Beware of Short-term Management, Not the Short-term Investor
Harvard Business Review
DECEMBER 1, 2011
I believe these arguments often miss a nuance: It is not the short-term investor but short-term management that is the problem. The short-term investor does not reduce the firm's long-term competitiveness and value;short-term management does. Indirectly though, these short-term traders can destroy value.
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