For Exxon Mobil, $10.9 Billion Profit Disappoints - New York Times

Exxon Mobil, the world’s largest publicly traded oil company, said Thursday that its first-quarter net income rose 17 percent, boosted by surging oil prices.

But even as it posted the second-most profitable quarter in its history, Exxon’s earnings managed to disappoint investors because of a drop in oil production. Shares were down more than 3 percent Thursday after the company missed earnings estimates by a dime a share

Stories like this are partly the reason that I now believe that the stock market, while an interesting idea and a unique way to drive investment into new ideas, is poison in the long term. Initially the value of a new business will raise as they pursue new ideas and aggressive growth. Eventually though the business will mature and no matter if that business is still making money the perceived value will drop.