It’s a common complaint of value investors that boards (especially in this post-Sarbox world) are solely focused on quarterly earnings reports, to the detriment of long term strategy. One way to talk about the added and persistent value of some companies is to note that many of them have powerful, recalcitrant, or somehow anti-quarterly-cadence founders: buffet, zuck, you could make a list.
They would not be allowed to do so - too many shareholders. That’s why e.g. SpaceX will be going public even though Elon Musk would want to keep it private
Yes, but focused on it being the highest it possibly can _tomorrow_ or the highest it possibly can be in ten years is a huge difference. Only some executives have the ability to take actions based on a long view without being replaced by the board. Usually founders and near-founders.
Right so if you are already hyperfocused on tomorrow then focus on the end of the quarter is pretty much a wash in terms of short- versus long-term decisionmaking.
