Shareholder value was dismissed as a fad and a fraud.

Rather, considerable attention should be given to their independence from the controlling shareholder.

As the stock markets tumbled in September 2008, the fund was able to buy more shares at low prices.

Or try to offer warrants that is, essentially options on buying stock based on sales success.

In widely held firms, the concern is about opportunism by managers, who exercise de facto control in controlled firms, the concern is about opportunism by the controlling shareholder at the expense of minority shareholders.

MUNICH Once upon a time, stocks were risky and collateralized securities were safe.

In controlled firms, where the concern is diversion from minority shareholders, making directors even more responsive to the controller will likely make minority investors still more vulnerable.

Pregnant.

Pregnant? Pregnant?!

Pregnant!

Pregnant.

Taxpayers money was spent to purchase corporate stocks in a failed attempt to support collapsing stock prices.

Similarly, investors flock to stocks that have appreciated, because they have momentum.

In choosing the default option, the government or the employer nudges all employees into prevailing fads such as buy equity for the long run.

Babysitting, yard sale, walk dogs, and you'll see I get to number 12, buy stocks, and I stop.

I am pregnant.

I'm pregnant.

You're not pregnant.

Sharon's pregnant.

Mariam is pregnant.

Load Carrier.

I'm pregnant?

A very pregnant young woman.

Sandra's expecting.

You pregnant!

Duplex Option Option

Microphones with stand

She's pregnant and a widow.

You are pregnant?

Are you with child?

Madam, you're pregnant.

I think I'm expecting

That girl's got life in her, all right.

I'm pregnant, Michel.

And if you're pregnant?

Arrows

Shares

This option corresponds to the N diff option.

This option corresponds to the I diff option.

This option corresponds to the t diff option.

This option corresponds to the B diff option.

This option corresponds to the b diff option.

This option corresponds to the w diff option.

This option corresponds to the E diff option.

Finally, when assessing controlled companies, the independence of directors should not be judged largely by looking at the extent to which they are independent of the company on whose board they serve. Rather, considerable attention should be given to their independence from the controlling shareholder.