Ayatollah Khamenei Is Iran’s Supreme Investor
The best way to understand Iran’s elections this week is to think of Supreme Leader Ayatollah Ali Khamenei as the regime’s supreme investment manager.
Like Warren Buffett, or any other top fund manager, Khamenei is answerable to his shareholders when making a big investment pick. Both men enjoy enormous personal authority, but if they keep hurting the interests of their shareholders by getting the big choices wrong, that authority will erode.
Khamenei’s shareholders consist mainly of the Islamic Revolutionary Guard Corps and the Principalists, a broad coalition of conservative politicians. Where Buffett is judged by the companies and stocks in which he invests, Khamenei is judged by the politicians he picks or supports for positions of authority, and how those people further the economic and political interests of the supreme leader’s supporters.… Seguir leyendo »