I was just reading a Bloomberg article about Amazon‘s latest results and their plans for the future.
It was interesting in and of itself about trends the retail giant is following. But there were a couple of items in the piece that really caught my eye. One, was that Amazon only made an anticipated profit of $660 million in the last quarter and that was considered far too low by the themselves-unproductive midgets of of Wall Street.
Moreover, that profit was so “low” because Jeff Bezos is actively pursuing a policy that favours future earnings against current profits. Apparently the midgets call that “negative leverage” and the street hates it. Within that “hate” is revealed the utter stupidity of a quarterly-statement-driven market that devalues any constructive long term plans for tomorrow in favour of more billion-dollar yachts for fund managers today.
Capitalism intrinsically sucks in so many ways, but Wall Street manages to take the worst of it and make it even worse.