Politics with No Labels

There’s no way around it: Investing in public companies is always political. Corporations exist because governments charter these artificial entities and legally shield the owners (shareholders) from personal liability. This initially simple concept grew more complex over time. For those interested in the origins, see the fabulous book The First Tycoon. It tells the story of Cornelius Vanderbilt who, along with steamships and railroads, helped usher in the concept of the modern corporation. Vanderbilt was at the foundation of what became modern corporations, even if he and his cohorts did it to further their own ends. You’ll better understand where we are today if you understand how we began. Read more.