Interesting debate even if no one else is contributing.
If your going to sink a lot of money into a project (or company), you want to be able to have some control over how its managed, hence why top 20 get 'their' people on boards etc.
If there was an important decision and I was a top % holder and I got out voted by 100 odd smaller holders that didn't even have half my holding I would move my money elsewhere.
money talks its as simple as that
Off topic
I generally always vote at AGM's with my larger blue chip holdings but rarely vote with my smaller (generally non-blue chip) holdings (less than 20k).
I wasn't even aware I was doing this until I read this thread.
Also I wasn't aware that so few people vote, thanks for bringing it to my attention
peace out Anatinus
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