Amazon's Stock Price and Counterfeit Money

Since several people have asked me why I bothered to write about Amazon's stock price possibly being overvalued, let me get out the sledge hammer and hit people over the head with the issue.

Let's imagine this week the god of Wall Street comes down and announces that Amazon's proper valuation is half of its current level. (This is a hypothetical, not my target price for the stock.) Since the god of Wall Street is never wrong, we would expect that Amazon's stock price would quickly plunge, eli...