Buffett, Dimon say quarterly profit forecasts harming economy

Bitcoin Surprise Surprise! Jamie Dimon and Warren Buffet Still Don’t like Bitcoin Rick D

Bitcoin Surprise Surprise! Jamie Dimon and Warren Buffet Still Don’t like Bitcoin Rick D

Warren Buffett and Jamie Dimon are doubling down on their plea for corporations to stop providing quarterly earnings guidance.

Although we've seen no immediate opposition to the proposed elimination of quarterly EPS guidance, it's not hard to imagine what at least one argument might be: just because companies don't publish the number does not mean they won't calculate such a number.

J.P. Morgan chief executive Jamie Dimon appeared on CNBC on Thursday to discuss why he doesn't think tariffs are the way to go.

Two of Wall Street's harshest bitcoin critics are once again warning investors of the dangers of bitcoin.

Berkshire Hathaway does not give earnings guidance as Buffett has said that executives can be tempted to manipulate figures to meet Wall Street analysts' expectations.

Woman gored by bison after crowd gets too close
Some of the visitors got even closer, agitating the bison and provoking it to cross the boardwalk and charge into Hancock. Hancock is the second person to be attacked by a bison this year, and the third hurt by wildlife in less than a week.


Meanwhile, billionaire investor Warren Buffett and Berkshire Hathaway Vice Chairman Charlie Munger told FOX Business' Liz Claman last month that bitcoin was "more expensive rat poison", after previously comparing it to the deadly chemical five years ago.

"When companies get where they're sort of living by so-called 'making the numbers, ' they do a lot of things that really are counter to the long-term interests of the business", Buffett said. JPMorgan Chase reported lower fourth-quarter earnings January 12, 2018 on weak trading revenues and one-time costs from USA tax reform, partly offset by gains from higher interest rates.Net income for the quarter ending December 31 was $4.2 billion, down 37 percent from the year-ago period.

Proponents of the practice say it improves communications with investors and ultimately results in fewer, not more, wild swings in stock prices. The only significant benefit it observed was an increase in trading volumes, which is good for day traders but not useful for most other people.

"It can put a company in a position where management from the CEO down feels obligated to deliver earnings, and therefore may do things that they wouldn't otherwise have done", Dimon said. "We are encouraging all public companies to consider moving away from providing quarterly earnings-per-share guidance".

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