It's not investors who pursue short term gains at the expense of long term gains, it's management. CEOS/Boards/Top management practice share price manipulation

It's not investors who pursue short term gains at the expense of long term gains, it's management. CEOS/Boards/Top management practice share price manipulation to maximize the value of their own stock options. If you are CEO of a company and you have a big block of options vesting at years end, it's time to announce a buy back program to get the stock to pop, even if it's determinedly to building the long term value of the business. If you want shareholders to act more like owners, allow them to be treated like owners. Currently the SEC's anti-raider rules prevent any shareholders from proposing board slates. Boards are picked by boards, insiders pick insiders. That's the real disconnect here.