We asked Professor Lawrence A. Cunningham about the stories he's following and the work he's doing in the new year.
1. Shareholder Activism: The Next Generation
This is a subject of ascending importance. I’m especially interested in the activist personalities and target cultures, and in 2015 I commented for a profile of Carl Icahn in the San Jose Mercury News (by Michelle Quinn) and of Nelson Peltz in the Wilmington News Journal (Maureen Milford & Jeff Wordock) as well as the case of DuPont Company on WDEL Radio (Frank Geravce). Expect to see more of the younger generation of activists—even younger than Bill Ackman and with fewer resources—as this approach to governance cements as mainstream. I am directly involved in a few of these efforts, including as a director nominee.
2. Conglomerates: Google the Vanguard
3. Berkshire’s Culture
4. Berkshire Beyond Buffett
5. Greenberg and AIG v. United States
6. Popular Contracts
7. Quality Investing
8. Berkshire Annual Letter and Meeting
9. Berkshire Acquisitions
10. Berkshire’s Blemishes
11. Private Equity
12. Expert Witness Work
Lawrence A. Cunningham is the Henry St. George Tucker III Research Professor of Law. He has recently been nominated as a Director of Ashford Hospitality Prime by a shareholder of the New York Stock Exchange listed company in a proxy contest and elected as a Director of the Editorial Board of the Museum of American Finance.