Largest shareholders include BlackRock Inc., Vanguard Group Inc, Pentwater Capital Management LP, Pentwater Capital Management LP, Dimensional Fund Advisors Lp, State Street Corp, HAP Trading, LLC, Bluefin Capital Management, Llc, IJH - iShares Core S&P Mid-Cap ETF, and VTSMX - Vanguard Total Stock Market Index Fund
Notice the mutual funds in here? That person is right.
grue@lemmy.world 2 months ago
…Are you stupid? Do you know what things like Blackrock and Vanguard are, and what they do? The entire point of those companies is that they hold and invest other people’s money.
just_another_person@lemmy.world 2 months ago
Yes, they have more money than small nations. They are using their CAPITAL to invest. It’s literally a legal requirement to do so in all developed markets, and these are global companies doing so. They are spending your retirement doing it. They’re spending thebinsane amount of money you give them as a fee to do it. They’d be in court today if they were doing what you’re suggesting. In the US, anything designated as a retirement fund is only held my institutions (banks) that designate themselves as such, and SEC regulations prevent them from using any NON-CAPITAL cash from investing in this way.
grue@lemmy.world 2 months ago
You don’t have a goddamned clue what you’re talking about. We’re not talking about banks illegally investing people’s savings accounts; we’re talking about non-banks investing people’s retirement accounts that they’ve specifically been advised are not FDIC insured and can lose money. You’re confusing two very different things.
The bottom line is that it very much IS REGULAR PEOPLE’S MONEY that they’re using, NOT THEIR OWN MONEY! The fund managers themselves have no skin in the game. The owners of Blackrock itself (holders of individual shares in Blackrock, not Blackrock-administered mutual funds) have no skin in the game. The owners of Vanguard only have skin in the game because it’s got a weird corporate structure where it’s owned by its funds, but even then the money that Vanguard is investing didn’t come from Vanguard’s revenue; it’s all money that they’re handling on behalf of clients (i.e. regular people) who own shares in Vangaurd-administered mutual funds. It’s those clients who gain or lose money depending on the funds’ performance, not Vanguard or Blackrock – the fund companies just get revenue by charging fees (i.e. the expense ratio, etc.).
just_another_person@lemmy.world 2 months ago
Sorry to say after you wrote all that, but you’re describing malfeasance from a FUND HOLDER. Last I checked, the companies you describe are fund targets, not holders. You should get in touch with the people investing your money then, because none of these X shareholders are administrators of funds.