Which form of financial engineering would you ban, and why stock buybacks?
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And anyway, the most provocative endpoint of this theory is that we should ban index funds because they are an antitrust issue. It's such a funny theory/hot take that it's kind of become a finance meme,
@matt_levine writes about it on practically a weekly basis in money stuff
Here's a classic example: https://www.bloomberg.com/opinion/articles/2019-11-12/if-you-own-everything-why-merge …
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All that being said though, I don't actually think we should ban index funds. I *do* however think it's a really bad thing that index fund managers are very regularly talking to corporate CEOs, because it's easy to imagine that being a mechanism for reducing competition
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