The World’s Dumbest Idea
Montier explores the problems that surround the concept of shareholder value and its maximization.
By James Montier | Posted: 12-18-14 | 03:48 PM | Email Article
"To see how this is related to the rising inequality that we have seen it is only necessary to understand who benefits from a rising stock market (i.e., who gets the “benefits” of SVM and its buyback frenzy). The identity of this group is revealed in Exhibit 15. The top 1% own nearly 40% of the stock market, and the top 10% own 80% of the stock market. These are the beneficiaries of SVM."
Wanta understand the stock market and who it benefits? read this one: at Morningstar Cover story under Montier
