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As Amazon Parties On, Some Large Fund Managers Take Their Leave
FYI: For many years, investors have been very tolerant as Amazon.com has sacrificed profits for rapid growth in sales and as it built new businesses. That patience may finally be wearing thin.
The average large-cap fund that holds Amazon has 1.4 percent of its assets in the stock, down 23 percent from this time last year, according to the latest available Lipper data.
There are 116 funds with more than $1 billion under management that have either reduced or sold all of their holdings in the Internet retailer over the past 12 months. They include such well-known names as Fidelity Contrafund, Washington Mutual Investors Fund, Touchstone Sands Select Growth fund and the T. Rowe Price Growth fund Regards, Ted http://www.reuters.com/article/2015/04/23/amazon-valuatoin-idUSL1N0XI1I620150423
