Comment From Seeking Alpha

Here’s a comment courtesy of rschus at Seeking Alpha regarding my recent post on Amazon‘s ($AMZN) super-rich valuation.

Not only does rschus prove my point that investors in Amazon refuse to look at the numbers, but I find all his criticisms to be rather complimentary:

Mr Elfenbein strikes me as a technocrat rigidly locked into rules and numbers without considering the kind of positive vibes that a company like Amazon generates for the individuals who shop there and its iconic name (akin to Google) in the wider world. This is a powerful and well-run company that, despite occasional stumbles, will only grow because shopping there gets you what you want with comparison shopping, great prices, reviews and whatever you don’t get by dragging yourself to stores with usually uninformed salesmen and limited inventory. P/E? Shmee/E? Amazon will grow.

He’s right — I don’t consider positive vibes when looking at a stock.

Posted by on October 29th, 2011 at 9:00 pm

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