They have even created a list of global powerbrokers, the companies that are influential in the most stock markets around the world. Here is the top 10
...
What it suggests is that the stability of the complex networks that make up our economy is hugely dependent on the ongoing survival of just a handful of companies.
I may be missing something, but it sounds like they are alerting us to the dangerously small number of companies you'll find in a top-ten list.
> Now James Glattfelder and Stefano Battiston at the Swiss Federal Institute of Technology in
> Zurich have included these factors in a study of the control and ownership of stockmarkets
> in 48 countries around the world. Their results are startling.
1. The Capital Group Companies
2. Fidelity Management & Research
3. Barclays PLC
4. Franklin Resources
5. AXA
6. JPMorgan Chase & Co
7. Dimensional Fund Advisors
8. Merrill Lynch & Co
9. Wellington Management Company
10. UBS
The article is much more alarmist than I feel like the original PDF intends the data to be. It seems like an obvious conclusion that a few well capitalized brokerage and investment firms would be majority stakeholders across several markets.
I'd be more startled if I saw say "xyz US Government holding company" somewhere on the list. But then I'd have to find my tinfoil hat...
...
They have even created a list of global powerbrokers, the companies that are influential in the most stock markets around the world. Here is the top 10
...
What it suggests is that the stability of the complex networks that make up our economy is hugely dependent on the ongoing survival of just a handful of companies.
I may be missing something, but it sounds like they are alerting us to the dangerously small number of companies you'll find in a top-ten list.