Let's go further guys.

Berkshire Hathaway's (BRK.A) (BRK.B) Warren Buffett and JPMorgan Chase (JPM) CEO Jamie Dimon warned in a Wall Street Journal op-ed against companies providing quarterly earnings guidance. In their collective wisdom, earnings guidance injects short-termism into the market and isn't reflective of how execs think about their businesses. Obviously both high-profile executives are talking their books here -- each company they lead is the ultimate long-term type investment.

Eighty-seven-year-old Warren Buffett is buying companies today that could be 500% more valuable by the year 2,200. Jamie Dimon is looking at a stock price explosion as boomers transfer their wealth to misguided millennial children -- misguided millennial children will need the guidance of JPMorgan's wealth advisers and stockbrokers (and their machine learning systems). But in reality, both Buffett and Dimon haven't gone far enough in their trashing of Wall Street's dumb system of sharing random numbers that may or may not please stock analysts and investors.

What should happen is that quarterly earnings are done away with for good, replaced by semiannual events. The quarterly earnings process is a joke -- it costs tons, and is focused squarely on driving trading profits for banks and three-minute live segments for business TV networks (which support advertising for bitcoin and options trading upstarts). Quarterly earnings aren't beneficial to long-term investing, which is how one should be thinking as a means to drive lasting wealth. That is my op-ed -- you can find it right in your email inbox or on www.thestreet.com.

Speaking of Short-Term 

Staying on the topic of short-termism, Panera Bread founder Ron Shaich will be talking about that topic Thursday at The Deal's annual corporate governance conference. I have known for Shaich for some time, and I can guarantee that his presentation will light up the room (full disclosure: I checked it out already).

More broadly, stay glued to TheStreet all day for coverage of the conference from our sister publication, The Deal. We will have exclusive video interviews, breaking news and more from headliners such as Shaich, Jim Cramer, Qualcomm  (QCOM) CEO Steven Mollenkopf, Macy's  (M)  CEO Jeffrey Gennette, and activists Nelson Peltz and Paul Singer. Follow on Twitter using the hashtag #CorpGov. 

About the Markets 

The move this week in the markets borders on remarkable considering rising geopolitical risk and signs of inflation. Just look at the action on Wednesday: Market breadth for the S&P 500 Index strengthened as 10% of companies rose to new 52-week highs, the most since March 12. Leaders included big-cap monsters: Apple (AAPL) , Amazon (AMZN) , Boeing (BA) , Microsoft (MSFT) and Visa (V) . Here's why Boeing's stock is on fire, FYI. Meanwhile, the Russell 1000 rose for the fourth day, up 0.9%. Searching for more tech stock plays besides FANG (Facebook (FB) , Amazon (AMZN) , Netflix (NFLX) , Alphabet (GOOGL) )? Check out these cyber-security names from Jim Cramer.