Blackrock CEO Says Ignore Earnings Reports (02/17/2016)

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Earnings reports used to be vehicles of hype and excitement, but now that they no longer are pumping stocks and many stocks have actually dumped on earnings announcements the past few months one CEO is telling people to simply ignore them and just buy and believe.

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BlackRock CEO Larry Fink’s recent letter to 500 chief executives urging them for the first time to stop providing quarterly earnings estimates, is yet another plea for long-term value creation. Today, many companies are expected to execute corporate policies that reflect short-term earnings growth, thus forcing investors to rely mainly on what a stock is worth. When company forecasts are heavily based on earnings, one of the biggest problems is that they have been known to be overly optimistic.

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