"Public companies should reduce or eliminate the practice of estimating quarterly earnings"
"Public companies should reduce or eliminate the practice of estimating quarterly earnings," states the header to Jamie Dimon and Warren Buffett's collaborative piece for The Wall Street Journal, published alongside their joint appearance at the Business Roundtable.
"Every generation of Americans has a responsibility to leave behind a stronger, more prosperous society than the one it found. The nation’s greatest achievements have always derived from long-term investments. In both national policy and business, effective long-term strategy drives economic growth and job creation."
The problem, they argue, is that the practice of public companies estimating their forward earning has driven a short-term view for investors that is harmful in the long term.
Full article on The Wall Street Journal - HERE