Our Lives in Their Portfolios, Brett Christophers
Our Lives in Their Portfolios, Brett Christophers
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Our Lives in Their Portfolios
Why Asset Managers Own the World

Author: Brett Christophers

Narrator: Mike Cooper

Unabridged: 10 hr 21 min

Format: Digital Audiobook Download

Publisher: Tantor Media

Published: 12/26/2023


Synopsis

Banks have taken a backseat since the global financial crisis over a decade ago. Today, our new financial masters are asset managers, like Blackstone and BlackRock. And they don’t just own financial assets.

The roads we drive on; the pipes that supply our drinking water; the farmland that provides our food; energy systems for electricity and heat; hospitals, schools, and the homes in which many of us live—all now swell asset managers' bulging investment portfolios.

As the owners of more and more of the basic building blocks of everyday life, asset managers shape the lives of each and every one of us in profound and disturbing ways. In this eye-opening follow-up to Rentier Capitalism, Brett Christophers peels back the veil on "asset manager society."

Asset managers are unlike traditional owners of housing and other essential infrastructure. Buying and selling these life-supporting assets at a dizzying pace, the crux of their business model is not long-term investment and careful custodianship but making quick profits for themselves.

In asset manager society, the natural and built environments that sustain us become one more vehicle for siphoning money from the many to the few.

About Brett Christophers

A professor at Uppsala University in Sweden, Brett Christophers is the author of Rentier Capitalism and of The New Enclosure, which won the Isaac and Tamara Deutscher Memorial Prize.


Reviews

Goodreads review by Ceasar on June 18, 2023

I learned so much reading this book. It really unlocked a lot of the reasoning behind why so many things seem to not work in the US anymore.......more

Goodreads review by Victor on January 06, 2024

A critical look at the aspects of asset manager society that we must all suffer under due to the further consolidation of wealth into the hands of a few individuals. Stacked with numbers and a deep understanding of the subject material it provides a clear cartography of how the rich continue to get......more

Goodreads review by David on June 10, 2023

Number-heavy but well done thesis. My assumption was that "asset managers" was going to refer to the Big Three of State Street, BlackRock and Vanguard and the rise of the index fund, but Christophers has something else in mind entirely: a combination of private equity, real estate development, and s......more

Goodreads review by Tutankhamun18 on May 10, 2024

I really enjoyed this balanced look at asset manager society. It explained alot of the basics about asset management and how a profit is made and the way in which asset managers have come to own more and more infrastructure and real estate since the 2000s. • asset manager capitalism vs asset manager......more

Goodreads review by Jim on November 07, 2023

This is a long and detailed read but an important one that raises the alarm about the increasing asset manager ownership of housing and other public infrastructure in advanced economies. The so-called Macquarie Infrastructure modelled by the Australian-born investment bank and financial services pow......more