So, if you subscribe to the idea that somehow it is wrong that this $164 billion company shouldn't be trading where it is, I want to know who made you the judge? The market has made a judgment of the worth of Amazon and the market's judgment allows you to sell easily, one million shares on the bid side, at $358. This is no small-cap short-squeeze joke. It's the real deal and if you take a gain in Amazon today because you deigned to own it before this magnificent quarter -- and it was magnificent -- congratulations. I know of no bank that will shun those proceeds.
But what about the idea that this company makes no profit and shows no sign of caring about profitability? Doesn't that make it poisonous? I think that, again, you are splitting hairs. What we need to do is not question whether we think that profitability should be its goal, we need to question what the buyers of the stock want, what would make them pay up and we know that the answer to that is revenue growth. Amazon's stock is a huge chit in the game of money management and revenue growth sustains the increase in the chit. I think it is a better exercise to try to figure out what the Wall Street fashion show wants and anticipate that than to decide what you think it should be doing. Given that you could have become a millionaire many times over with a small investment if you understood that logic, even if you find it illogical, then what's the argument? It's a higher calling to anticipate what the buyers will do if you hit a benchmark than it is to say "nope, not making money, don't want those points." Now I know that people will say, "Jim that's just the greater fool theory, that you own it hoping that someone will take you out at a higher price." Well, here's a shocker, that's why you own any stock. At least here it is transparent what people want: tremendous growth because of excellent execution. That's exactly what CEO Jeff Bezos gives you.