About once a month, a PM calls us about some portfolio company, wanting to talk about the prospects for an activist project. We review the financials and the filings. Often we suggest the shareholder just move on - the business isn't worth trying to turn around, or the board and management are too entrenched. Sometimes we suggest a plan. Once in awhile we move ahead with it.

Occasionally, and more often after we suggest moving on, the PM wants to write a strongly-worded letter to the BoD chair and the CEO. Confidence about the investment thesis and frustration about the current results and share price yields a long, detailed, and lively manifesto, an "open letter" to the board, management, and other shareholders.

You can find other useful resources at the TAI website, including our research on "Effective Activism", our new resource guides on attorneys for activist investors and on activist investing data sources, our white paper with the basics on activist investing, and our new guides on exempt solicitation, consent solicitation, and special shareholder meetings.