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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Fernando Saldanha who wrote (553)	1/9/1999 12:52:00 PM
From: Stephen O	Read Replies (1) \| Respond to of 3543

I understood that Amazon.Com's market cap had exceeded the market cap of all stocks listed on Oslo stock exchange, not the value of the country. Several posters have thought it was the value of the country. It sure makes you think that the US market in Inut stocks is terribly overvalued when such investing naivete is displayed.

To: Fernando Saldanha who wrote (553)	1/9/1999 4:00:00 PM
From: charger	Respond to of 3543

I think the point they were trying to make is that a country has certain fixed assets which produce a stream of revenue. One could argue that a present value can be attached to this stream expressed in currency. The book value of Norway is infinity. CNBC is obnoxious. Regards

To: Fernando Saldanha who wrote (553)	1/9/1999 4:39:00 PM
From: Crueldog	Read Replies (1) \| Respond to of 3543

Valuations: These valuations have been made using traditional fundamental analysis and adjusted for a premium. These values roughly value the Company three years out. In other words, people would pay today what the price should be in three years. This would be common with quality Companies like GE. AMZN 18.00 YHOO 81.00 AOL 67.50 EBAY 66.75 CMGI 56.00 Good Luck

To: Fernando Saldanha who wrote (553)	1/9/1999 5:18:00 PM
From: charger	Respond to of 3543

I should add that in Norway's case, the present value can be determined based on actual revenue streams which, in all likelihood, will continue indefinitely into the future based on the world's need for oil, if nothing else. AMZN, on the other-hand, has a market cap determined by the hope/wish/dream of large positive cash flow many, many years into the future...if the average American consumer, burdened by negative savings and record debt levels, curbs spending for unnecessary goods for whatever reason you can kiss the whole glorious facade goodbye. This is the greatest short of all time...you heard it here first!!! No barriers to entry...give me a break. Once they start making money, if ever, WalMart or any number of retailers will jump on the bandwidth bandwagon and crush margins in this deflationary environment, pushing out profitability much farther out on the time-line than currently expected. It will be all out war on the internet among retailers, and many years until profitability is reached, if ever. Winners will be determined by deep pockets. Does AMZN have the pockets to outlast the competition? Perhaps, but it doesn't justify the current risk built into the stock price. There will be a handful of lucky souls who sell the top of this overinflated pig. The very pig which represents all that is wrong with Wall Street and our bubble economy. The "Buy the Dippers", "This Time is Different" and "Y2K is Rubbish" crowd will get crushed, and thrown to the ash heap of history. Greenspan will get the honors... Regards, Peter Vasselais