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- Manlobbi
Personal Finance Topics / Macroeconomic Trends and Risks❤
No. of Recommendations: 2
what are their current thoughts on this terrible idea? LESS transparency, LESS disclosure, have Buffett and Dimon gone wild? Buffett believes insiders, investment bankers, politicians, etc can keep secrets for 6 months? Buffett and Dimon need to spend a week in Brooklyn! Forgedaboutit!!
" Trump explored ending quarterly earnings reports during his first term, saying at the time that he had spoken to top business leaders and arguing it would allow for more long-term planning. In 2018, he asked regulators to study such a change, but the effort went nowhere.
That same year, JPMorgan Chase CEO Jamie Dimon and legendary investor Warren Buffett co-authored an opinion piece in The Wall Street Journal supporting the idea to move away from reporting quarterly earnings estimates, though made clear they weren’t opposing quarterly reporting itself. The pair argued that companies hold back on spending and hiring to meet quarterly earnings forecasts.
Publicly traded corporations have been required to submit quarterly earnings reports since 1970.
Write to Natalie Andrews at natalie.andrews@wsj.com and Corrie Driebusch at corrie.driebusch@wsj.com"
https://www.wsj.com/finance/regulation/trump-calls...
No. of Recommendations: 11
I agree with Trump on this.
I would add:
The difference between Donald Trump & Gavin Newsom is Trump looks around everyday and tries to fix things. You may not agree with his thought process or solutions but he is always trying to make change where he sees the potential for improvement. Gavin Newsom has been in office forever and fixes nothing. I have never heard him suggest a plan to fix anything important in California. Just more of the same. His only solution to everything is more taxes.
By the way. What has happened in America to our freeways. Why do we have a pay express lane? Not just a CA issue? Why should I have to pay extra to drive on a road that my tax payments already funded and built. Because some consultant convinced many cities that they can generate revenue from charging their citizens to use a lane they already paid for to prop up government salaries and pensions. Why don't politicians care about their constitutes? I would add that I would bet that only a small portion of the revenue goes to the government and most it lands in the lap of the consultants that sold them the system and the company that manages it.
No. of Recommendations: 42
...Trump looks around everyday and tries to fix things.
LOL. If by "fix" you mean rig in his favor, then I agree 100%.
IP
No. of Recommendations: 3
No. of Recommendations: 1
“ Gavin Newsom
Could be a case study of sociopaths.“ The question is, do Buffett and Dimon support less transparency and less disclosure from our public companies. Stay focused. Thank you.
No. of Recommendations: 33
It seems unfortunate that so many people confuse two things
* Quarterly reporting, and its pros and cons
* Investors (and sometimes managers) placing undue emphasis on the short term numbers in the report, and the pros and cons of that
I'm very much in favour of the first one. Things going wrong get spotted sooner and in general there is a closer match between what is going on and what investors think is going on, both of which helps both rational investors and prudent societal capital allocation.
The second item is dumb, and should be discouraged. Investors can and will do whatever dumb thing they want no matter what you tell them, so most of the discouragement would be anything managers might do that is counterproductive.
Banning the first one won't fix the second one, as investors and managers will just shift to using short term news and press releases and rumours, both true and false.
Besides, if the problem is managers manipulating things to "tweak" results every three months, a switch to every six months would presumably just lead to twice as much tweaking half as often.
Of course longer gaps between reports will help keep investors in the dark that much longer, making it easier for the unscrupulous to take advantage of them for longer, increasing the aggregate money flow from the chum to the sharks. Which could perhaps be the point of the mooted change.
Jim
No. of Recommendations: 1
"Of course longer gaps between reports will help keep investors in the dark that much longer, making it easier for the unscrupulous to take advantage of them for longer, increasing the aggregate money flow from the chum to the sharks. Which could perhaps be the point of the mooted change.
Jim"
Since this is so obvious why would Buffett and Dimon be uncertain or confused?
No. of Recommendations: 3
I think a bipartisan Senate group decided that 7 died because of Jan 6th, yet another day of "fixing" problems.
No. of Recommendations: 0
" I think a bipartisan Senate group decided that 7 died because of Jan 6th, yet another day of "fixing" problems."
Perfect!
No. of Recommendations: 5
"...Trump looks around everyday and tries to fix things.
"LOL. If by "fix" you mean rig in his favor, then I agree 100%."
Trump fixed our previously porous southern border problem in a matter of weeks. Hmmmmm...? That wasn't so difficult, was it?
Seventy plus million United States citizens (majority) voted for this.
(Exhibit A: US County by County 2024 presidential election results).
The support for Trump amongst formerly strong dem strongholds is growing(look to Silicon Valley).
Trump is indeed fixing problems. Some just don't like his solutions.
Europe should watch and learn. Probably too late for them though.
No. of Recommendations: 3
...Trump looks around everyday and tries to fix things.
LOL. If by "fix" you mean rig in his favor, then I agree 100%.
IP
I can't believe that 24 people recommended this post.
Are you all capable of any balanced reasoning at all.
TDS is clearly alive and well!
No. of Recommendations: 1
Semi annual reporting of earnings is not less transparency.
Companies can release updates on their businesses at any time. Some credit card companies release monthly charge-offs. Some Autos release monthly sales. Interim updates can be released at any time.
However, the majority of companies don't have a dramatic change in business every 90 days. I have worked for a few S&P 100 companies. The amount of effort necessary to meet this quarterly requirement is substantial.
Do I care if BRK, BAC, MSFT, etc? Report earnings every 90 days? I don't. CNBC might? They need advertising dollars. The 90 day period is arbitrary. So is 6 months. But the key is be open to ideas that may improve the life of everyone. Trump is just proposing to rethink how we do things? And yes in this instance I think 6 months is better than 3 months.
No. of Recommendations: 38
LOL. If by "fix" you mean rig in his favor, then I agree 100%.
I can't believe that 24 people recommended this post.
Are you all capable of any balanced reasoning at all.
I can’t believe so few recommended it. Perhaps readership is down this week because of the nice weather.
No. of Recommendations: 5
Thank you for clearing that up.
It has been a pleasure communicating with all of you over the many years.
However, this will be my last post.
Have a great life. But I no longer get anything valuable from this board.
No. of Recommendations: 6
Don't leave.
Politics brings out the worst in us --- and unmasks people, bringing up their most primitive instincts: Pure aggression to the other "tribe".
I am as fed up with this political BS as you are--- and many others are too.
Don't leave. Stay for those other ones, even if it's a small minority.
It's not about the head count (rec´s), it's those ones that count.
No. of Recommendations: 2
Addendum: One could even see this political BS on the Berkshire board as a test. Those ones who rec those posts fail it, sorry guys. And of the other ones you never hear. Stay for those ones.
No. of Recommendations: 3
"Europe should watch and learn. Probably too late for them though."
Maybe there is still hope for Europe:
Donald Trump given royal welcome at Windsor Castle as second UK state visit begins
https://www.youtube.com/watch?v=VDkVyzPO6rc
No. of Recommendations: 47
I am as fed up with this political BS as you are--- and many others are too.
Don't leave. Stay for those other ones, even if it's a small minority.
I hope no one leaves as well, but one observation: Gator started the political commentary in the very first response in this thread by invoking a politician in a different party using HOV lane management as proof of something? The politician isn't even elected on the federal level. I read it twice and still don't know what he was getting at.
Then when he found out some people disagreed with his politics he picked up is ball and went home.
Again, I don't want anyone to leave, but if you want to talk politics AND have everyone agree you, this probably isn't the right board.
No. of Recommendations: 2
" Have a great life. But I no longer get anything valuable from this board."
good morning, clarity with respect to Buffett and Dimon's current thoughts on legislation requiring less transparency and less timely disclosure isn't relevant to you and most investors? I didn't ask what trump or Newsom thought, that's another issue.
No. of Recommendations: 4
" Do I care if BRK, BAC, MSFT, etc? Report earnings every 90 days? I don't. CNBC might? They need advertising dollars. The 90 day period is arbitrary. So is 6 months. But the key is be open to ideas that may improve the life of everyone. Trump is just proposing to rethink how we do things? And yes in this instance I think 6 months is better than 3 months."
No one is suggesting that you be mandated to read every quarterly report, comprende? Many investors would like to hear quarterly what impact current policies are having on their business. Simple.
No. of Recommendations: 8
For me it isn't as political as it is simply a people vs topic thing, the attempts to make sure we discuss only business models and stocks are somewhat flawed. We are basically encouraged to not discuss people or their personal qualities in the forums, the very thing that our mentors Buffett and Munger hold in the highest priority and probably put before anything else. It is what it is.
No. of Recommendations: 7
We are basically encouraged to not discuss people or their personal qualities in the forums, the very thing that our mentors Buffett and Munger hold in the highest priority and probably put before anything else.
If Warren would speak about people with the vile and hatred it's done here when it´s about politics he for sure wouldn't be my "mentor". Tiny difference.
No. of Recommendations: 1
Sorry, I meant "venom".
No. of Recommendations: 4
I dunno Dealraker. Please allow me to offer my humble reasoning as to why it makes some sense to have guidelines to discuss only business models and stocks vs. “people vs. topic things.”
+ Focus, Higher Quality and Respectful Community…
IMHO - it helps the platform avoid personal attack, misinformation and promotes constructive dialogue. By concentrating on objective analysis of BRK and it’s financial performance Shrewd becomes a more valuable resource for novice investors like yours truly.
Just one man’s opinion.
Respectfully,
PaulnKC
No. of Recommendations: 1
PaulnKC I respect your view completely, but disagree with it even more completely. Ha!
Life is great...if you can stand it.
No. of Recommendations: 1
Same for drinks companies?
As Jim says, some of them are looking attractively valued from historic standards, it's the future that matters though.
No. of Recommendations: 0
The SEC chair Paul Atkins coming on cnbc to address this issue and others.
Companies that choose to file semiannually will no longer have quarterly calls, I guess. Why would Buffet or Dimon support that?
Rethink it!
No. of Recommendations: 0
SEC to propose rule change to end quarterly reporting, says Chair Atkins, it’s on the cnbc site, I can’t share it.
No. of Recommendations: 1
No. of Recommendations: 1
