I am long Amazon, which basically boils down to the fact that I like its position as the king of retail; it has a strong competitive moat, is well-diversified, has further growth potential, and I still like it at its current valuation. Its current financial ratios are comical from a value perspective – 290 P/E (71 forward-looking), P/B of 23, and 38 EV/EBITDA – but these are inflated due to AMZN’s status as a growth company that haven’t yet had the time to mature. As earnings and EBITDA increase over time, multiples will settle. I project its current financials with the following information: 2016 sales of $130 billionYear-over-year growth starting at 20%, followed by a 5% Y/Y relative decline off this figure (e.g., 19.0% growth in 2018, 18.1% in 2019, 17.1% in 2020, etc.)2016 EBITDA margin of 8.2%, followed by a straight-line 30 bps of year-by-year improvementDepreciation and amortization expense at 5% of salesCapital expenditures of 4.5% of salesEffective long-term tax rate of 32%Working capital/operating assets-to-liabilities growth of 2% year-over-year (the company has been averaging 3.5% these past five years)Cost of equity at 9.23%; pre-tax cost of debt at 3.44% based on its bond data, yielding a weighted average cost of capital at 8.88%Perpetual growth rate of 2% These projections have AMZN conservatively projecting at an EPS of approximately 5.00 for 2016 and breaking 10.00 by 2019. Valuation