Billionaire Investor Charlie Munger: Maybe We Can Make Larry Fink And The People At Vanguard Pope

1 year ago
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Reporter: "What impact has passive investing had on stock valuations?"

Charlie Munger: "That’s another thing that’s coming. We have a new bunch of emperors. They’re the people who vote the shares in the index funds. Maybe we can make Larry Fink and the people at Vanguard Pope."

"All of a sudden, we’ve had this enormous transfer of voting power to these passive index funds. That is going to change the world. I don’t know what the consequences are gonna be, but I predict it will not be good. I think the world of Larry Fink, but I’m not sure I want him to be my emperor."

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