CHAPTER
1
Who Let the Dog Out?
If your dog escaped from your yard and rampaged around the neighborhood, knocking garbage cans into the street, your neighbor would probably show up at your door, and you would, of course, accept responsibility and clean up the mess, scold your dog, and fix the fence.
OWNERSHIP IMPLIES RESPONSIBILITY
What about your investments? Perhaps, like 91 million Americans, you own stocks directly in companies or funds that are composed of dozens, hundreds, or even thousands of stocks. Are you responsible for the behavior of these companies?
Figure 2: Are you responsible for your dog’s actions? Photo used with permission of ...
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