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Investment Analysis Clubs / The BMW Method
|Subject: Re: Debunking Stock Market Myths||Date: 8/25/2007 8:02 PM|
|Author: BuildMWell||Number: 26543 of 42013|
"Now, let's see, I'm buying 200 shares of Coca Cola. How can I contribute to the company as an owner?" - Denny Schlesinger
Denny, I look at my ownership position as that of an absentee owner. I am too busy and my time is too valuable to get involved with the day-to-day operations. I pay the Board and CEO to handle the mundane, boring details for me. I know the business would be better off if I ran things but, I need my space. After all, I am retired.
"The other day I saw something that was bothering me and I fire off an email to investor relations. Nine out of ten times I'm ignored and the tenth time I'm brushed off with some inconsequential reply." - Denny Schlesinger
I ran into this with Duke Energy. I live just a short distance from the headquarters building and was silly enough to think that because I personally know some Duke executives that I might get a reply to my letter. Of course none of my acquaintences works in investor relations. After two follow-ups, I just gave up. This led me to realize that I was definitely an absentee owner. They certainly can do without my guidance. That is good because the younger chaps need to learn to fend for themselves. Duke seems to be doing quite well without my help.
If I get really pissed off I will sell my position and really show them by unleashing the wrath of The BuildMWell Company's powerful influence. But, for the time being I will ride Duke's CAGR gains.
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