Charles Munger: We Have A New Bunch Of Emperors That Are Going To Change The World

Johnny HopkinsCharles MungerLeave a Comment

In his latest Daily Journal Annual Meeting, Charles Munger discusses the new bunch of emperors that are going to change the world. Here’s an excerpt from the meeting:

Munger: Oh Huge! That’s another thing that’s coming.

We have a new bunch of emperors, and they’re the people who vote the shares in the index funds. Maybe we could make Larry Fink and the people of 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 going to be, but I predict they will not be good.

I think the world of Larry Fink, but I’m not sure I want him to be my emperor (laughs).

You can watch the entire discussion here:

 

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