How to Think Like Benjamin Graham and Invest Like Warren Buffett

Notes 253

Lessons for Corporate America(The Cunningham Group, 1997), 147.

4.For additional analysis and sources, consult Lawrence A. Cunningham, “Com-

monalities and Prescriptions in the Vertical Dimension of Global Corporate

Governance,”Cornell Law Review, vol. 84 (1999), on which this and the fol-

lowing chapters draw.

5.Graham,Intelligent Investor, 270.

6.AMP, Inc. v. Allied-Signal, Inc., 1998 US District LEXIS 15617 (Federal Eastern

District of Pennsylvania, October 8, 1998), reversed on other grounds by the

Federal Third Circuit Court of Appeals, 168 Federal Reporter 3d 649 (January

20, 1999).

7.Buffett and Cunningham,Essays,47.

Chapter 12

1.Warren E. Buffett and Lawrence A. Cunningham,The Essays of Warren Buffett:
Lessons for Corporate America(The Cunningham Group, 1997), 138.
2.Ibid., 86–87, 96.
3.Roberta Romano, “Corporate Law and Corporate Governance,”Industrial and
Corporate Change, vol. 5 (1996); Sanjai Bhagat and Bernard Black, “The Un-
certain Relationship between Board Composition and Firm Performance,”Busi-
ness Lawyer, vol. 54 (1999).
4.Buffett and Cunningham,Essays, 40.
5.James A. Brickley, Jeffrey L. Coles, and Gregg Jarrell, “Leadership Structure:
Separating the CEO and Chairman of the Board,”Journal of CorporateFinance,
vol. 3 (1997).
6.Ira M. Millstein and Paul W. MacAvoy, “The Active Board of Directors and
Performance of the Large Publicly Traded Corporation,”Columbia University
Law Review, vol. 98 (1998).
7.Buffett and Cunningham,Essays, 47–54.
8.Investors Responsibility Research Center (press release), “Investors, CEOs,
Split on Best Governance Practices for Dot-Com Companies,” January 26,
2000.
9.SEC Rule 14a-8 under the Federal Securities Exchange Act of 1934.
10.Benjamin Graham,The Memoirs of the Dean of Wall Street(McGraw-Hill, 1996;
posthumous publication, Seymour Chatman, ed.), 201–212. The company was
Northern Pipeline, and the year was 1928 (Graham was 34 years old). Ibid.,
320.
11.Benjamin Graham,The Intelligent Investor(1st ed. 1949; 4th rev. ed. Harper
and Row, 1973), 270.

Chapter 13

1.Joseph Kahn, “AMP Rejects Allied Signal’s Takeover Bid of $10 Billion,”The

New York Times, August 22, 1998.