Brian Kuenzi

In this discussion, finance expert Brian Kuenzi delves into the seismic shifts in capital markets due to the rise of passive ownership. He highlights how the dominance of the 'Big Three'—Vanguard, BlackRock, and State Street—impacts internal audits, often leading to apathy in compliance priorities. Brian explains how passive investing creates inelastic markets that detach prices from fundamentals. He also explores the reduction in risk functions' influence as companies prioritize stock performance over governance.