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Author: ObliqueApproach Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76418  
Subject: Re: After meeting with a Financial Advisor Date: 10/6/2003 4:52 PM
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A few small comments:

When you buy a fund, you give up your stock voting rights to the fund manager. Fund managers almost always vote with the company management.

Most individual shareholders (99%?) don't own enough shares to make any difference in proxy voting. Not sure where you going with this.

The individual investor has given up control to the "experts" who have no real interest in the individual. If they do not like what a company is doing, they do not blow the whistle on the business, they just sell it.

What would you have them do? Engage in proxy battles? And who will pay for that?

I follow the businesses I own and I vote my shares as I see fit for my advantage. That is how it is supposed to work. The stockholders own the business...not the management.

Unless you are VERY rich or investing in pennies, your vote - in isolation - will not make any difference in the management of the company. I'm not sure why having your own voting rights makes one a better investor. Explain?

At first, I bought some index funds to use as my tell tale. Each year I compared my results to the fund's results. The first year I failed to beat the indices. However, I still had lots of the losers the experts had talked me into. I was slowly learning though. The second year I beat the index funds by a small percentage. Since then it has been no contest. Beating the idex funds is a no brainer once you find out what is going on.

Great job! Just curious, are computing returns on a time or dollar weighted basis? And how do you handle index comparisons when there is fluctuating capital in your portfolio?
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