Buffett, Dimon and Bezos have a CEO for their health care venture

Bitcoin's critics Warren Buffet and Jamie Dimon reiterate warning

"It can put a company in a position where management from the CEO down feels obligated to deliver earnings, and therefore may do things that they wouldn't otherwise have done", Dimon said.

Dimon, who leads the Business Roundtable, an association of chief executive officers of leading United States companies said the move is supported by the group, added the report.

Berkshire Hathaway Inc, Amazon.com Inc and JPMorgan Chase & Co within the next two weeks will likely name a chief executive for their joint venture aimed at lowering the cost of health care, billionaire investor Warren Buffett said in an interview aired on Thursday on CNBC. The group said public companies should be managed for long-term prosperity, not to meet the latest forecast.

In their op-ed piece, Buffett and Dimon argue that "effective long-term strategy drives economic growth and job creation" and that quarterly EPS guidance "often leads to an unhealthy focus on short-term profits at the expense of long-term strategy, growth and sustainability".

Several big companies like AT&T, Coca Cola, Facebook and UPS have stopped issuing quarterly earnings guidance. "Public guidance was the fix for many companies".

Jeep reveals India-bound Renegade SUV ahead of Turin Motor Show
Renegade, which include a turbocharged 1.4-liter, good for 160 hp, and a naturally aspirated 2.4 liter producing 180 hp. At the back, the Renegade's tail-lights get slightly reprofiled, making them look fresher than the outgoing model.

When the actual earnings results are officially reported, so-called beats - or profit results that top expectations - are often rewarded with a rise in the stock price.

The two executives said on CNBC Thursday that companies that focus on hitting their quarterly numbers may do things that hurt them in the future, such as delaying investments or changing when certain gains are recorded.

"Short-term-oriented capital markets have discouraged companies with a longer view from going public at all, depriving the economy of innovation and opportunity", Buffett and Dimon wrote. Public companies owe it to all of them to get this right, they said.

Those in favor of guidance say it improves communications with Wall Street, reduces share price volatility and boosts a stock's value.

Neither Buffett and Dimon nor the Business Roundtable is arguing against quarterly or annual reports from public companies.

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