Amazon Asked for Patience. Remarkably, Wall Street Complied.

Amazon Asked for Patience. Remarkably, Wall Street Complied.
“We will continue to make investment decisions in light of long-term market leadership considerations rather than short-term profitability
considerations or short-term Wall Street reactions,” Mr. Bezos wrote in a section of the letter titled, “It’s All About the Long Term.’’
Mr. Bezos has been true to his word.
“If Wall Street would allow more companies to reinvest like Amazon, it would create great benefits for the economy,” said Henry
Blodget, a former stock analyst, who first came to prominence in 1998 by setting a $400 price target for Amazon shares.
In a 2014 interview with Business Insider, Mr. Bezos said he spent a measly six hours a year on investor relations
and then only with long-term shareholders, who have been willing to weather the company’s ups and downs.
Of the dozens of Wall Street analysts covering Amazon, he is the only one tracked
by Bloomberg who recommends that investors sell the company’s shares.
While many chief executives devote significant time to fielding questions from investors, Amazon’s founder
and chief executive, Jeff Bezos, is famously stingy about the time he spends with major stockholders.