Today my Yahoo page brought me yet another update on the financial results of a major corporation. I know, I know. These updates come out all the time. There’s nothing new here. True. But maybe it’s time we started acknowledging that the emperor has no clothes. It is simply ridiculous to evaluate a company based on the fact that it beat some estimate that probably should never have been made in the first place, by one penny.
One penny!
Is that the best we can do? Does this reflect the noble aspirations of the human soul? Does this reflect greatness? Is this what any of you want on your tombstone?:
Here lies John Doe
A great man, no less
He delivered an extra penny in EPS
I have no comment at all on Church and Dwight. But I have a lot to say about a system that is designed – designed! – to produce mediocrity.
Honestly. It’s time to cut this crap out. This investment community adds nothing to the world. They’re gamblers in fancy suits and they’ve convinced all of us to play their game. The brainpower and the soulpower of so many denizens of the corporate world are toiling away not to improve the world in any meaningful way but just to earn one penny of EPS.
Just stop. I mean it. Right now.
