Defenders of the oath reply that the goal of maximising shareholder value has become a justification for short-termism and, in particular, rapid personal enrichment.

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These choices are often made on the basis of projected earnings, book value, or some other fundamental justification.

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Decisions regarding the stock appear to be made first based on the price action and then justification of the recommendation is made using the fundamental data that has shown to be of no value in predicting the moves of Apple stock in the very short-term.

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