- Narrated by: Steve Menasche
- Length: 7 hrs and 13 mins
- Release date: 07-13-21
Talent, Strategy, Risk AudioBook Summary
A playbook for long-term value creation
Balancing the short term and the long term is a perennial struggle, but new developments put boards squarely at the center of this dilemma and in need of guidance. Much of the $14 trillion of assets that firms like Vanguard, BlackRock, and State Street manage is now held in index funds, creating a huge class of permanent institutional investors. These so-called passive investors (unlike activist investors, passive investors don’t have power to exit the fund) own almost 60 percent of the Fortune 500 – and they have found their voice. Perhaps best exemplified by BlackRock’s Larry Fink, these investors are stating in no uncertain terms that simply managing for short-term shareholder profit is not acceptable.