Buffett says health venture CEO pick to be disclosed in weeks

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But Buffett says the practice of CEOs providing a heads-up on how earnings-per-share results are shaping up often causes them to make poor decisions to ensure that the company beats or meets the results they've communicated to Wall Street.

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.

Buffett, who is chairman of Berkshire Hathaway Inc (BRKa.N), and Dimon wrote in a Wall Street Journal column on Thursday that the pressure to meet short-term estimates has contributed to a fall in the number of US public companies.

It is a long-simmering debate but one that has gotten more attention in an era when activist investors are more vocal about pushing companies to deliver on their promises.

Two of Wall Street's harshest bitcoin critics are once again warning investors of the dangers of bitcoin. Missing "the number" can often result in big, short-term stock moves.

Princess Charlotte takes a tumble at Queen's 92nd birthday celebration
Charlotte wasn't the only royal child who caused a scene during the official celebration for Queen Elizabeth's 92nd birthday. Her husband, Prince Philip, the Duke of Edinburgh, turns 97 on Sunday and has retired from public duties.


Buffett's Berkshire Hathaway doesn't give guidance, which Buffett has said can tempt executives to manipulate numbers to meet Street expectations. In an interview earlier today on CNBC, Warren Buffett and Jamie Dimon told viewers to "beware" of bitcoin.

According to Buffett and Dimon, the focus of companies on short-term profits run counter to the long-term interests of the business. An outsized emphasis on quarterly earnings per share projections undermines the importance of investments in infrastructure, workforce development and other crucial capital expenditures that drive sustained USA economic growth.

Instead, McKinsey found, the practice of giving quarterly guidance took up valuable time from management and made them focus too much on the short term.

Both men said they still want companies to release detailed quarterly and annual financial data, so investors can evaluate them. Despite the short-term hit to results from the tax bill, chief executive Jamie Dimon hailed the measure as a boon for the U.S. economy."US companies will be more competitive globally, which will ultimately benefit all Americans", Dimon said in a news release.

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