In the midst of near universal euphoria over the Amazon numbers released today, the LA Times chose to drop this stinkbomb.
Author Michael Hiltzig brings a little rain to the celebratory parade by pointing out that Amazon trades at a PE ratio ten times that of the S&P average. That's way whacked for a company that started out as an on-line bookstore.
But it's so much more than that now...
It's the biggest on-line bookstore, it's a CIA front. It's the biggest on-line grocer, biggest on-line retailer, biggest cloud computing player, it's a CIA front... did I mention the fact that the venture capital department at the CIA has been a big Amazon backer since the bookstore days?
Surely you don't believe that the fact this CIA front owns the Washington Post is mere coincidence?
There's big money to be made in world domination.
Quite aside from a 250 PE being pure pie in the sky, there's other reasons to short Amazon.
Fantasies of world domination tend to end badly.