To substantiate his claim, he noted that Amazon’s customer count increased from 14 million to 20 million between 1999 and 2000, sales climbed from over 68% to $2.76 billion, pro forma operating loss narrowed by 6% and average spend per customer rose 19%, among other things.

Bezos tapped into the wisdom of Benjamin Graham, who is widely called the father of value investing. The Amazon founder quoting Graham said the stock market is like a voting machine in the short term and a weighing machine in the long term,

“Clearly there was a lot of voting going on in the boom year of '99—and much less weighing,” Bezos said.

“We're a company that wants to be weighed, and over time, we will be—over the long term, all companies are. In the meantime, we have our heads down working to build heavier and heavier company,” he added.

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Why It’s Important: On Monday, Amazon shares fell a little over 4%, less than what most of its mega-cap tech peers lost. Bezos is not part of the active management team of Amazon now and serves as chairman of the board, and the e-commerce giant is led by his successor Andy Jassy.

From the post-dotcom bubble burst bottom of a split-adjusted 30 cents per share (split-adjusted price), the stock has risen to $161.02, a gain of about 54,000%.

The SPDR S&P 500 ETF Trust (NYSE:SPY), an exchange-traded fund that tracks the S&P 500 Index, ended Monday’s session down 2.91% at $517.38, according to Benzinga Pro data.

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• Jeff Bezos Now Owns Less Than 9% Of Amazon, Billionaire Divests $863.5M Worth Of Shares As Part Of $5B Liquidation Plan 

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