How Do You Judging the Future Prospects of a Company?

How do you balance the current fundamental picture of a company with what you hope the future prospects are going to be? How can you judge how the business will grow and develop? Well, there are many, many ways to attack that issue. If the economy is growing more rapidly than normal, when we're looking at a company, we will bring it back to a normal growth rate. When people say Amazon doesn't make any money or doesn't make much money, what they're really looking at the wrong sort of metrics because everything below the gross profit line at Amazon was an investment.