[hidenotslide]

This person gets paid 1 million dollars per year for twenty days of not-rocking-the-boat. It's not their money and the only way they get fired is by asking questions like that.

Why investors put up with it is a better question. I think the implicit antitrust of index funds has something to do with it, few investors want more competition. https://www.theatlantic.com/magazine/archive/2017/09/are-ind...