I'm ignorant of hedge funds, so can't comment. I have read many laments from institutional investors about being screwed; they're the shareholders I'm thinking of (eg my county's investment manager, the team managing my 401k).

I'm aware of the "low information voter" problem. And yet I'm a pollyanna. I believe (as a matter of faith) that high quality information leads to high quality decisions.

Given the choice between corporate rule (oligarchy) and mob rule, I guess I'd side with the mob.