You can buy an initial half-position now. Id it doubles, don't buy more. If it comes down, buy more. Has had wild price swings lately. Online revenue is growing 17%. They're trying to expand outside the U.S. but face rivals. They also face competition from MSFT in cloud services and now from IBM with their Red Hat purchase. Be careful with Amazon. This could easily fall 30%, so own half a position now.

They've had a rough few days after reporting last week. They're starting to report earnings regularly, so investors can now put multiples on them. Their 56x 2019 earnings are too rich for him. It's trading at 19x book. A great company and will do very well across different ventures. Still too pricey for him, but it's getting reasonable.

The last FANG stock that's still rising. Lock in some profits and see how the rest of your shares do. If there's a bear market, because this will go down, because its valuation is very high.

All tech HAS pulled back in the past two weeks. It's a secular leader in a secular theme. Give it the benefit of the doubt. Amazon is nowhere close to stopping its momentum.

AMAZON or GOOGLE? Neither. As a value investor, he can't justify the high valuations of the FANG stocks. Value will become more important in the coming years. Momentum has had its day. These stocks can be vulnerable.

Amazing company to watch to see how it went from selling books to basically everything and eventually run everything given the way it goes. As long as the investors agree with management to look at growth as opposed to short-term earnings and cash flow then they will continue to execute their strategy and disrupt areas. He thinks that a risk is if they fail in one or two areas they enter. That would be the time to take a second look. 

In the short term, their earnings will be the biggest factor to watch. He would consider getting into it before the earnings report. Longer term, it is a great holding as it is a real “interrupting” company.

Has a magnificent valuation, over 22 times book value, with a PE of 104.  This is practically a dead giveaway on the street.  $1500 would be a sell signal but it could have an upside of $1900.  It has had some spectacular wipeouts along the way since inception.  The stock comes back quite quickly and then it drives on.  At some point it will wipe out but it is destroying the retail industry right now.  He thinks the growth will continue right now.

The hype around this company is disconcerting.  He wonders if they will be able to execute on what they promise.  At these valuations, it is not something he would recommend to clients.   A company this big will have a very difficult time doubling in value.  Market cap is $780 billion – bigger than the Swedish GDP. 

Continue to hold it.  It has been a rocket of a stock.  You could take a little profit of 5% whenever it makes you 20%.  There is a moat they are creating across North America.  They get products from the manufacturer to the consumer and take out several middle men who each take 20% margin, saving the consumer money.  They have a vast number of prime members who get music and movies from them.  The company is doing good things.  They are getting into advertizing.  Alexa will understand how you live and work.  You would see massive earnings if they pulled out all their cap-X.

He thinks Amazon is a great company but from a value investing perspective, it is not a great stock. He would not bet against this company, but he thinks it will take a long time for the earnings to catch up. 

He wrote a blog on FANGs.  Basically he noted that a lot of these stocks moved a lot over their 200 day moving averages.  He thinks they are overbought by 10% over.  This one was 37% over the 200 day.  He thinks it will return to its trend line.  It is so overbought that it could drop more.  $1100 or $1200 is a screaming buy. 

(A Top Pick June 20/17, Up 60%) Continues to love it. Still needs to put all its cash back to work like the Whole Foods acquisition. Will definitely hold it. A very rich valuation, so he limits his holding to 3%.

It trades at a very high multiple. Amazon is only 20% of the online business and there's lot of global growth for it. Buy the dips. They're expanding quickly into many areas. Good and bad: Jeff Bezos reinvests all the revenues in trying new areas--he's innovative. He's made strategic acquisitions like Whole Foods. Also, there's a whole generation that wants to--and will--do everything online.

He does not own this, but wishes he held an early position in this incredibly well-run company.  The multiples are just too hard to wrap his head around.  If he held it, he would protect his initial investment (take money off the table) and let the rest run.

He thinks it is easy for them to gain market share when you are not making any money. At some point governments will intervene to bust this company up as it is becoming dominate in too many spaces. At some point smart retailers will find ways to differentiate themselves to battle back against the company.

Fabulous company, but is it a fabulous stock? He still can't accept the stock price. You're paying a lot of money based just on cash flow. Can Amazon continue to grow and dominate at this rate? Okay, they are good at what they do. He doesn't own it. Doesn't like the valuation.

Amazon (AMZN-Q) or Netflix (NFLX-Q)? Doesn't own either. Prefers Disney (DIS-N) as their pending purchase of 21st-Century Fox is going to remove the shackles and people are going to stop thinking of it as a cord cutting situation with lower subscriber participation, but more in terms of a streaming competitor to these 2. (See Top Picks.)

(A Top Pick June 20/17. Up 18%.) This is on quite a roll. Their business is expanding and will continue to do so massively for the next several years. The issue is profitability. They are throwing all their cash flow back into growing the business.  When they slow down, the earnings will come roaring through. 

It is a disruptor.  The valuation of this stock is based on its disruptive effect.  He prefers BABA-N as you have a better opportunity for equity growth.  We in North America are transitioning from stores to ecommerce.  In China they are transitioning from no shopping centers to ecommerce. 

What is the potential for a stock split? She doesn't know of any plans, but companies want it to be a reasonable number so there can continue to be a retail base in the stock. The market is giving this company a lot of credit. One analyst was quoted that the rules of valuation do not apply to this company. When you hear that, you wonder how much sentiment is driving the stock. To be fair, they have done a better job of generating cash flow in the last little while. However, they have a history of spending more than they make. Right now, the market is very accommodating to them. She is not participating in this stock.

Everyone is afraid of them.  Reinvested capital back into the business is starting to show rewards.  He would buy it on dips.  You do not need to chase these stocks.  After thanksgiving we will have the cyclicality of money flows into the market.  Any correction prior to that could be in the 5% range and then we might be set up for something more substantial. 

This company is the great disruptor. What is probably most interesting is that it is not technology, it is brilliant imagination. Everything is growing nicely, but what is the downside? The downside is, where are the earnings?

A great long-term play. It is expensive, but once it actually slows its growth, profitability will skyrocket. They are not going to slow their growth, they are going to keep reinvesting in their businesses. With guys like Jeff Bezos, you just want to bet with them and stay with them. Has a target price of $1250.

They became a much more diversified company than they used to be. Then they are going to bricks and mortar grocers. His company’s research has done a really good analysis and you are in for a bumpy road. Their whole MO now is to lean it up, take the price down, and ultimately invest in the franchise which gives them a point-of-sale and a whole bunch of infrastructure that they needed and wanted. But to beat out Kroger, Safeway and Target, they are going to price competitively, and those guys are going to have a really tough time. This is going to take some time as they have some pretty fierce competition in the grocery space. It is probably a little pricey right now, but the model and the franchise is absolutely stellar.

Amazon (AMZN-Q) or Ali Baba (BABA-N)? He would add to both of these now, for 3 reasons. #1 the pullback. #2 it is a longer-term great story and #3 you have an $.80 Cdn$, which you don’t see very often.

AMZN-Q vs. BABA-Q.  He likes them both.  It is always better to buy them in a correction.  But they both look like they could go higher.  He suggests making a partial buy now.  BABA-N looks exceptionally good because it is centric on Asia.  BABA-N also gives you a Paypal equivalent.  AMZN-Q is mostly North America.