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.
大多数CEO可能会说，讨好投资者是他们工作中非常重要的一部分，但对于杰夫o贝佐斯来说却并非如此。他领导的亚马逊公司（Amazon）一向因高增长和低盈利而出名。在本周二的Business Insider Ignition大会上，贝佐斯承认他平均每年只花6小时在投资者关系上。比比看，在Twitter公司上个月的分析师会议上，Twitter的高管花了7个小时呢。
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.
为了减少与华尔街对话所花费的时间，贝佐斯并不会与公司最大的投资者见面。他也尽量避免在公司的季度收益电话会议上露面，这种会议一般都由公司的财务总监主持。贝佐斯只喜欢与那些长期投资者会面——也就是持有亚马逊股票时间最长的人。他一直把亚马逊的价值称作一个长期增长的游戏，他的行为也证明了这一点。
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:
一直到不久以前，华尔街还是相当认可贝佐斯的愿景的。尽管一直亏损，但亚马逊的股票却从1997年的19美元上涨到了今天的326美元。不过，这个数字与一年前402美元的历史最高值相比还是跌了不少，这也是六年来亚马逊股价的第一次稳定下跌。《财富》（Fortune）记者亚当o拉辛斯基也在最近的一篇文章中指出，此次下跌也使人们开始怀疑亚马逊那种令人忌妒的增长势头能否持续。
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.
亚马逊的敌人们正在攻城掠地，但亚马逊的产品却进展得并不顺利，而且它的竞争对手们也显得比以往更强大了。就连它以往刀枪不入的股价也变得脆弱了，比最高值时下跌了25%。
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.
在周二的会议上，贝佐斯对这个问题回应称：“亚马逊是一支有波动性的股票，一直是，而且以后一段时间也会是这样。”他补充道，今年创立已有20年的亚马逊在很多方面仍然是一家初创公司。初创公司的股价当然有波动性。不过对于这样一家市值达1510亿美元的上市公司来说，这番说辞并非很令人信服。看来贝佐斯可能得学一学传统推销术。但他似乎并不担心公司的前景。
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%.
你可能认为，贝佐斯可能在撞上另一次“.com”泡沫大破裂那样的危机时才会正视这个问题。在2000年到2002年的那次危机中，亚马逊的股价从106美元下跌到仅有6美元。不过，贝佐斯却笑道：“对我来说，那只是一次股价波动。如果你从五年或十年的周期看我们的股票，它看起来挺不错的。”事实上，他说的对。如果你在2009年12月购买了亚马逊股票，现在它已经上涨了148%。（财富中文网）
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