Quarterly Reporting

“Quarterly reporting doesn't do much good. Transparency is fine, but it multiplies the work. Six-month reporting is good enough, in my opinion, and I'm talking about as an investor, because most of the world had six months anyway.”

“So we actually know the valuation consequences of quarterly reporting, and it's roughly a five percent loss of total equity value. Companies are five percent less valuable when they report quarterly than semiannual. So the academic research on this is pretty g…”

“Quarterly reporting, especially in the public markets, is a net negative for companies, for investors. I think it's intended to provide transparency, but it ends up doing short-term thinking.”