[treyd]

Investors do have that data, and they clearly seem to disagree through their investment strategies, and it seems to be turning out well for them enough for that strategy to be consistently profitable, so your hunch may be wrong.

[danaris]

Investors are pushed to care about this quarter's revenue, and discouraged from caring about anything else, by a host of warped and unintentional incentives.

I don't think we can use their behavior as an indicator of what's optimal over the long run.