Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: H James Morris who wrote (47713)	3/28/1999 8:13:00 PM
From: astyanax	Read Replies (1) \| Respond to of 164684

MSNBC writer's repeated attacks of AMZN. I wanted to address some criticism by MSNBC/TheStreet.com/NY Observer/ThirdAge columnist Christopher Byron, whose favorite target for criticism over the years has been Amazon.com. First my thoughts, then below I'll requote a few other SI poster's comments about him. I've got a little anti-Christopher Byron webpage going at netconductor.com. It's a subsection of my "Internet stock naysayers page" at netconductor.com Byron recently took credit (in his interview with Salon Magazine) for a recent article which he says helped deflate Amazon's shares: "There wasn't enough stock around to justify the demand, and the price went up. And when I look at what's happened to Amazon in the last three weeks, I feel very good about that story, because it's given up half its value." Anyway, let me show you with my letter criticizing him. I wrote it to TheStreet.com (where Byron is a contributing writer) but the letter was never printed and my emails asking why were not answered. Apparently they are too busy to answer paying subscribers these days. Or maybe they're just censoring critics to protect their writers? Since it will never see the light of day now, I'll toss it here so you can let me know what you think. Thanks. P.S. Check out Byron's latest at msnbc.com It starts off: "Anyone who thinks that Internet investing is based on more than herd instinct..." ===== TO: letters@thestreet.com Feel free to edit this piece. If it cannot be published for whatever reason, please let me know why. It is much more controversial than anything I've ever written, but the person in question has truly raised the ire of the Internet investment community, as you can see in past TheStreet.com letters. Thank you. +++[Begin Letter] Eric Moskowitz's "A Cybersleuth Claims Credit for SEC Action on Bulletin-Board Stocks" was truly groundbreaking. It's the only news story that went behind the scenes and detailed how vigilantes on the Silicon Investor stock boards unearthed information that eventually led the SEC to suspend trading of several OTC bulletin-board stocks. He also profiled the intensive research conducted by these investors and the increasing power of retail investors in general. TheStreet.com is the only media source covering this and other related SI investigation stories; however, Moskowitz failed to mention the role played by fellow TheStreet.com journalist ("Eye to the Keyhole" column) Christopher Byron. Byron wrote a piece on the scandal for MSNBC and should be commended for bringing attention to this fraud. However, Byron distorted the truth by taking credit for having "exclusively reported" this scandal when in fact Silicon Investor sleuths did so earlier. One Silicon Investor reader, posting to the MSNBC bulletin board, went so far as to say Byron might be guilty of plagiarism. Maybe Byron is hesitant to mention the Silicon Investor Boards because he sees it is infested with Internet-savvy individual investors, those typical of the "Internet rabble," "jerks," and "fools" he harasses on a weekly basis in his column. Byron is the Ralph Nader of financial journalism, always quick to point out that federal authorities are not controlling a market that is spiraling out of control. His common theme is that investors need to be protected from the stupidity and "sheer unadulterated greed" that is driving this bull market. He's been warning of the Net stock bubble for the last two years, even creating an "Internet Sucker's Index" of stocks. That index has skyrocketed, so who's the real sucker here? He had the gall to label Amazon.com an "IPO dog" and mocked investors for buying Ebay when it had a market cap of only $3.3 Billion. In the meantime, his favorite pick for underpriced stock of the year lost 2/3 of its value. People read financial columns to help them make investment decisions. Byron has failed this test miserably. Maybe he needs a lesson in Cramer-like humility and just admit "I was wrong". Why does he still have a job? ===== References/Citations -------- My webpage detailing Chris Byron's endeavours: netconductor.com thestreet.com Michel Strickland (1/21) thestreet.com Gary Christy (1/9) [END LETTER] ============ OTHER POSTS AT SI:AMZN : --- impristine wrote #46634: Chris Byron, is a piano player, alright, a blues singer, he has been predicting the DUGHhmize of Amazon, since early last spring, the dude will someday, get fired again.... --- Eugene Kearney wrote #43904: I am reasonably certain that Amzn will stun the Christopher Byron's of the world. It will seem odd to many people that the real world success of Wal-Mart will not easily transfer to the web. They will be, they are being, slow to react because of the threat to their profits. Amzn will have a stronger foothold in a year. It will take a MSFT vs. NSCP performance by someone like Wal-Mart to knock Amzn down. --- Eugene Kearney wrote #43844 It is awful that Christopher Byron is still allowed to write about the nets. He has continuously given his opinion for a year now that they will be devastated when they finally correct. Meanwhile they are up 10 fold. If they lose 80% of their value, they will still have doubled since his table pounding started. Is a double in a year good? I am so old that I remember when it was pretty good. - Netconductor.com