Jeff Bezos becomes the world's richest person

[Trumptonium]

So those interested in the markets will be aware (or soon to be, well, now) that Amazon beat revenue forecasts really damn hard, and so did Alphabet/Google. Overall, the last hour has been pretty good for tech stocks, with Amazon rising by 9% (and still rising as I speak) in after-hours trading. In related news, Jeff Bezos has thus become the richest person on the planet, with his net worth increasing by $6.6 billion in the last 32 minutes.

Alphabet/Google is also riding on an all-time high, now trading at 1.02 (A).

But - don't call me a Luddite - it is still obvious that tech stocks cannot increase far above their revenues or free cash flow for too long. I mean, Amazon is trading at 250x their trailing earnings right now. But, for now, managers (and especially investors) will be more than happy with its continued rise.

What do you think about the ongoing market (and expectations)?

[Trumptonium]

Nvm false alarm since Microsoft spiked too and if my mental calculations regarding Gates' holdings are right then he's still #1

Anyways $81 billion was added to the stock market in the last 47 minutes

[Aclion]

Tech bubble soon?

[Petrolheadia]

Nvm false alarm since Microsoft spiked too and if my mental calculations regarding Gates' holdings are right then he's still #1

Anyways $81 billion was added to the stock market in the last 47 minutes

$81 billion created just like that?

I love the stock exchange. Honestly.

[Galloism]

Nvm false alarm since Microsoft spiked too and if my mental calculations regarding Gates' holdings are right then he's still #1

Anyways $81 billion was added to the stock market in the last 47 minutes

$81 billion created just like that?

I love the stock exchange. Honestly.

Sure, it's a neat thing.

Worthwhile to note: it can vanish just as quickly.

[Arthemesia]

This increased profit will soon disappear along with the hopes of the investors. its just a reaction to most. one person sells or buys, another does so, then another. soon it will reverse and balance itself out. If it doesn't however, we will have a tech bubble on our hands. that is a quick pop in todays economy.

[Major-Tom]

Tech bubble soon?

Very likely from my point of view.

On the funny side of things, check out Jeff Bezos in the 90s as a hippy dippy bookstore owner compared to the tech mogul supervillain persona he has today. It's crazy. Besides, I know who he reminds me of.

[Arthemesia]

Business insider just posted about 5 minutes ago. A little quote from there, that could help explain the sudden surge.


"If you want to get a sense of just how Amazon dominates the voice-controlled device market, take a look at how CEO Jeff Bezos characterized just one month of work on Alexa:

“In the last month alone, we’ve launched five new Alexa-enabled devices, introduced Alexa in India, announced integration with BMW, surpassed 25,000 skills, integrated Alexa with Sonos speakers, taught Alexa to distinguish between two voices, and more. Because Alexa’s brain is in the AWS cloud, her new abilities are available to all Echo customers, not just those who buy a new device,” he said.

And the pace won't quit anytime soon."

http://www.businessinsider.com/jeff-bez ... te-2017-10

[Junkyard America]

Every day someone new becomes the world's richest person, or is that just me?

[Arthemesia]

Every day someone new becomes the world's richest person, or is that just me?

Just you.

[The Derpy Democratic Republic Of Herp]

Nvm false alarm since Microsoft spiked too and if my mental calculations regarding Gates' holdings are right then he's still #1

Anyways $81 billion was added to the stock market in the last 47 minutes

Bill Gates is Robbie Rotten?

Top Ten Anime Crossovers.

[Arthemesia]

Seems its not only Amazon. Microsoft is hitting a nice sweet spot, stocks have spiked 4% for them.

[Arthemesia]

Latest stocks:



Dow
+71.40
23,400.86 (0.30%)
4:44:40 PM EST

Nasdaq
-7.12
6,556.77 (-0.10%)
5:16:03 PM EST


S&P 500
+3.25
2,560.40 (0.10%)
4:44:40 PM EST


FTSE 100
+39.29
7,486.50 (0.50%)
11:35:29 AM EST

[Trumptonium]

Very sexy boosts in FTSE 100 indeed.

Tech bubble soon?

Tbf it's already here, if we measure 'bubble' by deviation from long-term trend, the classical interpretation. That doesn't necessarily mean it will 'pop', though.

$81 billion created just like that?

I love the stock exchange. Honestly.

Sure, it's a neat thing.

Worthwhile to note: it can vanish just as quickly.

It's much more difficult and rare for that to happen.

Food for thought: The most money anyone can make on the stock market by shorting (selling/betting on their decrease) them is doubling, or just under doubling (98-99%) and that would represent either bankruptcy or economic calamity beyond anything ever seen.

The most money anyone can make on the stock market by longing (buying/betting on their increase) them is technically infinite. Buying stock in Amazon on 1st January 2005 would yield you 2215% if you still held them today, for example.

[Thermodolia]

$81 billion created just like that?

I love the stock exchange. Honestly.

Sure, it's a neat thing.

Worthwhile to note: it can vanish just as quickly.

Yup. Like the last time Bezos was the worlds richest man for 48 hours

[Trumptonium]

Sure, it's a neat thing.

Worthwhile to note: it can vanish just as quickly.

Yup. Like the last time Bezos was the worlds richest man for 48 hours

This time it was a handsome ~15 minutes.

Blame Microsoft for a late earnings release, was due some 20 minutes before they published. Will probs get fined.

[The Alexanderians]

$81 billion created just like that?

I love the stock exchange. Honestly.

Sure, it's a neat thing.

Worthwhile to note: it can vanish just as quickly.

And with greater magnitude over what can appear like whimsy.

[Trumptonium]

Dow being at 23 500 is actually ridiculous.

I remember CNBC predicting 'continuity of Clinton' would give us the legendary 20k mark sometime mid 2018 and 'brashness of Trump' would put us at 20k sometime between never and mid 2018, with 25k by the next election being quite an optimistic bet.

We're now on the road for 25k before the final Christmas shopping weekend of 2017. Tax reform will bring us even closer.

I'm not a harbinger of doom since I don't believe any sort of correction is on the way, given that this heavy bull market is supported by very strong earnings growth, so it's not all a baseless bubble. But one has to ask where it tops off.

I follow many PE traders on twitter, both public and private, and I'm unable to find anyone who isn't almost completely pulled out and only trading nominal sums to ride the wave, because of their disbelief. I blame it on algorithmic trading.

[The Sauganash Union]

Dow being at 23 500 is actually ridiculous.

I remember CNBC predicting 'continuity of Clinton' would give us the legendary 20k mark sometime mid 2018 and 'brashness of Trump' would put us at 20k sometime between never and mid 2018, with 25k by the next election being quite an optimistic bet.

We're now on the road for 25k before the final Christmas shopping weekend of 2017. Tax reform will bring us even closer.

I'm not a harbinger of doom since I don't believe any sort of correction is on the way, given that this heavy bull market is supported by very strong earnings growth, so it's not all a baseless bubble. But one has to ask where it tops off.

(Image)

I follow many PE traders on twitter, both public and private, and I'm unable to find anyone who isn't almost completely pulled out and only trading nominal sums to ride the wave, because of their disbelief. I blame it on algorithmic trading.

>the Dow
>being relevant

c'mon nobody uses that as a benchmark. It's price-weighted ffs

[Trumptonium]

Dow being at 23 500 is actually ridiculous.

I remember CNBC predicting 'continuity of Clinton' would give us the legendary 20k mark sometime mid 2018 and 'brashness of Trump' would put us at 20k sometime between never and mid 2018, with 25k by the next election being quite an optimistic bet.

We're now on the road for 25k before the final Christmas shopping weekend of 2017. Tax reform will bring us even closer.

I'm not a harbinger of doom since I don't believe any sort of correction is on the way, given that this heavy bull market is supported by very strong earnings growth, so it's not all a baseless bubble. But one has to ask where it tops off.

(Image)

I follow many PE traders on twitter, both public and private, and I'm unable to find anyone who isn't almost completely pulled out and only trading nominal sums to ride the wave, because of their disbelief. I blame it on algorithmic trading.

>the Dow
>being relevant

c'mon nobody uses that as a benchmark. It's price-weighted ffs

Of course not, but it's a fairly good indicator that is understood by the common public.

In other news Facebook ad revenue is up just under 50%. Now that's a boom.

[Trumptonium]

How quickly time changes.

Jeff Bezos is now $11 billion wealthier than Bill Gates.

[Infected Mushroom]

Fantastic.

He's become the world's most successful and valued person. He can now finally live in perfect bliss and peace because he's reached the very top of the capitalist system. After all these years of hard work, dedication, intelligence, and exploitation... he's finally made it. His status as supreme overlord is established. This is what everyone should strive for. Office workers of the world be Inspired.

[Infected Mushroom]

How quickly time changes.

Jeff Bezos is now $11 billion wealthier than Bill Gates.

(Image)

Wow Bill Gates must be so upset. His place in the entire cosmos is in question.

[Yagon]

How quickly time changes.

Jeff Bezos is now $11 billion wealthier than Bill Gates.

(Image)

Wow Bill Gates must be so upset. His place in the entire cosmos is in question.

I think he can feel his soul disappearing like Marty's limbs in Back to the Future.

[Aillyria]

Rich person makes more cash....big woop.