BlackRock, Vanguard, and State Street: Do They Really Own the Market?
About this episode
Ryan discusses the role of major asset managers like BlackRock, Vanguard, and State Street, clarifying their influence and ownership in the market.
BlackRock, Vanguard, and State Street manage trillions of dollars, but they do not own the market. Ryan explains what asset managers actually are: intermediaries who run funds on behalf of investors. When you put money into a Vanguard index fund, Vanguard holds the underlying shares in trust for you. They charge a fee to do it; they do not own what is inside the fund. The more legitimate concern Ryan raises is not ownership but influence. Because these firms hold voting rights on behalf of m...
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