Some executives contend that they need to adopt a short-term orientation given that the average holding period for stocks in professionally managed funds nowadays has dropped to less than one year....

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Extracted text: Some executives contend that they need to adopt a short-term orientation given that the average holding period for stocks in professionally managed funds nowadays has dropped to less than one year. Thus, there is no need to consider the interests of long- term shareholders since there are none. Comment on this reasoning.