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A comment on Study Says World's Stocks Controlled by Select Few. Parent comment

Re:Study Says World's Stocks Controlled by Select Few by nandemo on Saturday August 29, 2009 @11:28PM (#794017)
> Control or power doesn't disappear, any more than mass-energy does - if Vanguard or Fidelity aren't controlling the billions in index funds, then who is?

The investors who own shares in the mutual funds?

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Re:Study Says World's Stocks Controlled by Select Few by gwern on Sunday August 30, 2009 @04:18AM (#794238)
Mutual fund investors no more affect the decision of the fund managers - and certainly not the indices' management - than does a random voter in even a swing state.
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Re:Study Says World's Stocks Controlled by Select Few by gaius on Sunday August 30, 2009 @03:38AM (#794215)
Exactly. A fund is in a very real sense a democracy. You 'vote' for a fund manager's decisions by investing and vote against by withdrawing.
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