BlackRock just lost the largest amount of money lost by a single firm over a six-month period
(twitter.com)
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It's all pretend money anyway, created from nothing.
You wouldn't say that if you had lost the money. I DID! That "pretend money" was my retirement fund and now I get to work til I drop dead. Lucky me. Maybe you'd like to work to support me?
I am very sorry that you lost money. I am going to say this and it is going to suck, if you don't hold it, you don't own it.
Welcome to that club. I have exactly $0.00 in retirement money set aside.
There's still time to buy Gamestop, though you might be better off tomorrow after the split dividend, when the price gets cut.
If you invest in firms that make the world shit, I really don't feel bad about you losing money on it.
Why anyone would WANT companies that do evil to do well so they can retire ... seems a bit at odds with your own self-interests.
But hey. Most people don't take their own principles that seriously. Usually makes it hard to retire.
When it’s tied up in an employer-based 401k or pension plan, (if pensions still exist), you don’t have control over much.
I highly doubt anyone here wants to support companies that do evil.
Every day we invest in companies that don’t have our best interests at heart — Do you investigate the corporate and financial ties associated with every single food brand, restaurant, product, etc that you buy and consume every day? Are you sure all these products, businesses and their suppliers, manufacturers and third party vendors have your self-interest in mind?
With all due respect - no. You have a choice all the way down, all the way along the line. To claim now - "Bro, but bro, its so hard when they make it soo easy"..... is a cop out.
I am sure it varies by location, but you can remove your pension to a private, under your direction, account. If it can't - why are you working there? To each their own, but working somewhere where they will take your money and not give you access to it - means it isn't your money. There is no argument in that is there? You're doing it because it is easier, there is more benefit for you, etc, etc, etc, and, and, and... but
Throughout history, almost without exception, when we are faced with more than 1 option it is between one that we know deep down is right, and one that is expedient/sweet/easy/(whatever pull)..... In exactly 0 cases, is the easiest choice the right one.
We as a society(this is much larger than just this) have allowed ourselves to consistently pick the easy, pick the simple, pick the more stuff, more items, more, more, more, more........ and all of it was a con. As the old saying goes - We traded our gold for their trinkets, our wealth for their paper, and our children's freedom for illusions of safety for us.
Until we all see our role in this there is nothing that can be done.
You and only you are responsible for your actions. To claim that no one wants to support something, while in the very next sentence state that you do so, :
If that is the case - who forced you to invest there? Where was the gun to your head? There wasn't one. You do what you do, because you wanted to do it. The rest is just excuses.
I agree with you. I saw that shit was going down, and have money in multiple places. The eggs not in one basket thing.
Safe to assume, then, that you fully investigated all dealings related to the coffee or tea brand you drank this morning, along with any milk or sugar brands you may have used?
What about the toothpaste, soap, shampoo, deodorant, towel brands while you were getting ready this morning? Let’s not forget the water and power company, along with the clothing you’re wearing. Can you say for certain none are associated with interests that are actively working towards our demise? You’re responsible for your actions.
Who forced you to use them? Was there a gun to your head? If you’re not completely off the grid and pure in your choices, why are you taking the expedient/sweet/easy/whatever way out?
And is it also safe to assume that you opt out of paying taxes, because taxes are theft, right? I mean, you did say this:
Am I engaging in hyperbole? Yes. But I went there because you missed my point.
It’s impossible to escape the con. We’re surrounded by it every day. And there’s no reason to shame people for investing their hard-earned money because they believed it would bring financial security or freedom.
It is possible to escape the con... YOU STOP PLAYING THE GAME !!!!!
But if you can't and won't - it is because of stuff. Which is my point.
You could stop it - You chose not to stop it(because you continue on playing the game). Don't blame anyone else - it is You. Until we all see that - there will always an excuse, there will always a reason, and it will always not matter.
So with that in mind - YES, yes I do pay attention to whom I buy coffee from. Whom I pay for meat and groceries. That is the moral and ethical obligation I have to me, and mine.
Finally - no one is shaming anyone. Really and truly. You are you, and I am sure you are an awesome person with awesome ideas and shit.. We just disagree here.
The choice is yours. Just don't willingly go swimming and then complain you are wet.
Yes, we are at an impasse. But I’m glad we’re able to respectfully agree to disagree
Peace ✌️
I don't think I know enough to control my 401K. I don't know squat about the stock market or finances, etc. I do a Great job on personal home type finances but not investments. Yes I have depended on others that I don't know to investment my retirement funds but back then I didn't even know about the evil of Black Rock!
It has done relatively ok except for this recession and the one in 2007. I should have taken more control after losing so much then but I was very busy trying to make a living, you know, survive. We didn't lose our house like so many.......and it seems now is a little late in the game.
This may be nothing! I'm still researching it. Go to YouTube and search David Lester straight. Watch the Utah videos. If true, no worries.
This is an overly sensationalized headline.
Nearly all traditional investments are down quite a bit from January. Stocks, bonds, even crypto. My crystal ball says real estate is next, but I digress...
If you just look at stocks, if stocks are down 20% from January, and if Black Rock has the most assets under management, then it's easy to say Black Rock has lost the most money. In truth, everyone holding stocks has lost an average of 20%, but since Black Rock had the largest pie, they lost the most.
The article is insinuating that Black Rock has done a bad job at managing their clients' money. But really, they've done an average job.
Precisely.
ok beer man, take all ur money and invest it in [ BR ] to prove ur point
My point is basic arithmetic.
If Black Rock has $10T in assets under management and Vanguard has $8T in assets under management, and they both make the same investment decision in January to invest in the S&P500 index and leave their money invested until July, the S&P500 index lost 20% during that time.
So Black Rock lost $2T and Vanguard lost $1.6T.
This headline is basically saying, "😱 Black Rock lost more money than Vanguard!" That's true, but the insinuation is that the greater loss is due to poor investment decisions. But in this scenario, both companies made the same exact investment decision. Black Rock just lost more, because they had more to start with.
My point is that the headline is using shady arithmetic to make a story where there is no story. And this board is jumping at it because of a general dislike for Black Rock. I'm not saying Black Rock is a good or bad company. There's probably a lot of shitty people there, especially at the top. But this headline is a nothing burger.
What you described is market forces, not any individuals setting prices.
If there's going to be less natural gas, then the price goes up. Supply & demand. Supply went down, but demand did not (or did not to the same degree).
I think we do have a different view of the future. As things get worse, I see more people waking up.
In the case of natural gas, getting people to reduce their usage is not really an option. I think what will happen is prices will gradually rise as supply decreases. Eventually more and more people will reach their breaking point, and the political leadership will be forced to act.
Just fed taking the money they had laundered before, out to buy back treasuries which are being attacked by the Russia/China. Its all good.
Oh....buy back better....
It lost 1.7 trillion in clients money... is this a comm mocking the clients and the patriots? As in, we're destroying the wealth of the American "Q"-what are you going to do about it?
I don't think that every appearance of the number "17" is noteworthy. It can be a tool for communication, but most of the time it's just a number.
u/#pepenuke
Larry Fink seems to like the woke.
IMO this will come back to bite him in the ass
BITE HIM IN THE ASS --- THAT'S RIGHT LARRY --- IN THE ASS
Blackrock does not care. They get a % win or lose. They also get to dictate the rules to corporations all over the world—their clients, who grant them this power via 401k investments, do not have the ability to dictate terms to CEOs all over the world.
We need to pull our money out of these colossal funds and go smaller.
Ferreted away, removed and embezzled? (Clients money)
Cornered, unable to operate as per usual, in the process of being taken down?
Psyop, narrative generation and propagation?
take yer pick.
1.7, you say
They overpaid buying countless numbers of residential properties which inflated the market prices and now those prices are coming back down, killing their investments. But pretty sure they saw this coming and expected it. They have a back room deal where it doesn’t matter. Their goal is beyond mere money at this point.
$1.7 trillion so far
$1.7 trillion?
Where have we seen that number before?
Born naked, die naked. Mammon can smoke an aoc dart.
once it hits 2 trillion whey are they flying the planes into?
Lost? Or stole?
Some of us got the hell out of the stock market when Biden became "president." Just saying. Interestingly, it might be a good time to get back in.
You have a point there.
But most of the assets they manage are pension funds for normal working people. This won't make a shred of difference to the super rich who will still be super rich. It will hurt the little guy.