[rb808]

> The way the stock market is designed (and the fact that stockholders often get to appoint the board who gets to appoint the CEO) means they're going to put short term profits over long term viability. Many companies have been ruined and continue to be ruined by this short-term-ism chase for quarterly and yearly profits.

That's a myth. Yes CNBC loves short term stuff as it makes good TV. In the real world see Black Rock (biggest asset manager) CEO public urging long term focus https://www.blackrock.com/corporate/investor-relations/larry... . See also Amazon and all the other profitless companies just listed as good examples that long term has value.

[Someone1234]

You call it a "myth" then use one example, that disproves the point (why urge to act against a "myth") and another that's a single data point, while ignoring the rest of the market.

That's a pretty poorly explored position.

[rb808]

I would have though that the CEO of the world's largest investment company would count more than "one single data point". I know there are a few examples of short term investors ruining a company - but have you any examples of companies punished for choosing long term over short term?

[Someone1234]

> I would have though that the CEO of the world's largest investment company would count more than "one single data point".

I said that CEO undercuts your point. You claimed short-term-ism was a "myth," then quoted a CEO saying that a lot of people focus on short term investing, rather than long term investing. Therefore making it not a myth, according to your own source.

[rb808]

Maybe you should actually read it. He said companies might be tempted by maximizing short-term returns because we are late in the economic cycle.

[Someone1234]

Therefore making it not a myth that people do so. Did you read it?