In recent weeks, President Donald Trump has publicly criticized Amazon more than five times over tax issues and his ownership of the Washington Post. The timely barrage ended Amazon’s stock market winning streak with a loss of more than 8 percent in the company’s shares. But Bezos is holding pat and biding his time, as did the CEOs of Boeing, Lockheed Martin, and even The New York Times, all companies that have seen their share prices skyrocket after the president’s Twitter attacks fizzled.
The curious thing is why Bezos is so restrained, given his notorious reputation for volcanic outbursts. His patience would be summed up by a mixologist as one shot of Mark Twain (“don’t get into a letter writing contest with people that buy ink by the barrel”) and one shot of Warren Buffett.
Through their mutual friendship with fellow Seattleite, Bill Gates, Buffett has gotten to know and like Bezos, and found him to be someone he could to business with — culminating in a joint venture with JPMorgan Chase’s Jamie Dimon on a new public healthcare company.
“Warren Buffett taught Bezos something he learned over many years, that patient capital and patient temperament go hand in hand.”
But Buffett taught Bezos something he learned over many years, that patient capital and patient temperament go hand in hand. It’s telling that since at least 2013, Bezos has been quoting Buffett’s mentor, the legendary Benjamin Graham, in company meetings, interviews and letters to shareholders: “In the short term, the stock market is a voting machine. In the long term, it’s a weighing machine.”
When Buffett gets attacked, whether by a trading scandal at Salomon Brothers or insider wheeling and dealing by a Berkshire senior officer, he analyzes the betting, waits for the right moment and attacks when the odds are in his favor. For Bezos that time will come.
It begs the question, what is Trump thinking? Those who know him say he can be a loyal friend but has a dark side that can be vicious. He likes to go after big players like Bezos, just as he has attacked the media or Wall Street, and then does an about face and cuts a deal. Bezos knows this. But he also knows Trump will eventually tire of gnawing on the Amazon bone and the stock will recover. Then, in 2020, there will be an election and that may be about the time the moment presents itself.
Welcome to America 2018.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
