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Trump and Warren agree: Corporations are holding back the economy

Trump and Warren agree: Corporations are holding back the economy

But both agree — apparently — that one of the structural problems in the economy is that corporations aren’t maximizing long-term hiring or growth because they are focused too much on short-term results.

The SEC requires quarterly reports, but many companies in Europe report only twice a year.

Trump’s tweet follows similar concerns expressed by CEOs Warren Buffett of Berkshire Hathaway BRK.B, +0.28% and Jamie Dimon of J.P. Morgan Chase JPM, +0.00% who argued in an op-ed that corporations should not provide quarterly financial guidance because such look-ahead guidance focused management too much on short-term fluctuations and not enough on growing their business for the long run.

Buffett and Dimon, unlike Trump, however, recommended that quarterly reporting of financial results should continue in interests of transparency.

American corporations are man-made institutions created by the people’s will to serve a public purpose in exchange for extensive legal privileges.

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