Part 7/11:
Harvard professor John Coates notes this dilemma in his book, "The Problem of 12," capturing how pension funds, which indirectly represent ordinary citizens, align their capital investments without individuals truly recognizing how their earnings are being utilized. With significant investments funneled through a few massive index funds like Vanguard, BlackRock, and State Street, the vital price discovery mechanism falters, distorting fundamental market dynamics.