"Ryan Cohen seems to be doing his best Warren Buffett impression, just like Michael Burry suggested. The billionaire GameStop CEO and Chewy cofounder channeled the legendary investor in a lengthy X post titled "The Hollow Men" on Wednesday. Cohen railed against a "new, parasitic class of corporate bureaucrat: The Risk-Free Insider." He lambasted independent directors who don't dare rock the boat and risk losing their cushy, well-paid jobs."
"He berated corporate bosses who balk at tying their fortunes to their company's success - they collect big bonuses if its stock price rises, and receive huge payouts if they tank the business and leave. He also chastised managers who avoid accountability by hiring expensive consultants to blame if things don't work out."
"Risking your own bottom line is the "only thing that keeps a business honest," Cohen wrote. He called for a return to an "owner's mentality," where bosses treat shareholders' money as if it were their own. He warned that failure to change would mean "iconic American franchises hollowed out by fees, managed for the benefit of the Insiders, while the true owners - the shareholders - are left holding the bag.""
Ryan Cohen criticized a new class of corporate insiders he called the Risk-Free Insider, targeting independent directors, executives, and managers who avoid accountability while collecting large compensation. He condemned directors who avoid rocking the boat, bosses who refuse to tie personal fortunes to company performance, and managers who outsource blame to expensive consultants. He urged a return to an owner's mentality, insisting that risking one's own capital keeps businesses honest, and warned that failure to change will hollow out iconic American franchises, leaving shareholders to bear the losses. Michael Burry praised Cohen as rougher than Buffett but more modern in approach.
Read at Business Insider
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