![](https://i0.wp.com/shacklemedia.com/wp-content/uploads/2022/02/calling-out-emperor-larry-fink.jpg?w=640&ssl=1)
When you’re 98 years old you can say things others can’t, so bravo to Charlie Munger for daring to speak an important but too muffled truth about today’s financial markets. “We have a new bunch of emperors, and they’re the people who vote the shares in the index funds,” Warren Buffett’s Berkshire Hathaway partner said Wednesday. “I think the world of Larry Fink, but I’m not sure I want him to be my emperor.” Many CEOs no doubt privately agree.
As Americans have poured savings into exchange-traded and mutual funds, index providers have become the de facto largest shareholders of public companies. Assets under management by Mr. Fink’s company, BlackRock , have doubled to $10 trillion since 2016.
Source: finance.yahoo.com
Related posts:
While under US sanctions, where did Huawei get the advanced chips for its latest Mate 60 Pro smartph...
Rooftops for rent: Property owners should partner with 5G carriers
Nvidia Stock Got Two Price Target Hikes. The Market Shrugged.
2 Artificial Intelligence (AI) Stocks With More Upside Than Nvidia to Buy Now, According to Wall Str...
‘The stress is killing me’: I’m 73 and crumbling under $200,000 in debt — and I have no savings. Can...