Forces the information to be free. Analysts read disclosures and provide targets that other people follow
Agree, seems reasonable. But I've never understood why including the disclosures is so important when basically nobody reads them - it doesn't actually protect investors, it just checks a process box.https://twitter.com/_slinehan/status/940428533171499008 …
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It's because if you're allowed to leave anything out of the prospectus, what to include becomes a judgement call. And that typically doesn't end well. 100% disclosure (even of trivialities) is the bar.
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