2024-11-29
1 小时 12 分钟You're listening to tip.
Hey everybody.
Welcome to the Investors Podcast.
I'm your host, Clay Fink.
I'm absolutely thrilled to bring you today's episode as I'm going to be chatting about this wonderful book titled Quality Shareholders by Lawrence Cunningham.
Lawrence has an impressive and diverse resume.
He's the Director of the John Weinberg center for Corporate Governance at the University of Delaware.
He's also the Vice Chairman of the Board at Constellation Software and a Director at Markell and Kelly Partners Group.
When it comes to corporate governance, there is no one better to learn from than Lawrence.
Cunningham's also written a number of other excellent books including Quality Investing, Berkshire Beyond Buffett, Margin of Trust and the Essays of Warren Buffett.
When I first discovered the book Quality Shareholders, I thought it had somewhat of a cheesy title.
I mean, why would a company or its managers really care who their shareholders are?
Then once I started digging in, I discovered that the shareholder base is actually incredibly important and good managers should work to attract quality shareholders.
As Cunningham puts it, anyone can buy a stock in a public company, but not all shareholders are equally committed to a company's long term success.
Today's companies need quality shareholders, as Warren Buffett called those who load up and stick around or buy large stakes and hold for long periods.
During this episode I'll cover what constitutes a quality shareholder versus other shareholder types.
The edge that quality shareholders bring in terms of their investment approach, how quality shareholders impact the share prices of public companies, what managers can do to attract and retain such shareholders, how quality shareholders view executive compensation the number one job of the board in delivering value to shareholders, and so much more.
This book was an extremely fascinating read and it really resonated with me on so many levels as a quality oriented shareholder my myself.
So with that I bring you today's discussion on Quality Shareholders by Lawrence Cunningham.
Celebrating 10 years and more than 150 million downloads.