Roger Ehrenberg submits: One of the things that really irritates me about the U.S. public markets - and the mind-set of many U.S.-based institutional investors - is an emphasis on short-term results. There are inherent, structural, perverse incentives for corporate executives to do things that maximize short-term results to the detriment of long-term shareholder value. And this is a shame, for investors, executives and the economy alike.
Every so often I read a story that flies in the face of this approach, providing an example of a company or companies that eschew short-term thinking and instead choose to take the long view. And I know, I KNOW, this is the right thing to do. I just read one of these stories, and surprise, surprise, the company mentioned is not a U.S.-based enterprise - Honda Motor Company (HMC).
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