Dimon and Buffett emphasize that they are not opposed to quarterly and annual reporting—that communication is critical to shareholders and that companies should be transparent about financial and operating results. But they believe information should be “provided on a timeline deemed appropriate for the needs of each specific company and its investors, whether annual or otherwise.”

The article concludes: “Reducing or even eliminating quarterly earnings guidance won’t, by itself, eliminate all short-term performance pressures that U.S. public companies currently face, but it would be a step in the right direction. Anything America—and America’s public markets—can do to focus on the future and build long-term wealth and opportunity will make the country stronger, more resilient and more competitive.”

Related: Funds Could Boost Expected Rates of Return

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