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We Study Billionaires - The Investor’s Podcast Network

TIP153: Corporate Raiders and Boardroom Battles w/ Jeff Gramm Author of Dear Chairman (Business Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.63.6K Ratings

🗓️ 26 August 2017

⏱️ 41 minutes

🧾️ Download transcript

Summary

Since public markets have existed, there have been occurrences where new and existing owners fight for control of the business. In many cases, these boardroom disputes are resolved with marginal friction. But, sometimes these corporate raiders and take-overs result in dramatic stories and intense learning experiences. Today, we have an incredible guest on the show and his name is Jeff Gramm. Jeff owns his own hedge fund and is also an adjunct professor a Columbia Business School, where he teaches Benjamin Gramm and Buffett Style value investing. Jeff is the author of the book, Dear Chairman, which is an incredible account of some of this biggest boardroom battles that have happened in America. He profiles, boardroom battles from investors like Benjamin Graham, Buffett, Ross Perot, Carl Icahn and many other. In the middle of the interview we ask Jeff about an interesting story that happened to him where Warren Buffett mailed him a signed copy of his own book and let him know how much he enjoyed reading.    


In this episode, you'll learn:

  • Why the management often doesn’t represent the shareholder’s interest
  • How billionaire investors like Warren Buffett practice shareholders activism
  • What retail investors can do if they’re not satisfied with the management
  • How concentrated your stock portfolio should be

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Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP.

0:02.6

Since public markets have existed,

0:04.6

there have been occurrences where new and existing owners

0:07.5

fight for control of the business.

0:09.6

In many cases, these boardroom disputes

0:11.8

are resolved with marginal friction.

0:13.8

But sometimes, these corporate raiders

0:16.0

and takeovers result in dramatic changes

0:18.6

and intense learning experiences.

0:20.9

Today, we have an incredible guest on the show

0:23.2

and his name is Jeff Graham.

0:25.0

Jeff owns his own hedge fund

0:26.6

and is also an adjunct professor at Columbia Business School

0:29.3

where he teaches Benjamin Graham

0:31.0

and Buffett style value investing.

0:33.2

Jeff is the author of the book Dear Chairman,

0:35.6

which is an incredible account of some

0:37.3

of the biggest boardroom disputes and battles

0:39.4

that have happened in America.

0:40.9

He profiles boardroom battles from investors

0:43.5

like Benjamin Graham, Buffett, Ross Perot,

0:46.3

Carl Icon and many others.

...

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