Trian's investment in Comcast highlights stock underperformance but is unlikely to trigger major changes

Comcast CEO Brian Roberts controls 33% of the Comcast vote and is unlikely to be moved to major action by an activist shareholder.

Comcast shares have underperformed Charter, which is a pure broadband business without content, such as NBCUniversal and Sky.Patrick T. Fallon | Bloomberg | Getty Images Investors like Trian's Nelson Peltz are used to calling the shots and agitating for change. So why would Peltz take a stake inThe answer may be simple: to highlight an undervalued company. Peltz could conceivably be a winner simply by picking a cheap stock.

But, if Trian is just betting on investors to suddenly fall in love with Comcast, initial reactions weren't encouraging. The market shrugged at Trian's announcement that it had acquired a 0.4% in Comcast. Shares were little changed on the announcement and have actually fallen in the days since.Comcast chief executive officer Brian Roberts has a 33% voting share through his family's ownership stake.

Concast.

Makes sense. CNBC is unwatchable now.

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