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(20-05-2014, 09:38 AM)CityFarmer Wrote: Well, I am always skeptical on comments that minority shareholders should get what they want, over-riding the majority shareholders' wishes. That is constricting to my version of "fairness".
There are means for minority shareholder to "reject" special resolutions with 10% AGAINST votes, but we do see many excuses not to do so. They are not even bother to fill-in the paper proxy form, and send to Chairman to vote on their behalf. FYI, nowaday, resolutions are mostly voted by poll.
One last point, if your interest doesn't align with majority shareholders', you always has a choice, sell you share and walk away. I had done so before
Yes. Minority shareholders have a choice to walk away and accept their 'fate'. They also have the alternative to organize and resist collectively.
In life, you cannot keep walking away.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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With regards to value investing, it really pays to research thoroughly on the track record of the board apart from just the numbers. And that's the tougher part as it's sometimes intangible/qualitative in nature.
There are perhaps a handful of companies here that are well-run, shareholder-friendly and fiscally disciplined. But like I said earlier, it's only a handful. I really do hope we could see more.
Call me evil but I'm actually hoping for more Glaucus/Muddy Waters-like attacks on our companies here in SGX. It keeps management on their toes, makes this place exciting and gets people talking. Too many lame duck shareholders around (which prolly explains the super low vol. in the overall markets recently).