If that is their excuse, then they just exposing themselves as fools. Sort of like you've gotta be in teck stocks in the 90s. I remember that a broker called me and asked me if I was in tech stocks. I said, "No, they scare me to death." He laughed. But he who laughs last laughs best.
The problem is that you have to survive today in order to be here tomorrow.
It's not a fair comparison to tech stocks. Unless perhaps you are a portfolio manager in the 90's. Then in order to survive, you had to play. Or you had to position yourself as a niche portfolio where you wouldn't be compared to the tech gains.
Yes, I agree with you. 10 to 20 years from now when China nationalizes those companies and foriegn owners are left with nothing. It will appear to be a fools strategy. But the individual CEO must play the game today to survive.
Only Government can change the rules so the CEO doesn't have to play.