Trump’s call for patient capitalism

Investors in the stocks of corporations are often categorized as being either patient for long-term returns (the ants) or impatient for short-term profits (the grasshoppers). Mr. Trump tweeted that he had asked the Securities and Exchange Commission (SEC) to consider ending the practice of corporations issuing quarterly reports on their earnings and shift toward releasing such financial information every six months. In June, long-haul investor Warren Buffett and Jamie Dimon, the JPMorgan Chase chief executive, issued a joint call on behalf of some 200 chief executives to reduce “short-termism” in corporations by abandoning the quarterly earnings estimates.

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