“I think the world of Larry Fink, but I’m not sure I want him to be my emperor.” Charlie Munger, Warren Buffett’s business partner, is concerned about index funds’ power.
Mr. Munger, the billionaire vice chairman of Berkshire Hathaway Inc. and Warren Buffett’ssaid the rise of index funds like those run by Mr.
Fink’s BlackRock Inc. has resulted in an “enormous transfer” of the power to sway corporate decision making. That shift will “change the world,” he said, and not for the better.
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