Cramer is out and about talking about the Scamazon purchase of Whole Foods saying it will be a major deflationary force and blah blah blah change the world blah blah blah. Mish aggregated some of the comments here without commenting on it himself.
Let me be clear. Scamazon buying Whole Foods is like AOL buying Time Warner. AOL was set to take over the world but its business model was unsustainable. Amazon is in the same boat except very few can see the forest for the trees. Everyone is caught up in the herding spirit brought on by the soaring stock price and thus think that Amazon is the second coming. But I see this more as a desperation move by Amazon to try to get into business where its revenue and profit will not evaporate soon. Amazon is a money losing pig if it weren't for AWS. Everything else is a loser. And MSFT is up and coming in that space. Amazon is not going to keep Microsoft down in the software space and Bezos knows it. So he's diworsifying in every way possible while Amazon is still perceived to have big value.
Buying Whole Foods is not a stroke of genius by Bezos/Bozos. It is a desperation move and it is Amazon's swan song. Amazon is now spread way too thin fighting battles on multiple fronts. Jim Cramer, being the emotional herding being that he is, will be changing his tune about the positive aspects of this acquisition this within 18 months. Whacky stuff like this often marks major market peaks.
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