I don't believe that most investors really have a grasp on how "long term" Bezos' thinking is. It's not multi-year, it's multi-decade... maybe even multi-century[0].

This is all just speculation from his involvement with the Long Now Foundation, but one of their goals is to foster long lived institutions... I believe that this is Bezos' vision for Amazon and that investors hoping for it to stop its self investment and growth are in for a very long wait.

[0] http://www.wideopencountry.com/there-is-a-10000-year-clock-u...