BlackRock just lost the largest amount of money lost by a single firm over a six-month period
(twitter.com)
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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.