Good reaction time cripples your opponent in the news business, right?Never mind the old days when newspapers tripped over each other to get exclusives out so the corner paper boys could shout "Extra! Extra!." Today, an ostentatious level of speed is thought to be essential to competing in news. The problem is that the emphasis on speed puts investors in harm's way, and needlessly so. We saw a textbook example in coverage late Wednesday of Capital One ( COF).
They Just Don't Get Capital One!
"The company said fourth-quarter net income fell to $226.6 million, or 60 cents a share, from $390.7 million, or $1.14 a share, in the year-earlier period. The results matched analyst forecasts, according to Reuters Estimates."Whoa, Nellie! A financial firm that matched analysts' forecasts? That must be managerial stewardship at play!