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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (22551)	10/22/1998 5:33:00 AM
From: Jay8088	Read Replies (1) \| Respond to of 164687

Thank you for your thoughtful analysis - once again. No one can argue against the incredible success of AOL now that legions of detractors have proven to be exactly and totally WRONG. And there are definitely important points illustrated by these 'outwardly overvalued' stocks. I guess YHOO is in the same class as AOL now. I am more skeptical about AMZN's ultimate success. However, you seem to be non-dogmatic and flexible in your investment policy. So I am sure you would do quite well whether these stocks streak up to the sky of fall back to the earth (at least temporarily). Actually I have to worry more for myself! Underestimating the strength of these stocks (and speculating about imminent market wide collapse) was a lethal error as I found out! I am glad that you mentioned liquidity because I think it is THE factor behind overvaluation of these stocks ( even in relation to their bright potential - although I am skeptical that any solid DCF analysis can be done on stocks like AMZN). And I do think these stocks would become vulnerable eventually to market weakness. Anyhow for now, I shall think over your points. Your analysis on the thread is very much appreciated.