Elon Musk said proxy advisory firms Institutional Shareholders Services and Glass Lewis have too much sway over the stock market.
"Far too much power is concentrated in the hands of 'shareholder services' companies like ISS and Glass Lewis, because so much of the market is passive/index funds, which outsource shareholder voting decisions to them,"He was commenting on an initial tweet from Vivek Ramaswamy, the founder of Strive Asset Management, who said ISS had a"staggering" amount of influence over investors and companies.
Investment, at least I never see them pipe up. It’s because they’ve already disturbed the thing badly enough.
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