Dear Chairman by Jeff Gramm audiobook

Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism

By Jeff Gramm
Read by David Drummond

HarperCollins, HarperAudio 9780062369833
10.23 Hours Unabridged
Format: Digital Download (In Stock)
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    ISBN: 9780062445049

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    ISBN: 9781504695671

A sharp and illuminating history of one of capitalism’s longest running tensions—the conflicts of interest among public company directors, managers, and shareholders—told through entertaining case studies and original letters from some of our most legendary and controversial investors and activists. Recent disputes between shareholders and major corporations, including Apple and DuPont, have made headlines. But the struggle between management and those who own stock has been going on for nearly a century. Mixing never-before-published and rare, original letters from Wall Street icons—including Benjamin Graham, Warren Buffett, Ross Perot, Carl Icahn, and Daniel Loeb—with masterful scholarship and professional insight, Dear Chairman traces the rise in shareholder activism from the 1920s to today, and provides an invaluable and unprecedented perspective on what it means to be a public company, including how they work and who is really in control. Jeff Gramm analyzes different eras and pivotal boardroom battles from the last century to understand the factors that have caused shareholders and management to collide. Throughout, he uses the letters to show how investors interact with directors and managers, how they think about their target companies, and how they plan to profit. Each is a fascinating example of capitalism at work told through the voices of its most colorful, influential participants. A hedge fund manager and an adjunct professor at Columbia Business School, Gramm has spent as much time evaluating CEOs and directors as he has trying to understand and value businesses. He has seen public companies that are poorly run, and some that willfully disenfranchise their shareholders. While he pays tribute to the ingenuity of public company investors, Gramm also exposes examples of shareholder activism at its very worst, when hedge funds engineer stealthy land-grabs at the expense of a company’s long term prospects. Ultimately, he provides a thorough, much-needed understanding of the public company/shareholder relationship for investors, managers, and everyone concerned with the future of capitalism.

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Summary

Summary

A Financial Times Pick for 2016 Summer Reading Lists

A sharp and illuminating history of one of capitalism’s longest running tensions—the conflicts of interest among public company directors, managers, and shareholders—told through entertaining case studies and original letters from some of our most legendary and controversial investors and activists.

Recent disputes between shareholders and major corporations, including Apple and DuPont, have made headlines. But the struggle between management and those who own stock has been going on for nearly a century. Mixing never-before-published and rare, original letters from Wall Street icons—including Benjamin Graham, Warren Buffett, Ross Perot, Carl Icahn, and Daniel Loeb—with masterful scholarship and professional insight, Dear Chairman traces the rise in shareholder activism from the 1920s to today, and provides an invaluable and unprecedented perspective on what it means to be a public company, including how they work and who is really in control.

Jeff Gramm analyzes different eras and pivotal boardroom battles from the last century to understand the factors that have caused shareholders and management to collide. Throughout, he uses the letters to show how investors interact with directors and managers, how they think about their target companies, and how they plan to profit. Each is a fascinating example of capitalism at work told through the voices of its most colorful, influential participants.

A hedge fund manager and an adjunct professor at Columbia Business School, Gramm has spent as much time evaluating CEOs and directors as he has trying to understand and value businesses. He has seen public companies that are poorly run, and some that willfully disenfranchise their shareholders. While he pays tribute to the ingenuity of public company investors, Gramm also exposes examples of shareholder activism at its very worst, when hedge funds engineer stealthy land-grabs at the expense of a company’s long term prospects. Ultimately, he provides a thorough, much-needed understanding of the public company/shareholder relationship for investors, managers, and everyone concerned with the future of capitalism.

Editorial Reviews

Editorial Reviews

“An illuminating read for those wondering what drives activists…with lucid observations on investors and corporations.” Wall Street Journal
“A lively account of a long war against corporate and investor smugness.” Financial Times
“An engaging and informative book…Eight investor’s letters that sum up some of the great agency-problem battles in the history of American business. It is a valuable set of stories.” New Yorker
“An excellent read…Gramm has collected a series of deliciously rich letters, many of which were never before published, sent to chief executives by investors by everyone from Warren Buffett to Ross Perot.” New York Times
“Illuminating and often wildly entertaining.” Huffington Post
“The story of the rise of shareholder activism has never been told as compellingly and instructively as Jeff Gramm offers it in Dear Chairman, a book that dissects the dramatic deals and brings to life the unbelievable characters of the past hundred years.” Arthur Levitt, former chairman, US Securities and Exchange Commission
“Gramm’s findings will intrigue and inform history buffs and activist shareholders alike.” Publishers Weekly
“Narrator David Drummond’s phrasing and diction make everything clear, and his tone is rich and masculine.” AudioFile

Reviews

Reviews

Author

Author Bio: Jeff Gramm

Author Bio: Jeff Gramm

Jeff Gramm runs a value-oriented hedge fund and teaches investing at Columbia Business School.

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Details

Details

Available Formats : Digital Download, CD
Category: Nonfiction/Business & Economics
Runtime: 10.23
Audience: Adult
Language: English