Schwab backs Musk's $1 trillion pay package

Schwab's Voting Decision on Tesla's Pay Package - Schwab supported Elon Musk's trillion (万亿) dollar pay package, believing it aligns management and shareholder interests [1][2] - The decision was based on a systematic process, made approximately two weeks prior to the vote, aligning with the philosophy of enhanced shareholder value [3][4] - Schwab voted with management on the majority of proxies, believing the factors aligned with the long-term value of the stock [6] - The conditions of the current pay package differ from previous years, with performance aligned with potential shareholder results [7] - The threat from retail investors did not influence Schwab's decision, as the decision was already made [9] Market and Investment Trends - The market is experiencing positive tailwinds, driven by monetary and fiscal policy [15][16] - Concerns exist regarding market concentration and AI-driven capital expenditure (capex) [16] - The market is K-shaped, with the top 15% of the S&P 500 driving a significant portion of the returns [17][18] - Investors are showing strong interest in private assets, alternatives, tax efficiency, indexing, and crypto [21]