In this bonus episode of The Dismal Science, Ivan interviews Jeff Gramm, hedge fund manager and author of Dear Chairman: Boardroom Battles and the Rise of Shareholder Activism.

The book, which was on the AICD's summer reading list, traces the history of shareholder activism through eight famous shareholder letters and touches on many themes relevant to directors, including the relationship between board and management, director independence, the role of proxy advisers and the perils of groupthink.