Andrew Conner
@acon
It's a bit of a meme that corporations inefficiently (and un-optimistically) focus on short term profits over long term profits. And it sort of feels right, but... is it even true? There's a lot of counter examples, where big companies make long term investments at the cost of the "now" (Google, Amazon, Meta, etc).
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Andrew Conner
@acon
Governments have long term horizons, but that might just be structural, no? Anyone have any references on deep dives about this market inefficiency? Seems it's claiming that there's alpha in being longer term minded, but that also implies *you're right*, which isn't a given. Or is it just an anti-*profit* sentiment?
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