> i’m not asking about the executives or the board. Since the executives and the board decide what a company does, it's absurd to ignore them. I get that you

> i’m not asking about the executives or the board. Since the executives and the board decide what a company does, it's absurd to ignore them. I get that you have a model of companies that isn't consistent with how companies behave. That mismatch tells you that your model is wrong. It isn't reality's job to explain itself in terms that you choose. Your model doesn't account for all relevant facts, such as the interests of stock-holders.