Bring on annual reporting?

Everyone from President Trump to JPMorgan  (JPM - Get Report)  CEO Jamie Dimon has talked out doing away with earnings releases, the quarterly statements that company's put out to discuss how they're doing over a specific time period, typically a quarter or a year..

So is removing that quarterly guidance a good thing for investors?  Don't we need actually more transparency these days?

The actual earnings release is an unaudited document put out by the company, so they get to pick and choose what goes into them.

"Think of them more as press releases," says Peter Lazaroff , co-CIO of Plancorp Financial Services, in St. Louis, MO. You generally do not put bad info in a press release.

And while quarterly reporting in the Form 10Q is not going to go away, there is talk about cutting that reporting back to twice a year. 

But again there are critics.  Our Real Money contributor James "Rev Shark" DePorre disagrees.

Who benefits from semi-annual versus quarterly reporting? The only group i can think of is corporate execs that want to hide something. #realmoney @herbgreenberg

- James DePorre (@RevShark) August 17, 2018

Meanwhile, TheStreet's Executive Editor Brian Sozzi there should be a Super Bowl of earnings season