• vrek@programming.devEnglish
      3·
      9 days ago

      Here’s the thing, Warren buffet argumently the best stock market person in history based everything on long term gains. P&g coke a cola etc long term company long term profit invest in them

      • tempest@lemmy.ca
        9·
        9 days ago

        Sure but he was also investing when the stock market was also slightly attached to reality which hasn’t been true in a decade at least.

        It was always gambling but now numbers must go up at all costs

        • vrek@programming.devEnglish
          12·
          9 days ago

          That has always been the case and is written into law that a publicly traded company must do anything possible to make more money.

          • Garnish2087@fedinsfw.appEnglish
            5·
            9 days ago

            It’s not actually law and that’s just what companies want to be the belief for them behaving reprehensibly

              • Garnish2087@fedinsfw.appEnglish
                1·
                8 days ago

                Yes, I believe you’re interpreting that page incorrectly. Fiduciary duties are law bindings for specific relationships and situations not applicable for all publicly traded companies to all shareholders.

                I believe you’re confusing that idea with the theory of shareholder supremacy that’s a claim, popularized by the likes of Jack Welch to support their actions.

                The background comes from Dodge v. Ford Motor Co. in 1919 which stated

                There should be no confusion… A business corporation is organized and carried on primarily for the profit of the stockholders.

                and the interpretation has been quite debated.