It's actually to keep people from trading on info before it's public. Every investor legally is entitled to get material info at the same time. Being this bru

It's actually to keep people from trading on info before it's public. Every investor legally is entitled to get material info at the same time. Being this brutally honest as a firm isn't easy. Sometimes you withhold for what seems to be good reasons - not scaring people, not distracting people, etc. Not everyone reacts well to such transparency. All this said, it did build a remarkably strong culture for them.