A strategic thinker, financial writer, and staff mentor in elite ...More research unit at leading American university, Steven is an accomplished front-line research director providing direct support to multi-billion dollar programs and capital campaigns.
He has successfully engaged in shareowner activism in Japan, securing significant dividend increases and exchanging value enhancing ideas with board directors. His activism in the U.S. has been more focused on protecting shareowners' rights and has largely been in association with the nonprofit United States Proxy Exchange.
Independently he has worked to secure a proposal on General Electric's proxy to ask the board to reconsider dividend policy to include payment of special dividends. GE has a poor track record of excess capital allocation to share repurchases. These have not only destroyed value but have materially impacted its shareowners' (including company retirees') dividend income.
Steven has appeared in The Economist, Fortune, and Barron's. He is a longtime contributor to Seeking Alpha; he launched its Japanese stock and investment page early in SA's history, and he also was part of the founding team behind Market Currents and Wall Street Breakfast. His shareowner activism work has been featured at Moxy Vote, where he is a proxy advocate.
Follow Steven on Twitter (@ActiveInvesting). Visit his website at http://steventowns.com
- Description: Independent / boutique research firm analyst. Trading frequency: Monthly
- Interests: Dividend stock ideas & income, ETFs, Foreign stocks, Options, Stocks - long, Stocks - short
Brief overview of value investing (helpful to those less familiar; hearing its merits is never redundant to practitioners); Challenge the conventional wisdom of Japan being on its last leg, a kind way of ...More
Meticulously researched, Investing in Japan has 140 footnotes from English and Japanese sources. Description from the back cover: There is no stock market as undervalued and as misunderstood as Japan. "Investing in Japan" is truly unique in that it fills the void of information in English about Japanese stocks, and contrary to popular Japan-is-doomed opinion, it presents plenty of reasons to be bullish. Readers will develop a solid understanding of the Japanese stock market, and learn why returns on equity appear to be low, about hedge funds' investment activities, Japan's surprisingly strong shareholder rights, and more. "Investing in Japan" will equip investors with invaluable information that will allow them to participate in what is likely to be a once-in-a-lifetime opportunity. It is very rare indeed that almost an entire market can trade at a discount to net asset value, have simple and sound balance sheets, and positive earnings.
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