Subject: NYT: Roger Lowenstein on Buffett
"Scores of corporations have in the last few years adopted climate and diversity policies. The Business Roundtable, a chief executives group, proclaimed it no longer believed that corporations exist principally to serve shareholders. This is a little like the Communist Party dropping its primary allegiance to workers.

Mr. Buffett is having none of it. He is socially conscious and over the years has expressed concerns on topics as varied as inflation and nuclear proliferation. But he is dismissive of social governance warriors seeking to hijack the corporate mission. Most such critics represent institutions. Mr. Fink, mutual fund groups like Vanguard and state pension funds manage other people's money ' they advocate their opinions, not their purses. Mr. Buffett feels a greater allegiance to shareholders who purchased stock as he did ' with their own cash."

https://www.nytimes.com/2023/0...