, Columnist
Gun-Company Shareholders Really Don't Like Guns
But that probably doesn't matter as long as customers do.
Time to talk about it?
Bloomberg / ContributorThis post originally appeared in Money Stuff.
A strange thing that has happened in modern American financial capitalism is that most gun companies are owned mostly by people who do not like guns. That is: The gun companies' biggest shareholders are mostly big index funds and quasi-indexed institutional investors, whose ultimate owners -- the people whose money the funds are managing -- have no special interest in guns, and whose managers -- the financial-industry professionals in New York and Boston and California and Philadelphia -- are probably less fond of guns than the average American. On the other hand the companies' customers are, by definition, more fond of guns than the average American.