Super Mario: A Shareholder Advocate In Word, But Not In Practice

Ted

FYI: (Just ask the late Liz Bramwell about Mario. He once locked her out of her office over a dispute.)
Mario J. Gabelli’s investment firm, Gamco Investors, is another shareholder warrior telling companies to create value through good corporate governance. Yet, what about Gamco’s own governance?
Regards,
Ted
http://www.nytimes.com/2015/05/27/business/dealbook/a-shareholder-advocate-in-word-but-not-in-practice.html?ref=business&_r=0

Source: Reference For Business.Com:
Founded in 1987, Gabelli Growth Fund was first managed by Elizabeth Bramwell, an analyst Gabelli met at Columbia during their student days. Gabelli Growth Fund achieved an annualized return of about 40 percent in 1988 and 1989, better than her boss's own performance. She resigned in 1994 after finding herself locked out of her office for refusing to move from Manhattan to suburban Rye, New York, where corporate headquarters had been established two years earlier. Bramwell said the performance of her fund had slipped vis-à-vis Gabelli's own results partly because she was not being allotted the staff she needed as the fund grew in size. She won $850,000 from Gabelli in an arbitration award regarding compensation allegedly due her.

jerry

None of this would bother me much but Gabelli Asset, managed by Gabelli, has underperformed in recent years AND perhaps the cause of underperformance has a VERY high expense ratio

Mark

What!? I'm shocked! Not! The man has been a colossal DB forever but he sure knows how to rake in the fees.