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February 10, 2000

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Subject:  David G. has the patience of Job
Author:  Transonic

I normally lurk on this board and others but the response to the recent Rule Breaker article has inspired me to write.

I can't believe the attitude of some of the people on this board. I've seen a lot of negative comments about Amazon here but the cheap shots at the Fools are the reason why I don't normally come here anymore. After reading the article this morning I did decide to visit and be amused by the indignant replies. What I did read was appalling.

First ThePapii accuses David G. of not knowing the difference between a stock pick and a company. Quite an arrogant comment towards someone that has turned $50,000 into $800,000+ in five years. The books written by the Fools repeatably champion long term investing in companies and not playing hot picks. Since the Breaker port has had a position in Amazon going on a couple of years now I suggest that the Fools have invested in a company they believe in not a short term play. QED David Gardner probably knows the difference between a stock pick and investing in a company.

tokushima posted a post that contained more thoughtfulness and less vindictiveness but one comment requires a reply. He said that barriers to entry haven't been discussed on this board for awhile. I seem to recall a long and pointed discussion about '' on this board not too long ago. That absurdity was contradicted by several bricks and mortar companies that had horrid christmas seasons online, such as Toy's R Us. Here we have an established company that knows the toy business inside and out unable to migrate to online sales. However, Bezos and co. were able to learn the toy business sufficiently well to add that line to their offerings. I don't recall hearing any problems with Amazon's toy offerings. Under this evidence I'd have to say that there is a barrier to entry for online merchandising. If fact specialty merchandisers might want to think about the lack of a barrier to entry for Amazon to start offering their lines. I don't recall any mention of 'Maybe I was wrong' after the online Christmas debacles for traditional retailers by the bears that offered the groundless '' argument.

Most of the comments on this thread are civil as they should be but the supposition floated by 'LogicalThought' was insulting in the extreme. That David G. supports Amazon's pricing because he expects to go IPO and wants high valuations to continue. The Fools have done an exemplary job of promoting honesty and integrity in a business that is not known for it. Now LogicalThought would have you believe that these same people are artificially inflating a stock solely for their personal gain. 2121 and the ThePapii thinks LogicalThought was merely making a joke but ThePapii suggests there might be some grounds to the statement.

I find it amazing that these two can even suggest such a slanderous rumor against the Fools. Do they have any proof that this is the case? Is it so unfathomable in their minds that someone might think Amazon is a good investment? The simple fact is that Bezos is leveraging his company to gain market share in a medium that he believes will offer opportunities for major profits in the next few years. I agree with him and so a portion of my portfolio holds AMZN stock. So does the Fools and they hold the stock. There are good reasons not to hold the stock too. There is no such thing as a perfect stock. You may not agree that this is a good strategy. If you feel the risks are too great then don't hold. You don't have to take cheap shots at someone who disagrees with you. You certainly don't have to do it on his website that he's providing as a free service to you. To come on this message board and post aggrandizing comments about someone who has exemplified integrity and then congratulate each other about your wit says a lot about you.

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