In the United States, brokers holding stock for customers on the New
York Stock Exchange follow a stock exchange of voting these shares
for directors as proposed by the management. This is not allowed in
80% of the shares of public companies are held by brokerage firms for
their customers. When these investors do not tell the firm how to vote
their shares, 25% of these shares are voted by the brokerage firm as
the board or management recommend.
“Investors” are in reality “speculators”.
Short term trading is speculation;
Long term purchases are investments.