"There's an elephant in the room," says David Einhorn at Ira Sohn, unveiling bearishness (but no short of yet) on Amazon (AMZN). He wonders if it's really a better business than the companies it's taking a bite out of. "Operating profits haven't grown at all. They've taken $30B in profitless revenues from other retailers." (previous) [View news story]
Great idea, but not new. See Bruce Greenwald about short Amazon some months ago.
"There's an elephant in the room," says David Einhorn at Ira Sohn, unveiling bearishness (but no short of yet) on Amazon (AMZN). He wonders if it's really a better business than the companies it's taking a bite out of. "Operating profits haven't grown at all. They've taken $30B in profitless revenues from other retailers." (previous) [View news story]