Paul Singer, founder and co-CEO of Elliott Management Corp, has published an interesting article in praise of shareholder activism on The Wall Street Journal. Singer maintains that the debate on "the appropriate balance of power between public corporations and their shareholders" has been "badly skewed by a false narrative". Anti-activist advisers have attempted to drive a wedge between activist investors and index funds by suggesting that activists are interested only in short-term gains at the expense of long-term value. This divisive framing is objectively false and has done harm to the goal of generating sustainable returns for all investors.Explains Singer:For starters, all of a company's
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