This book I'm reading discusses the ill-effects of stock ownership by huge hedge funds. The authors call it grey capitalism where nameless, faceless money manag

This book I'm reading discusses the ill-effects of stock ownership by huge hedge funds. The authors call it grey capitalism where nameless, faceless money managers deploy huge swaths of capital to own companies but don't actually participate in their running. It's hurting innovation because now the company is beholden to these owners who never show up or look at the big picture. Their window of caring about the company is a quarter to a year at best which is reset after every earnings call.