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

To: Gary Walker who wrote (31701)	12/30/1998 3:01:00 AM
From: Peter J Hudson	Read Replies (1) \| Respond to of 164684

> In fact, the most successful businesses create wealth without making investments in tangible assets. How much value in MSFT is related to tangible assets? Not much as a percent of the market cap. In any case, if the assets don't create income, all is a mute point. The DLJ article as a AMZN market cap justifier was full of holes, but the accounting side is A1 Gary, The point I was trying to make is that the DLJ piece was selectively using "brick & mortar" accounting to justify Amazon valuation. ROE and ROA are useful in comparing performance of similar companies in the same sector, but you don't use them to compare a bank to a software company or a book seller to nothing. The model is a sham. Pete