- Berkshire Hathaway CEO Warren Buffett and JPMorgan Chief Executive Jamie Dimon co-authored an oped in the Wall Street Journal.
- They said the pressure of companies having to meet short-term estimates is hurting the US economy.
- They told companies to move away from providing quarterly guidance.
(Reuters) - Billionaire investor Warren Buffett and JPMorgan Chase Chief Executive Jamie Dimon voiced concerns that the financial markets' focus on short-term goals is hurting the economy and urged companies to move away from providing quarterly earnings guidance, according to the Wall Street Journal.
The pressure to meet short-term estimates has contributed to a fall in the number of U.S. public companies, wrote Buffett, chairman of Berkshire Hathaway Inc , and Dimon, who is also the chairman of top executives' lobbying group Business Roundtable, in an article on Wednesday.
See the rest of the story at Business Insider
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from Business Insider https://ift.tt/2sBPEeS
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