This isn’t mere conjecture, this has been battled out in many a court case over “shareholder value” ranging from management deciding to not sell the company despite the short term gain for shareholders, to the inverse.

I know, Bill, but you’re engaging in a bit too much specificity, in my opinion, If a CEO says they want to maximize shareholder value, the general investing public understands that he or she is going to deploy free cash in a way that returns value, SOMEHOW, to those sharedholders.

The fact that the “somehow” varies from company to company, and the interest in how the “somehow” is given varies from shareholder to shareholder doesn’t seem to me to invalidate the claim.

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Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.

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