????大多數(shù)CEO可能會(huì)說，討好投資者是他們工作中非常重要的一部分，但對(duì)于杰夫?貝佐斯來說卻并非如此。他領(lǐng)導(dǎo)的亞馬遜公司（Amazon）一向因高增長和低盈利而出名。在本周二的Business Insider Ignition大會(huì)上，貝佐斯承認(rèn)他平均每年只花6小時(shí)在投資者關(guān)系上。比比看，在Twitter公司上個(gè)月的分析師會(huì)議上，Twitter的高管花了7個(gè)小時(shí)呢。

????為了減少與華爾街對(duì)話所花費(fèi)的時(shí)間，貝佐斯并不會(huì)與公司最大的投資者見面。他也盡量避免在公司的季度收益電話會(huì)議上露面，這種會(huì)議一般都由公司的財(cái)務(wù)總監(jiān)主持。貝佐斯只喜歡與那些長期投資者會(huì)面——也就是持有亞馬遜股票時(shí)間最長的人。他一直把亞馬遜的價(jià)值稱作一個(gè)長期增長的游戲，他的行為也證明了這一點(diǎn)。

????一直到不久以前，華爾街還是相當(dāng)認(rèn)可貝佐斯的愿景的。盡管一直虧損，但亞馬遜的股票卻從1997年的19美元上漲到了今天的326美元。不過，這個(gè)數(shù)字與一年前402美元的歷史最高值相比還是跌了不少，這也是六年來亞馬遜股價(jià)的第一次穩(wěn)定下跌。《財(cái)富》（Fortune）記者亞當(dāng)?拉辛斯基也在最近的一篇文章中指出，此次下跌也使人們開始懷疑亞馬遜那種令人忌妒的增長勢(shì)頭能否持續(xù)。

????亞馬遜的敵人們正在攻城掠地，但亞馬遜的產(chǎn)品卻進(jìn)展得并不順利，而且它的競(jìng)爭對(duì)手們也顯得比以往更強(qiáng)大了。就連它以往刀槍不入的股價(jià)也變得脆弱了，比最高值時(shí)下跌了25%。

????在周二的會(huì)議上，貝佐斯對(duì)這個(gè)問題回應(yīng)稱：“亞馬遜是一支有波動(dòng)性的股票，一直是，而且以后一段時(shí)間也會(huì)是這樣。”他補(bǔ)充道，今年創(chuàng)立已有20年的亞馬遜在很多方面仍然是一家初創(chuàng)公司。初創(chuàng)公司的股價(jià)當(dāng)然有波動(dòng)性。不過對(duì)于這樣一家市值達(dá)1510億美元的上市公司來說，這番說辭并非很令人信服?？磥碡愖羲箍赡艿脤W(xué)一學(xué)傳統(tǒng)推銷術(shù)。但他似乎并不擔(dān)心公司的前景。

????你可能認(rèn)為，貝佐斯可能在撞上另一次“.com”泡沫大破裂那樣的危機(jī)時(shí)才會(huì)正視這個(gè)問題。在2000年到2002年的那次危機(jī)中，亞馬遜的股價(jià)從106美元下跌到僅有6美元。不過，貝佐斯卻笑道：“對(duì)我來說，那只是一次股價(jià)波動(dòng)。如果你從五年或十年的周期看我們的股票，它看起來挺不錯(cuò)的?！笔聦?shí)上，他說的對(duì)。如果你在2009年12月購買了亞馬遜股票，現(xiàn)在它已經(jīng)上漲了148%。（財(cái)富中文網(wǎng)）

????譯者：樸成奎

????Most CEOs would say that courting investors is an important, even essential, part of their job. Not Jeff Bezos. His company Amazon AMZN 0.10% is famous for its aggressive growth and consistent lack of profits. Onstage at the Business Insider Ignition conference on Tuesday, the chief executive admitted that he dedicates just six hours per year to investor relations. In contrast, consider Twitter’s analyst day last month, where executives TWTR -0.33% presented a seven-hour program.

????To cut down on time spent talking to Wall Street, Bezos doesn’t meet with his company’s biggest investors. He also avoids making appearances on the company’s quarterly earnings calls, which are typically led by the company’s chief financial officer. Bezos prefers to meet with the investors with the lowest churn—the ones who have held Amazon’s stock the longest. He has long touted the company’s value as a long-term growth play. His actions underscore the words.

????Until recently, Wall Street has mostly bought into Bezos’s vision. The company’s stock has risen from $19 in 1997 to $326 today despite consistent losses. But today’s price is actually a drop—the first sustained one in six years—from an all-time high of $402 a year ago. It’s put Amazon’s much-envied momentum in doubt, as Adam Lashinsky wrote in the most recent issue of Fortune:

????Its enemies are emboldened, its products are uneven, and its competitors loom larger than ever. Even the company’s once-bulletproof stock price has been crushed, off 25% from its peak.

????Bezos’ response? “It’s a volatile stock. It always has been and probably will be for some time,” he said at Tuesday’s conference. Amazon—20 years young—is still a startup in many ways, he added. Startups are volatile. It’s a tough argument to make for his $151 billion publicly-traded company. At some point, Bezos might have to use some old-fashioned salesmanship. He doesn’t seem to be concerned about the prospect.

????You could say it will take another dot-com crash to get his attention. During the slide between 2000 and 2002, the value of Amazon’s shares went from a high of $106 to a low of just $6. “To me, that is a stock movement,” Bezos said, laughing. “When you look at our stock over five years or ten years, it looks good.” And you know what? He’s right. If you had purchased Amazon shares in December 2009, you would be up 148%.