It was Sports Direct's annual meeting on Wednesday where Mike Ashley faced criticism of his strategy. He owns 62% of Sports Direct shares, but at the meeting nearly a quarter of Sports Direct independent shareholders registered unhappiness with his strategy.
Laura Foll of Janus Henderson Investors told Radio 5 Live's Wake Up To Money that she was surprised there was not a bigger revolt.
But she said: "People that buy Sports Direct know full well what Mike Ashley's doing".
That is essentially buying up other businesses.