Texas pulls $8.5B from BlackRock in stunning blow to ESG movement

[Walt]

Blackrock does not get to do whatever it wants, with OTHER PEOPLES' MONEY.

No, Blackrock does whatever people want with their money. That is the service they offer. If you do not want one of Blackrock's funds, they have many others. If you do not like any of Blackrock's funds, they are fine with you investing with someone else.

Do you see how that works?

They are entitled to direct how their money invested, and Blackrock has been caught investing in failing ESG bullshit, thus endangering their clients' monies.

Caught? They advertised the fund. If you want to invest in the ESG fund, then you are taking the risks (and rewards) from it. Blackrock is willing to help you in your decision.

Mississippi will likely sue them for $billions.

I am sure that Mississippi will sue Blackrock for billions, if not trillions or even zillions or dillions. Zillions and dillions is not even technically numbers, but that will not stop Mississippi.

The next question is what will be their cause of action? It appears to be that Blackrock offered an investment fund that Mississippi does not like. The more legal solution is that Mississippi does not need to invest in that particular fund, or in any fund that Blackrock offers.

 

[Grokmaster]

They are increasing their assets by on average $30 billion a week. That means that in the week they lost $10 billion, they still made $20 billion. And then the next week, they made $30 billion (because right wing politicians had run out of other people's money to pull out).

This is not a "stunning blow." It is actually to Blackrock's benefit. They need to reduce the assets they have under management, and it is better if they can get rid of underperforming assets like these.

Link to your current lie.


Here's the TRUTH:


In the first half of this year, BlackRock jettisoned $1.7 trillion. While the firm quickly sought to pin the blame on 2022's market carnage, there's more to the picture—and it doesn't bode well for investors. Bloomberg is tracking the coronavirus pandemic and the progress of global


https://www.bloomberg.com/news/news...how-blackrock-lost-1-7-trillion-in-six-months

 

[Walt]

2022's market carnage

It is 2024 now. That was 2 years ago.

Blackrock is one of the few companies that losing $1.7 trillion is not a devastating occurrence. Even the major banks that have as much in assets under management cannot lose that much and be OK. Blackrock is an investment company, so is fine with gaining and losing a trillion or two.

A few billion does not even appear on their radar screen.

 

[T. A. Gardner]

Blackrock had roughly $10 trillion in investments before losing $1.7 trillion. That's a serious hit losing nearly 20% of your value.

 

[Walt]

Blackrock had roughly $10 trillion in investments before losing $1.7 trillion. That's a serious hit losing nearly 20% of your value.

Yes, two years ago, its assets went down by nearly 20%. Then they went up by 40%. That is the way of investments.

Let me repeat that: two years ago, BlackRock's assets dropped by $1.7 trillion (with a T) and it did not really effect them. Do you really think pulling less than 1% of that will hurt them? It is not even like having the money pulled is hurting their investors, like the market drop did.

 

[T. A. Gardner]

Yes, two years ago, its assets went down by nearly 20%. Then they went up by 40%. That is the way of investments.

Let me repeat that: two years ago, BlackRock's assets dropped by $1.7 trillion (with a T) and it did not really effect them. Do you really think pulling less than 1% of that will hurt them? It is not even like having the money pulled is hurting their investors, like the market drop did.

Prove it. Everything I'm reading is they are getting smacked down.

BlackRock Is Breaking the Wrong Kind of Records
Clients of the world’s largest asset manager lost an unprecedented $1.7 trillion in the first half’s market carnage.
https://www.bloomberg.com/opinion/articles/2022-07-20/how-blackrock-lost-1-7-trillion-in-six-months

BlackRock Advisors, the investment advisory subsidiary of the private-equity firm, agreed to pay $2.5 million to settle charges by the Securities and Exchange Commission that the firm failed to accurately describe investments it made.
https://www.morningstar.com/news/do...-to-accurately-describe-investments-in-aviron

https://www.ft.com/content/a8a5e057-dfff-4382-be2e-7345a1ef1843

 

[Walt]

Prove it. Everything I'm reading is they are getting smacked down.

Then do not invest with BlackRock. Seriously, I am not in the business of convincing you to invest in BlackRock.

They do a good job of providing investors whatever the investors want, but there are plenty of other companies out there doing the same thing.

 

[Grokmaster]

They are increasing their assets by on average $30 billion a week. That means that in the week they lost $10 billion, they still made $20 billion. And then the next week, they made $30 billion (because right wing politicians had run out of other people's money to pull out).

This is not a "stunning blow." It is actually to Blackrock's benefit. They need to reduce the assets they have under management, and it is better if they can get rid of underperforming assets like these.

 

[Grokmaster]

Then do not invest with BlackRock. Seriously, I am not in the business of convincing you to invest in BlackRock.

They do a good job of providing investors whatever the investors want, but there are plenty of other companies out there doing the same thing.

Many HAVE divested...more to follow, be assured.

 

[Grokmaster]

Prove it. Everything I'm reading is they are getting smacked down.

BlackRock Is Breaking the Wrong Kind of Records
Clients of the world’s largest asset manager lost an unprecedented $1.7 trillion in the first half’s market carnage.
https://www.bloomberg.com/opinion/articles/2022-07-20/how-blackrock-lost-1-7-trillion-in-six-months

BlackRock Advisors, the investment advisory subsidiary of the private-equity firm, agreed to pay $2.5 million to settle charges by the Securities and Exchange Commission that the firm failed to accurately describe investments it made.
https://www.morningstar.com/news/do...-to-accurately-describe-investments-in-aviron

https://www.ft.com/content/a8a5e057-dfff-4382-be2e-7345a1ef1843

They are, and it will get worse...

 

[Grokmaster]

It is 2024 now. That was 2 years ago.

Blackrock is one of the few companies that losing $1.7 trillion is not a devastating occurrence. Even the major banks that have as much in assets under management cannot lose that much and be OK. Blackrock is an investment company, so is fine with gaining and losing a trillion or two.

A few billion does not even appear on their radar screen.

Bullshit. As always, you just make up whatever nonsense you wish was true. Blackrock is becoming Black and Blue Rock..

 

[Grokmaster]

Leftidiot ideology is a piss poor investment strategy, as investors at ESG involved businesses are discovering...and THIS was before Texas, Florida and Mississippi divested, and more to come.


ESG Funds Set a Dismal Record. Yet Performance Was a Drag.

Investors yanked a record $13 billion from U.S. sustainable funds in 2023, stung by mediocre performance and the continuing backlash against environmental, social, and governance investing.



https://www.barrons.com/articles/esg-funds-etfs-stocks-blackrock-e517a15c

 

[Walt]

Many HAVE divested...more to follow, be assured.

Net money keeps flowing into BlackRock. That might change in the future, but right now far, far more are investing than divesting.

 

[Grokmaster]

Net money keeps flowing into BlackRock. That might change in the future, but right now far, far more are investing than divesting.

Do you ever not lie?


" What is the stock market prediction for BlackRock in 2024?
According to our current BLK stock forecast, the value of BlackRock shares will drop by -2.65% and reach $ 730.08 per share by April 25, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 39 (Fear)."