4 ms·
Money can be a proxy of power, and you're right about all of this, however money alone already isn't the entirety of it. Money managers tend to have far more po
by zjaffee 4y ago
Money can be a proxy of power, and you're right about all of this, however money alone already isn't the entirety of it. Money managers tend to have far more power than many of the otherwise richest people in our society. Society tried to deal with this in the past by the dismantling of the JP Morgan trust, but since then it seems almost as if Vanguard group and Blackrock have essentially just taken over that same exact role.
- HWR_14 4y agoI thought Vanguard saved money by outsourcing all decision making and power to the people who chose the stocks on the S&P 500 and the market which they use to weight every stock in their funds.