I appreciate the companies in my portfolio that don’t say much. They just do their work, and don’t advertise it.
There is a bias among promotional companies, that one must promote the company in every press release. I disagree.
Just be honest. If you don’t have anything significant to say, don’t say it. Spend your time on growing the business, rather than advertising accomplishments.
Truth: I would prefer that companies simply issue a 10-Q or 10-K, and do not hold a conference call for analysts. Just give us the data, and let us analyze it.
Let the analysts do their work, and don’t answer their phone calls. Create a genuine level playing field where no one gets to talk with management unless everyone is invited to listen.
I realize this is radical, but I am trying to be genuinely fair, which does not happen often on Wall Street.
By David Merkel, CFA of alephblog.com
