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Amazon shares are down but it wasn't a bad quarter, says Josh Brown - YouTube
Channel: CNBC Television
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who's it good for i mean it's come down
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a lot when was the last time you just
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don't see amazon down four hundred
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dollars
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uh in in a session worst day it's the
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worst day for amazon since worst
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individual day for amazon since 2011 and
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i know we're going to talk more about it
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later
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uh this is not a bad quarter the problem
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is it's normalization of the typical
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growth rate back to 2019 early 2020
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prior to the pandemic but that's the
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market is you're talking about people
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who have the attention span like they're
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they're they're on tick tock they're on
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twitter they can't even think straight
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if you think about if you think about
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what's going on at amazon uh cloud
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growth is almost forty percent uh that's
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the growth business not groceries how do
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you not understand that um look at the
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advertisement the problem is it's on
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facebook the problem is the problem is
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um speaking of the cloud dock and and
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you own the stock
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aws was 40 growth
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last quarter um and it's it's still
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robust obviously you look at 36 growth
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that's not 40 though
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so you have
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concerns that things are slowing even on
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the margins john najarian give me your
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perspective here is this a no-brainer
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buy at this point of shares of amazon
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which are having a historic pullback
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um i think it will be a no-brainer
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pullback next week scott i don't think
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it's a no-brainer pullback today i hope
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i'm wrong i mean i i own amazon i've
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written calls against it they are not
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saving my bacon today um because
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obviously there weren't there weren't
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calls available to me scott other than
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deep in the money calls that could have
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offset a 300 point decline in the stock
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which is what we've seen today i think
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that probably gets a little worse next
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week i like what josh said about the
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potential that um warren's team because
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it was never of course warren buffett
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that got into apple it was his team that
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pushed him into apple and they maybe um
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you know basically uh in a meeting right
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now making a similar pitch about amazon
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yeah but rest assured that wouldn't be
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an apple
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they wouldn't be an apple and to the
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magnitude of which they are
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without the king right so i mean i know
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it said well it's his team and all this
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and that we don't know that for sure i
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mean
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they wouldn't be we do know that for
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sure he has said that
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yeah but but they wouldn't continue to
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back up the truck if they didn't have
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the problem
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charlie monger is buying alibaba on
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margin right now for the daily journal
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company they they're a little gutsier
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than we we give them credit for and
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please remember geico was pretty much a
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penny stock uh when they first started
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started establishing their position
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please remember amex was the fintech of
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its day it was revolutionary when
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buffett and co started buying into that
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we just look at these companies now like
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old stodgy brands uh but but understand
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they love businesses like this amazon
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raised its prime membership rate from
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119 to 139
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this year there was a recent survey of
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prime members 98
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of current prime members said that
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they're going to re-up tell me how
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that's not a classic berkshire hathaway
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business that's literally the moat the
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the uh the the the recurring business
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everything that they look for
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when they look for a great plan and the
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reason why this is so obvious to me
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there are very few stocks that could
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move the needle at berkshire
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it's a it's a it's a it's a hundreds and
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hundreds of billions of dollars in the
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stock portfolio 150 billion ish in cash
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right now there's almost nothing they
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could buy that actually would matter uh
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amazon's big enough where they actually
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could take a position without taking
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over the whole company and it would
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matter so i don't know anything it's all
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speculation but i'm saying this is the
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kind of stock in the kind of environment
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that a growth at a reasonable price
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investor should be looking at
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