3 ms·
This is the study that says Vanguard is one of the most powerful companies in the world for running a bunch of people's 401(k)'s in index funds, right?
by twoodfin 13y ago
This is the study that says Vanguard is one of the most powerful companies in the world for running a bunch of people's 401(k)'s in index funds, right?
- brymaster 13y agoNo, that's not what the study says.
- twoodfin 13y agoWell, they're #8 on the list. What point was trying to be made? The retort is much more relevant: Most of the companies on the top 50 list are simply investment companies – they aren’t operating companies. (The only obvious example is #50 China Petrochemical.) The enormous size of these companies is simply a reflection of the way most people invest in the public markets, through mutual funds, money funds and other vehicles. Disturbing? Nah. Simply a reflection of the way most people invest in the markets. http://www.forbes.com/sites/ericsavitz/2011/10/24/retort-the-147-companies-that-run-the-world-theyre-you/ http://www.forbes.com/sites/ericsavitz/2011/10/24/retort-the...
- brymaster 13y agoI think the point was the interconnectedness and how these firms have large stakes in other large corporations. They don't have to be "operating companies" to be controlling. Real economic power as the article states.