Ann: Bell Potter Emerging Leaders Conference Presentation, page-15

Good observation.

Working inside some successful public companies I came to realise how important it is to curate your shareholders. It makes a huge difference when things are going a bit pear-shaped to have shareholders that understand your business and strategy. One of the important roles of the CEO is to attract those sort of shareholders to the register as they not only don't sell when the price is down but also buy when value is presented.

When I'm researching a new company one of the things I do is look at what sort of shareholders are posting on the company's thread on this very site. If there is a large contingent of shareholders talking endlessly about the share price it's a pretty reliable indicator that the CEO is courting the wrong crowd. My empirical observation is the quality of company has an inverse relationship with the noisiness of shareholders within these pages.