said by S_engineer:
the average stock is held for 22 seconds...this is thanks to algorithmic trading...
Verizon policies aside I agree that short term stock market focus makes it very difficult for corporate management to make long term strategic decisions.
I like the idea of a stock transaction tax. It has minimal impact on long term holdings but will discourage short term trading. Equity purchases should be determined because you are comfortable with the long term prospect of the the company not what its stock will do in the next minute, hour or even the next quarter. Any company can be profitable for a quarter.