By Jeff Gramm

A sharp and illuminating background of 1 of capitalism’s longest working tensions—the conflicts of curiosity between public corporation administrators, managers, and shareholders—told via pleasing case experiences and unique letters from a few of our so much mythical and arguable traders and activists.

Recent disputes among shareholders and significant businesses, together with Apple and DuPont, have made headlines. however the fight among administration and people who personal inventory has been occurring for almost a century. blending never-before-published and infrequent, unique letters from Wall highway icons—including Benjamin Graham, Warren Buffett, Ross Perot, Carl Icahn, and Daniel Loeb—with masterful scholarship insight, Dear Chairman traces the increase in shareholder activism from the Nineteen Twenties to this day, and gives a useful and remarkable standpoint on what it skill to be a public corporation, together with how they paintings and who's particularly in control.

Jeff Gramm analyzes assorted eras and pivotal boardroom battles from the final century to appreciate the criteria that experience triggered shareholders and administration to collide. all through, he makes use of the letters to teach how traders engage with administrators and executives, how they consider their objective businesses, and the way they plan to benefit. every one is an interesting instance of capitalism at paintings advised throughout the voices of its so much colourful, influential participants.

A hedge fund supervisor and an accessory professor at Columbia enterprise university, Gramm has spent as a lot time comparing CEOs and administrators as he has attempting to comprehend and price companies. He has noticeable public businesses which are poorly run, and a few that willfully disenfranchise their shareholders. whereas he can pay tribute to the ingenuity of public corporation traders, Gramm additionally exposes examples of shareholder activism at its very worst, whilst hedge cash engineer stealthy land-grabs on the rate of a company’s long-term clients. finally, he presents a radical, much-needed figuring out of the general public company/shareholder courting for traders, managers, and everybody eager about the way forward for capitalism.

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