This is a great thread on index funds. I’ll make the related point that whether it’s Deese at Blackrock or @Claudia_Sahm and the Trump CEA, working for/in institutions that you see as “bad” is harder, more important, and more valuable than riding the currents on friendly turf. https://twitter.com/neoliberal_dad/status/1333831053581185029

Like, the real heroes of the Trump admin are not the “brave” people who resigned, but the much braver bureaucrats who stayed on (or even voluntarily went there) to spend 4 years taking shit from ghoulish political appointees while doing truly invaluable disaster mitigation work.

Granted, I’m sure it softened the blow for Deese that he got to cash enormous checks, and it seems like Blackrock brought him on to do basically what he wanted to do, so not exactly parallel to the point about Trump holdovers, but you get my drift.