I'm sorry if I wasn't clear. I fully agreee that owning a few slivers of a fund doesn't make people like me nobility.
Further, I also don't think pension funds are similar to nobility. They have a lot of money and own a lot of buildings (indirectly through funds), but also a lot of future obligations to a lot of people who aren't any kind of nobility. Their assets don't add up to more than their obligations, certainly not to so much more that the difference can sustain a nobility.
Further, I also don't think pension funds are similar to nobility. They have a lot of money and own a lot of buildings (indirectly through funds), but also a lot of future obligations to a lot of people who aren't any kind of nobility. Their assets don't add up to more than their obligations, certainly not to so much more that the difference can sustain a nobility.