The current quarterly system of reporting finances was (I believe) developed as a result of the Great Depression, to help inform the public of company status.
The recent banking meltdown shows how inadequate this system is.
I think that's an interesting idea. I know that quarterly filings are an SEC requirement, but it's at least in part to help shareholders keep abreast of the goings on of the company in which they are part owners. It seems like completely realtime would overwhelm casual investors, but could provide for much more accurate trade decisions than those made on speculation and the current system of quarterly conference calls.
Another problem with the quarterly focus is that companies end up gaming the system (not in an entirely malicious way) in order to make the quarterly and annual results look good, almost like cramming for a final. It can detract from focusing on healthy long term growth.
The current quarterly system of reporting finances was (I believe) developed as a result of the Great Depression, to help inform the public of company status.
The recent banking meltdown shows how inadequate this system is.
Something more realtime is needed.