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RE: Peter Schiff's warning on bitcoin and cryptocurrency

in #bitcoin7 years ago (edited)

I gave up at about 9 minutes where he was saying Amazon doesn't make any money.

This was published in 2016: https://www.wired.com/2016/04/whoa-amazon-isnt-just-making-money-making-ever/

And this is more recent, saying they turned a profit for 8 straight quarters:
https://www.recode.net/2017/4/27/15451726/amazon-q1-2017-earnings-profits-net-income-cash-flow-chart

For some counter to that though, there is this article (http://www.investopedia.com/stock-analysis/031414/amazon-never-makes-money-no-one-cares-amzn-aapl-wag-azo.aspx) on InvestoPedia that says:

"bidding the stock up to enormous levels – currently in the neighborhood of 630 times earnings. Such a P/E ratio is hard if not impossible to keep at that size in the long run, but it does speak to the market’s belief in Amazon’s business model"