On Tuesday the 8th October, we had a long lecture starting with Åsa and ending with Serdar. We practiced negotiation with Åsa and I think that was really excellent lecture and I truly learned something useful and I really enjoyed it. I knew in theory the importance of bargain power and which principles I need to use to successfully negotiate – but knowing it is not enough. Then, at Serdar’s lecture, we had a lot of miscellaneous things. For example, we agreed on which date to have our examination for the legal module.

And another interesting thing from Serdar’s lecture is that I learned why people choose Common Stock instead of Preferred Stock when the latter gives higher rate of financial return: if the investor thinks the management team is stupid and that the company will crash without the investors’ advice, and if the company is otherwise very potent, then the investor can intervene by buying common stock (at the expense of somewhat reduced nominal rate of return) to get access to the management board of the company to intervene in the the company’s self-destructive foolishness. I guess the investors we will meet tomorrow on Thursday are indirectly trying to say that we’re incompetent, because they will talk only common stocks rather than preferred stocks.

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