Jamie Dimon, chief executive officer of JPMorgan Chase & Co., poses for a photograph ahead of a Bloomberg Television interview on the sidelines of the JP Morgan Global China Summit in Beijing, China, on Tuesday, May 8, 2018. Dimon said theres no reason why U.S.-China issues cant be bridged. Photographer: Giulia Marchi/Bloomberg
BENGALURU: Billionaire investor Warren Buffett and JPMorgan Chase chief executive Jamie Dimon (pic) voiced concerns that the financial markets’ focus on short-term goals is hurting the economy and urged companies to move away from providing quarterly earnings guidance, according to the Wall Street Journal.
The pressure to meet short-term estimates has contributed to a fall in the number of US public companies, wrote Buffett, chairman of Berkshire Hathaway Inc, and Dimon, who is also the chairman of top executives’ lobbying group Business Roundtable, in an article on Wednesday.
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