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[FYI] Gates warns of 'gold rush' for Internet stocks
- To: debate@fitug.de
- Subject: [FYI] Gates warns of 'gold rush' for Internet stocks
- From: Horns@t-online.de (Axel H. Horns)
- Date: Tue, 2 Feb 1999 21:49:44 +0100
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http://www.telegraph.co.uk:80/et?ac=001319205832015&rtmo=apxwpXRL&atmo
=99999999&P4_FOLLOW_ON=/99/2/2/cnint02.html&pg=/et/99/2/2/cnint02.html
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Gates warns of 'gold rush' for Internet
stocks By George Trefgarne in Davos
JEFF BEZOS, founder of Internet bookstore
Amazon.com, yesterday joined Bill Gates,
the founder of Microsoft, in Davos in
warning off small investors from joining
the wave of speculation in high-tech
stocks.
Mr Bezos has seen the value of Amazon.com
rise to over $20 billion, despite the fact
it only has sales of $250m and has never
made a profit.
He said: "It does not take much analysis to
see that pure-play Internet stocks,
including Amazon.com, are extremely
vulnerable. In my opinion these are not
appropriate investments for small
investors."
Mr Gates, who over the weekend sent
shockwaves through the World Economic Forum
in Switzerland by warning Internet shares
had created some "breathtaking" valuations,
yesterday played down fears about the
impact of the millennium bug, saying: "I
think it is going to be less than half as
bad as some people really fear."
[...]
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