CT, I do urge you to consider Warren Burret's "Wide Moat"...

CT,
I do urge you to consider Warren Burret's "Wide Moat" concept.
http://www.investopedia.com/terms/w/wide-economic-moat.asp

There are other ways for a CEO to defend the company...
one technique is to have a cross-shareholding

One example is "JardineMatheson" and JardineStrategic" in Singapore
****************.sg/2014/06/09/key-...ardine-strategic-that-investors-have-to-know/

A similar extra "Moat strategy" is Brickworks and Soul-Pattinson. They successfully fought off, and sent the corporate plunderer back to the loser's corner.
http://www.smh.com.au/business/mark...st-soul-patts-brickworks-20170710-gx85re.html

If Perpetual had been successful, both Brickworks and maybe Soul-Pattinson would get broken up (and I would loose my dividend streams)

I am prepared to accept "slightly Less for a Longer time " rather than "More for a Shorter time".

I do look for prudent Management!
between Woolworths and Wesfarmers, Wesfarmers is the better bet...
Reason:
Woolworths tried diversifying into electronics ("Dick Smith") and f**ked it up.
Woolworths tried diversifying into hardware ("Masters") and f**ked it up.
Woolworths needs a second income stream (and I don't know where they are going to get it).

Conclusion:
I am a shareholder and am the OWNER!!
I want my CEO managing the Company, not fighting of Corporate Raider thieves like Elliot