Buffett, Dimon and Bezos have a CEO for their health care venture

Buffett, Dimon and Bezos have a CEO for their health care venture

Berkshire Hathaway Inc, Amazon.com Inc and JPMorgan Chase & Co within the next two weeks will likely name a chief executive for their joint venture aimed at lowering the cost of health care, billionaire investor Warren Buffett said in an interview aired on Thursday on CNBC.

Two of Wall Street's harshest bitcoin critics are once again warning investors of the dangers of bitcoin.

Dimon, is chairman of the Business Roundtable, an association of almost 200 CEOs that is also backing the push to eliminate so-called short-termism.

Although we've seen no immediate opposition to the proposed elimination of quarterly EPS guidance, it's not hard to imagine what at least one argument might be: just because companies don't publish the number does not mean they won't calculate such a number.

Investor Warren Buffett gestures on stage during a conversation with CNBC's Becky Quick, at a national conference sponsored by the Purpose Built Communities group that Buffett supports, in Omaha, Neb., Tuesday, Oct. 3, 2017, Buffett discussed what philanthropy can do to help fight poverty. CEO Jamie Dimon appealed for radical changes to the way public companies disclose financial information.

Dimon has blasted excessive reporting requirements and the short-term focus of quarterly earnings.

Quarterly results are influenced by the weather, commodity prices and other factors beyond the control of CEOs, Dimon said.

Dimon said Thursday that about 20 percent of Business Roundtable members still do quarterly guidance and about 60 percent provide annual targets. They offered "common-sense" recommendations for public companies to improve governance and relations with shareholders.

Dimon said companies might forego investments they should make in their business, such as marketing, hiring or research, in order to hit short-term goals. Missing "the number" can often result in big, short-term stock moves.

Buffett and Dimon also blamed the practice for contributing to the decline in the number of public companies in the USA over the past 20 years.

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