1. Amazon Thrives by Thumbing its Nose at Wall Street

    Amazon Thrives by Thumbing its Nose at Wall Street

    For a few hours two weeks ago, Amazon’s founder and CEO Jeff Bezos became the world’s wealthiest man when his net worth (north of $90 billion) surpassed that of Microsoft’s founder Bill Gates. That’s about the annual gross domestic product of Ukraine and the Slovak Republic. That day, Amazon’s stock AMZN, -0.24% hit an all-time intraday high of 1083.81...

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    1. Given accelerating growth and long runway in both retail and cloud — along w/AMZN's track record — we believe many investors will look beyond lower near-term profitability.
    2. We believe that a fundamental measure of our success will be the shareholder value we create over the long term. This value will be a direct result of our ability to extend and solidify our current market leadership position.
    3. Amazon has this permission because it has trained its shareholders to believe that everything will work out in the end.
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