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Alex Morris  

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  • The Amazon Tulip Bulb [View article]
    A huge problem for a company like Amazon is competitive advantage. At this valuation, the market consensus seems to be that Amazon will continue to practically dominate e-commerce for the imaginable future. With company's like Wal-Mart and Target quickly building online sales and penetrating the virtual market, I have trouble believing that Amazon will continue their successful run without facing much tougher margins and sales competition in the future. As a long term investor, I am not interested in owning a company that trades at over 73x last years earnings and will likely face stiffening competition in the immediate future (from some of the most formidable competitors in the world, none the less) in an industry with low barriers to entry.

    Alex Morris
    seekingalpha.com/autho...
    Apr 25, 2010. 11:25 AM | 4 Likes Like |Link to Comment
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