I had to laugh when I read yesterday that Caris & Co analyst Tim Boyd was giving Amazon a rating of "below average," declared that the company is a "pure play on the strong secular growth in U.S. e-commerce," but observing that the firm's "fundamentals have been deteriorating significantly," perhaps due to there being "nothing truly unique" about the firm's modus operandi. Ouch, but that’s what I’ve been saying for years. Not just because of its enormous debt and lack of real profits, year after year, but mainly because of its never ending race to diversify into everything from machine tools to knitting supplies. Now it’s into groceries… Doesn’t Jeffo remember webvan.com and all the others that rapidly came to the conclusion you couldn’t make money shipping bags of dog food for free? Get back to basics, books, videos, music. It’s how you got your start. It might very well be where you end up.
I will personally deliver all your groceries, right to your door!
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