Just talked to a Blackrock guy today. Something really interesting that I didn't know is that Blackrock does not invest on their own behalf. He said this is why

Just talked to a Blackrock guy today. Something really interesting that I didn't know is that Blackrock does not invest on their own behalf. He said this is why their CEO, Larry Fink, is often quoted as stating: "We do not take on balance sheet risk". This severely limits balance sheet risk and although it doesn't make them bullet proof or anything, it certainly makes me feel better about their chances. Additionally, although this strategy hurt them in the short term, it seems to be working in the long term.