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To: Sawtooth who wrote (23018)	2/18/1999 11:42:00 AM
From: DaveMG	Respond to of 152472

Tim..Not so OT today. Who's selling?.........DMG

To: Sawtooth who wrote (23018)	2/18/1999 10:59:00 PM
From: Jon Koplik	Respond to of 152472

Just want to remind everyone that "the great" Roger Lowenstein (as featured in the following) : Roger Lowenstein, in his biography Buffett, describes the "impression of Buffett sweeping down the aisles of a giant store [buying stock]... . As the market fell, he raced down the aisles all the faster." is the same person as mentioned in my post # 20457 Someone gave me an article from the 9/28/98 issue of "The New Republic" titled "Market Bull" (pages 17-18). The article has in it yet another commentary on Amazon.com. Listen to this : Amazon.com, the online bookseller, has yet to turn a profit; its total sales for the most recent quarter were only $116 million. However, on a recent day (September 1), 11 million shares of Amazon stock, worth some $880 million, were traded. At those rates, Amazon would have to sell books for 474 years just so its sales could equal one year's trading volume. As you might imagine, I read this and thought "what the *!@# is this guy's problem ?" Since when does trading volume of a stock (particularly one where a large portion of the volume may be related to the hedging of options marketmakers' facilitation of massive spec. trades in Amazon options by retail investors) have anything to do with revenues of the company ? Anyway, here is the "zinger" -- I could not wait to read who the author of this article was. It turns out that he (Roger Lowenstein) is described as : the author of Buffett : The Making of an American Capitalist. What does this say about the level of thought behind (at least one of) the many books about Warren Buffett ? Jon.