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BlackRock suffers $1.7T loss in 6 months: Worlds largest asset manager
- Bostonian 4y agoBlackRock is basically a custodian of financial assets, and it does not make sense to credit or blame the custodian for trillions of dollars of gains or losses due to movements in the financial markets.
- missedthecue 4y agoThis is correct. They are essentially a competitor of Vanguard. It's amazing how many people think they're some kind of hedge fund or prop shop making directional bets and gambles.
- akomtu 4y agoWhat's the relative scale of the two?
- s1artibartfast 4y agoComparable. If the front page of Google is correct, Blackrock had 10T and Vanguard 8T assets under management at the start of the year
- bradknowles 4y agoCheck out Euroclear.com. They exclusively handle all back end clearing and settlement on the Paris, Brussels, and Amsterdam Bourses, as well as the London Stock Exchange. They may now handle some other stock exchanges, too. They also handle the majority of backend clearing and settlement across Europe. As of the last time I checked (several years ago), they had over 27T Euros of assets under management. Their competitor in the US is Depositary Trust Corporation (DTC), and last I checked they had over one quadrillion dollars of assets under management.
- 2malaq 4y agoGenuine question; If they're competitors, why is Vanguard Blackrock's biggest shareholder?[0] Is this the norm? Or is there a link between the two? (I don't know anything about the stock market) [0] https://finance.yahoo.com/quote/BLK/holders?p=BLK https://finance.yahoo.com/quote/BLK/holders?p=BLK
- Bostonian 4y agoVanguard is probably biggest shareholder of many companies, because the index funds it runs are huge.
- vba616 4y agoThe second largest shareholder of Blackrock, appears to be Blackrock, notice? How do you think it is that Blackrock only owns 6.79% of Blackrock? When you figure that out, you will have achieved enlightenment and be able to answer your original question.
- no_butterscotch 4y agoThis isn't entirely true. Blackrock has a lot more influence over the companies they hold. They threaten to dump stock of companies if those companies won't adhere to their ESG scores, which will crash the companies. They threaten not to be buyers of companies if they don't adhere to their will. Market fundamentals don't matter. More info here: - "How BlackRock Has RIGGED the Climate Crisis": https://www.youtube.com/watch?v=mDEGMU6sIEk https://www.youtube.com/watch?v=mDEGMU6sIEk - Blackrock buying up single family homes at a record clip (timestamped), this short video on Blackrock's "Aladdin" AI: https://youtu.be/AWBRldjVzuM?t=363 https://youtu.be/AWBRldjVzuM?t=363 - "BlackRock: The Most Evil Business In The World ": https://www.youtube.com/watch?v=GAIcet1mQwg https://www.youtube.com/watch?v=GAIcet1mQwg
- legitster 4y agoDo you have a non-conspiracy person Youtube source? The whole ESG thing is a weird Kabuki theater thing to hang your argument on. Blackrock had almost no power to enforce ESG, and companies almost have no reason to comply. The fact that do many choose to do so is pretty voluntary.
- namecheapTA 4y agoGuy says that blockrock threatens to sell or not buy based on your ESG scores. Your rebuttal is, blackrock no power to enforce ESG scores. And companies have no reason to comply. Is a huge financial institution threatening to sell not a 'reason' and a form of power?
- Rastonbury 4y agoWhen has Blackrock tanked a stock and where are the ESG changes? Ultimately the are fiduciary as an asset manager for their clients they can't decide to tank stocks for fun. A huge part of the holdings are in ETF which they can threaten to sell. Any deviation from typical huge fund manager behaviour when it come to governance is big finance news they hardly ever go against the grain. The biggest reason tho is that no one in Finance really gives a hoot about ESG, only returns