Strive CEO Matt Cole discusses the problems with European-style stakeholder capitalism, why the American corporate model outperforms for investors and pushback against woke policies.
Corporate America has increasingly been influenced by left-wing political movements, ESG-focused investing, DEI practices and stakeholder capitalism, all of which are costing Americans money, Matt Cole, CEO of Columbus, Ohio-based Strive Asset Management argues. The firm, originally founded by entrepreneur and former presidential candidate Vivek Ramaswamy, has about $1.6 billion in assets under management.
There's a need for an asset management company, and really a financial services company like Strive, because ESG, DEI and other non-financial interests have been pushed into corporate America at the expense of the everyday investor. So, people buy ETFs, they buy mutual funds, they entrust their money with the wealth manager. And unbeknownst to them, a social and political agenda is being pushed into corporate America with their money," he warned.
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