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re: amzn

i should have clarified that
what i meant is not that amazon the reality is to blame
it is amazon the model that is to blame
which makes it ok for companies to not generate profits of any type for many years
and get not only a pass from the market
but a very high valuation period
it is sea-change in psychology

i wasn't trying to pass judgement on whether the psychology is relevant

I have never taken my cues from the valuations in the market
I won't do that today
and i've done far better than the market over time
i'm not impacted by what I don't buy

What I do have confidence is that today's market is largely being priced off cash flow and earnings.

sometimes, not always
many times, but not accurately
spec business are fashionable that's true
won't always be so
I'm merely jealous, but not tempted

huge difference but at least I have options

People complained about markets...

little bitch*n never hurt nobody
I've done ok in my time thank you very much
believing what I do and doing what I do
not going to change now - at least, not much
now I'm an old f*rt
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