Who Is Really Controlling Your Money? (Not Who You Think) - Capitalmind Podcast
Description
Shray sits down with Deepak Shenoy from Capitalmind to expose how proxy advisors, index manufacturers, credit rating agencies, and one costly habit are secretly making decisions about your investments.
What we uncover:
Proxy Advisors: How Glass Lewis and ISS voted against Elon Musk's $1 trillion Tesla package—and why their word has become gospel for fund managers managing your money
Index Manufacturers: Why NSE and BSE make subjective calls in supposedly "objective" indices. The HDFC-HDFC Bank merger and Reliance-Jio demerger reveal they're acting more like fund managers than neutral rule-followers
Current Account Waste: ₹21 lakh crores sitting idle in corporate accounts earning zero interest—₹40,000 crores in lost profits annually
Deepak breaks down why passive investing isn't truly passive, how the NBFC rule hurts startups, and why transparency matters as index funds take over the market.
Timestamps: 0:00 - Three institutions controlling your money
1:44 - Proxy Advisors - Fighting Elon Musk
6:28 - Proxy advisors have their own agendas
13:30 - Proxy advisors becoming gospel
17:16 - Index Manufacturers - Second institution
18:24 - 35 lakh crores active vs 12 lakh crores passive
20:22 - Index no longer objective function
26:45 - Index manufacturers becoming fund managers
32:01 - Credit Rating Agencies - Third institution
35:21 - Big names get triple A ratings easily
37:52 - Market knew ILFS wasn't triple A
41:37 - Don't link things strictly to ratings
46:25 - Why so much money in current accounts?
49:00 - Could add 40,000 crores to profits
49:36 - Startup NBFC rule problem
56:37 - Reduce need for inefficient buffers
United States
