Chapter 10
In the Long Run, We’re All Dead
Why the Much-Maligned Investor Short-Termism and Managerial Myopia Are Myths
In This Chapter
- Surprise: long-term investors dominate capital markets.
- Investors’ myopia is often an excuse for ill-advised managerial decisions.
- Monitoring long-term projects requires short-term benchmarks, but that’s not myopia.
- Successful managers manage both the short and the long term.
“Breaking the Short-Term Cycle” is the dramatic banner of a joint call for action by the influential Business Roundtable and the CFA Institute aimed at freeing managers from the shackles of all those pesky short-term investors:
The Panel agrees that an obsession with meeting short-term expectations of varying constituencies too often ...
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