Right now, it is time to retire the term beat
and raise.
It just doesn't really capture what's happening.
In fact, it's throwing people off because it's too amorphous
a concept.
Now that we've effectively finished earning season,
I've been thinking about, I've been thinking about what the
takeaways are.
You know, the biggest take away is it's the way
we report on stocks,
all of us. It's not working anymore.
It's failing us. It's too clear,
too inconsistent, too unrepresentable companies.
Were the reportage is causing people to make snap judgments
that turn out to be false judgments.
And it's got to stop.
What a delegate. When the Dow slipped 23 points,
just beat the client .17%.
NASDAQ lost .55%. We got us pause.
We have to figure out what's going wrong with the
terminology because we need a new approach going forward if
we're going to be able to make money.
Except it's A&B against the current ways of reporting the
breaking news surrounding Lowe's and Home Depot.
And you know, both of those companies.
That's why this will be so cogent.
When these fantastic businesses reported early morning,
both were widely panned on multiple lines,
especially their forecasts. Within a few minutes of the quarters,
a bunch of ballots generated misleadingly negative stories.
It was quite clear that some of them were the
product of artificial intelligence.
We're talking simple contrast with without any regard for the
myriad factors that contributed to the line items in question.
These stories were not false,
so to speak. They correctly compared the posting numbers with
the analyst estimates.
They failed to include even an iota of nuanced explanation,
though, for what was described as a mess by the
writers.
Although in fairness, the writers have to come up with
something that describes the quarter or the future better.
And you hear that later in the show when we
talked to Marc Benioff from Salesforce.
Same thing happened this evening.
What can I tell you?
It no longer makes sense for us to try to
capture this story by using this beaten race concept.
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