 A related interpretation concerns the supposed short-sightedness of speculation. It is often argued that financial agents and markets are “myopic” in the sense that they care only about profits in the very near term, e.g., the next quarter (Dallas 2012). Modern disclosure requirements force companies to publish quarterly earnings reports. The myopia of finance is typically blamed for negative effects such as market volatility, the continuous occurrence of manias and crashes, inadequate investment in social welfare, and the general shortsightedness of the economy (e.g., Lacke 1996).