Welcome to Animal Spirits, a show about markets, life, and investing.

Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching.

Michael Batnick and Ben Carlson work for Ritholz Wealth Management.

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions

and do not reflect the opinion of Ritholz wealth management.

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for informational purposes only and should not be relied upon for

investment decisions.

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discussed in this podcast. Welcome to Animal spirits of Michael and Ben.

Michael, people are worried about index funds.

Take number 686.

Okay.

I saw a couple pieces about this but the one that I picked out was from the Financial Times

They are worried that Vanguard and Black Rock are getting too big and the big worry these days is that index funds are not going

to be stewards of capital when it comes to governance.

Were there three this week there was I didn't even see this one from the FT.

I saw the one from Bloomberg and I saw the one for the Wall Street Journal.

I guess this is just the point in the bull market that we're at where people are worried

that index funds aren't going to protect shareholders through their proxy votes.

I get what they're saying here because they're saying that passive investing is getting

too big and they're worried that they're not going to vote in the

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