Do shareholder proxy firms have too much power?

Few of us own as many shares as Warren Buffett, who recently announced he would retire at year’s end. Nevertheless, America is still a nation of investors who own stocks and bonds, real estate, collectibles, and other assets that grow in value over time, adding to our wealth if we’re smart and lucky. Behind all that is a network of asset management firms, financial advisors, brokers, and othe...

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