"Currently, an investor who owns one share for a month, or even a day, has the same voting power as someone who has owned a share for years. Mr. Ries wants what

"Currently, an investor who owns one share for a month, or even a day, has the same voting power as someone who has owned a share for years. Mr. Ries wants what he calls “tourists” — short-term shareholders — to have less voting power than long-term shareholders, whom he calls “citizens of the republic.” Over time, shareholders of companies on the LTSE would gain more votes based on their length of ownership." This is really a poorly thought out idea that's hugely counter-productive. You own your shares for 10 years and have mucho voting rights, but need to sell them. Now you have to sell them to someone who will get virtually no voting rights at the time of purchase. So all this does is make your shares way less valuable. It will end up creating "phantom sale" markets where you continue to serve as the shareholder of record, but agree to vote your mucho votes the way the purchaser wants you to. The real problem isn't short term holders. The real problem is that shareholders aren't owners. The SEC won't let shareholders pick the boards of their own companies. Companies are owned by their managers now, and they are the short term thinkers using their incentive stock options to drive their decisions.