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Friedman had a very mystical conception of the market - viewing almost as a collective intelligence - and would say in this case that its judgment of the compan
by cbzbc 4y ago
Friedman had a very mystical conception of the market - viewing almost as a collective intelligence - and would say in this case that its judgment of the company strategy was correct.
- WalterBright 4y agoI haven't seen any evidence that Friedman advocated short term profits over long term results.
- cbzbc 4y agoHis view would be that if the stock price went up as a result of some action then that action would be the right one (its orthogonal to the point about short term profits).
- aaomidi 4y agoAgreed, this is the definition of short term profits
- WalterBright 4y ago> this is the definition of short term profits That's not remotely true. Stock prices are based on long term fiscal results. If shareholders get a whiff of a company sacrificing long term results for short term profits, the share price tanks.