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

To: Jan Crawley who wrote (25289)	11/9/1998 11:00:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

From TMF: "Author: JohnKe ÝÝÝread profile \| no interview Date: 11/8/98 11:48 PM As I look around the various boards, one thing I see is a willingness to value a company on management's terms. Of course, management highlights whatever is positive, cash flows, earnings, revenues, EBITDA, EBITDASM (don't even ask), gross margin, whatever. This point can not be over emphasized. I would go even further and say that this applies to many analysts themselves as well as the average individual surfing the message boards. It is purely psychological. Due diligence becomes a game of rationalization. How clever can one be in focusing on the positive while discounting the negative. Companies are more than happy to oblige with there chosen spin that puts them in the best light. People not only eat it up, they turn around and become spin doctors themselves. I worry when I have a hard time distinguishing between company press releases and a bullish poster on a message board. This is propagated even further by analysts with their >90% buy ratings and complete disregard for any analysis that might put them in a position of having to say something negative about a potential future investment banking customer. When I read DLJ's weekly internet analysis, I'm amazed at how intelligent these people must be to come up with such bullish scenarios. The creativity involved is staggering. Just rambling. "