Voted off the Island
While I will tend to stay in the healthcare / biotechnology sector with my CAPS port and blog, general investing topics will get commentary from time to time as well. Can't be helped really.
Since I voted a proxy today for one of the out-of-sector companies I own I thought I would relate a voting habit I have developed. One of the directors needs to go! Sometimes more, but always at least one. Every proxy vote is for me like the end of a survivor episode.
Why do this? My meager stakes in the companies I own won't actually send the guy home. No CBS early show or Letterman appearances describing his time on the board and disappointment that he (generally, it is a he) didn't get to stay longer (or collect the $$). The reason is that by having this policy, it makes me look over at least the paragraph of experience (and sometimes more) each of these board members brings to the table and question whether it is relevant. Often there is someone who you just have to wonder what the heck purpose they serve.
A functional board is absolutely key to a companies success. This is especially true in specialty areas like biotechnology.
My 2 cents