Passive has gone too far.” REUTERS Elon Musk and Cathie Wood argued passive index funds are a “major problem” and “misallocation of capital.” Elon Musk said in a tweet, “There should be a shift back towards active investment. But Wood also noted passive investors miss out on some high-growth stocks. The two heavyweights chimed in after famed venture capital Marc Andreessen noted top financial figures like BlackRock chief Larry Fink have an outsized say in American corporations when it comes to pushing agendas like ESG. “In my view, history will deem the accelerated shift toward passive funds during the last 20 years as a massive misallocation of capital,” CEO of ARK Invest Cathie Wood added. “Decisions are being made on behalf of actual shareholders that are contrary to their interests! Major problem with index/passive funds,” the Tesla chief wrote in a tweet Wednesday.
#JIM FINK INVEST FREE#
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