Tokenism Voter, page-7

Agree re the corporate world, however at least they hold the relevant qualifications and experience in most cases. I don’t see how a union leader qualifies you to be on a board that manages 1-100bn in assets from listed stocks to complex derivatives and alternative private equity investments? I’d argue you’d only want investment bankers with relevant experience in each area on said boards. This rarely happens.

Regards to your other post. It shouldn’t be a vote per shareholder goodluck trying to trace individual shareholdings ultimate owner. Could put 1 share in 10,000 different entities etc. manipulate votes if one was inclined.

The current system is technically fair in that your % vote counts. Imagine if you owned 20% of a company? Or even 50%? Private or listed, it doesn’t matter. Then say 10 shareholders who own 0.000001% best your 50% in voting? You want a propornate vote due to the equity (risk) you old. My issue is the kind of what you’re saying, it’s the nominee votes from 1 investment bank who holds say 15% of all shares. However those shares belong to say 5 different superfunds with 100,000 members who technically own the shares... the members should have the say, however they don’t. The superfund usually doesn’t even bother too. The investment banks decide.

How do you fix this without mountains of unrealistic and costly administration? Probably an app where members click yes or no. However the problem is 99% of the population doesn’t even know what a stock is, let alone voting. Or even worse where their superannuation is invested... or again even have basic financial literacy, so in reality this won’t work, ever. Imagine if a bunch of greens bought 1 share each and radically changed a mining co? Just putting examples of extreme cases.

You could make the superfund boards or at least internal investment teams responsible. However again, a lot of work for 1000s of shareholdings around the world.

So playing devils advocate here - the current system can’t practically change. Unless of course a white knight such as Buffett took a 20% stake and shook up the room. Highly unlikely I don’t have a lazy 2bn to take a 20% odd stake in TAH! Do you? if we were billionaires we could change a couple of the companies - and I would! But that’s never going to happen.