Thanks for asking for clarification—I’m sorry I think I’ve been unclear about the mechanism. It’s not really about shareholder activism, this is just an extra.
I’ve now added a few graphs and a spreadsheet as a toy model of why mission hedging beats a strategy that maximizes financial returns in the introduction. Can you take a look and see whether it’s more clear now? Or maybe I’m missing your question.
Thanks for asking for clarification—I’m sorry I think I’ve been unclear about the mechanism. It’s not really about shareholder activism, this is just an extra.
I’ve now added a few graphs and a spreadsheet as a toy model of why mission hedging beats a strategy that maximizes financial returns in the introduction. Can you take a look and see whether it’s more clear now? Or maybe I’m missing your question.