Claude Walker

Woolworth divesting their liquor and gaming stuff is an example of shareholder activism sort of having an impact there.

Yeah, yeah.

I feel like there's a lot of examples of shareholders successfully making the company cease some kind of business they're doing that's not great.

And that's part of the ethical investing ecosystem, right?

Because it's really hard to effectively send market signals to these businesses.

Hey, if you do dodgy stuff, your share price might go lower because people won't buy you, right?

It's harder to send that signal when everything's like a conglomerate, it's all mixed up.

Once you separate out the uglier bits, then that allows the market to express a view on that uglier bit.

And it allows...

the part of ethical investing, which is about what you own or don't own is allowed to play out more effectively.

So, you know, that's part of it.

I don't think, I think generally speaking, shareholder activism for ethical or moral reasons is, you know, often ineffective, but that's true of the approach of I won't own shares in such and such a company as well.

So ethical investing is always something that,

If you zoom in on one single action by one single person, it just looks like they did nothing.

But it works through time and the weight of capital over a long period, basically.

And that's why it's so exciting that younger people are in much higher percentages sending their superannuation to ethical managers.

And that's bringing change to the world.

Yes, and that's definitely one way you can do it.

But I have to say I can understand why it might feel like that for that questioner, but no, an individual questioner

shareholder can make a difference but the way you might do it since you're not a since we're not like a big a single big uh monolith that can you know vote down a rem report what we can do I mean look let's look at how the how the boomers have been doing it right they've got the Australian shareholders association um which is where they get together and like then they have appointed people that they um