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