The Stock Market Today
The problem is that today’s stock market is not your father’s (or grandmother’s) stock market. The world has changed. The concept of trying to find a sound business that can be expected to show steady growth for significant periods of time is no longer viable. Today’s stock market is dominated by businesses that are run by executives who sacrifice the longer term, seeking profits for today. And why shouldn’t they? Some CEOs are rewarded for boosting the current stock price, not to build businesses that can prosper and grow over the next few decades. The current quarterly earnings report is far more important than the future because of how company executives are compensated. Thus, earnings growth can be manipulated and there ...
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