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Quarterly profit forecasts hurt economy, say Warren Buffett, Jamie Dimon

Buffett and Dimon said they are not opposed to the current practice of quarterly and annual reporting that ensures


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 US 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. Short-term-oriented ...

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First Published: Fri, June 08 2018. 01:37 IST