Author Topic: BlackRock Faced with Catastrophic Loss Worth 100's of Billions, Smashes Industry Records  (Read 5471 times)

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Offline corbe

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BlackRock Faced with Catastrophic Loss Worth 100's of Billions, Smashes Industry Records

 By Abby Liebing
 July 22, 2022 at 12:33pm


BlackRock Inc. is the world’s largest asset manager, controlling trillions in assets. It is one of the great, if not the greatest, financial giants of the globe.

But this year, BlackRock has set a new record by losing the largest amount of money a single firm has ever lost over a six-month span, Bloomberg reported.

Just in the first half of this year, BlackRock lost $1.7 trillion of clients’ money.

Overall, as of December 2021, BlackRock manages about $10 trillion of other people’s money. That’s more than the gross domestic product of every country in the world, except for the U.S. and China, Insider reported.

So losing $1.7 trillion is a significant blow.

To give a snapshot of just how powerful BlackRock is, how much money it controls and how its losses can affect so many, here are just some of the things that BlackRock manages, or has a hand in.

<..snip..>

https://www.westernjournal.com/blackrock-faced-catastrophic-loss-worth-100s-billions-smashes-industry-records/
No government in the 12,000 years of modern mankind history has led its people into anything but the history books with a simple lesson, don't let this happen to you.

Online roamer_1

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My give a damn's busted. I will probably cheer if they go belly up

Offline corbe

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  If they go belly-up it will make the housing financial crisis of 2008 look pale by comparison for all the same reasons, IMHO. 
  Didn't they start as a Pentagon Contractor in the 80's? 
No government in the 12,000 years of modern mankind history has led its people into anything but the history books with a simple lesson, don't let this happen to you.

Offline libertybele

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My give a damn's busted. I will probably cheer if they go belly up

If they go belly up a lot of people who are receiving pensions (of which they paid into) are going to be devastated.  Pensions were already in trouble and this certainly is going to throw a lot of people into real financial turmoil. 
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Online roamer_1

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  If they go belly-up it will make the housing financial crisis of 2008 look pale by comparison for all the same reasons, IMHO. 
  Didn't they start as a Pentagon Contractor in the 80's?

Sure will. But it's coming either way.

And yeah, I do believe they are the same as the original Blackrock... I like my public and private enterprises very decidedly divided... Never the twain shall meet.

Online roamer_1

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If they go belly up a lot of people who are receiving pensions (of which they paid into) are going to be devastated.  Pensions were already in trouble and this certainly is going to throw a lot of people into real financial turmoil.

Like I said right above, it's coming anyway. if it causes Blackrock to crater, well then, every cloud has a silver lining.  :whistle:

Offline Gefn

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Online catfish1957

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My give a damn's busted. I will probably cheer if they go belly up

Fink's duped a lot of investors with his eco-terrorist tactics, and I'd bet 90% were unaware of his ideological objectives.   A lot of those folks were just innocent bystanders. You've devolved into something asocial.  Feel sorry for you.

I hope no one cheers your misfortune.
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Online roamer_1

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Fink's duped a lot of investors with his eco-terrorist tactics, and I'd bet 90% were unaware of his ideological objectives.   A lot of those folks were just innocent bystanders. You've devolved into something asocial.  Feel sorry for you.

I hope no one cheers your misfortune.

Surely I am sorry for innocent bystanders. But that does not make me root for Blackrock. THAT would be asocial.

Online catfish1957

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Surely I am sorry for innocent bystanders. But that does not make me root for Blackrock. THAT would be asocial.

That's fair. Sadly, brokers and fin. institutions do not warn clients of what I call the intangibles of these large Fund Managers.

In a corporation, at least there is a democratic process of a relatively large board,  12-25 typically who vote for what is best for the company.  Not woke causes.  These large fund managers are ran by 1-5 usually like minded folks who can let the politics seep into the equation.  If you are invested in 50 different companies in a particuar mutual fund, your stake in the overall direction in the company's health is much less.

Then, as you grow out of control, you then weld every "don't give a damn" investor's share for annual company vote.  New board members, policies, etc.  And like in the case of Fink and Blackrock they have welded that power like no one else.  In fact Blackrock and a few other power players are doing more damage forcinig GND shit down our throats than Thunburg, Gore, Kerry, and PIRG all combined.  All via corporate blackmail.

I wish there was a way that local brokers and analyst would and should become more knowledgeable of fund manager's intent, and share that with clients.   But that is a tall order, and really no practical way to implement.
« Last Edit: July 23, 2022, 01:59:36 pm by catfish1957 »
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline Bigun

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Offline libertybele

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That's fair. Sadly, brokers and fin. institutions do not warn clients of what I call the intangibles of these large Fund Managers.

In a corporation, at least there is a democratic process of a relatively large board,  12-25 typically who vote for what is best for the company.  Not woke causes.  These large fund managers are ran by 1-5 usually like minded folks who can let the politics seep into the equation.  If you are invested in 50 different companies in a particuar mutual fund, your stake in the overall direction in the company's health is much less.

Then, as you grow out of control, you then weld every "don't give a damn" investor's share for annual company vote.  New board members, policies, etc.  And like in the case of Fink and Blackrock they have welded that power like no one else.  In fact Blackrock and a few other power players are doing more damage forcinig GND shit down our throats than Thunburg, Gore, Kerry, and PIRG all combined.  All via corporate blackmail.

I wish there was a way that local brokers and analyst would and should become more knowledgeable of fund manager's intent, and share that with clients.   But that is a tall order, and really no practical way to implement.

Clients that invest their money into any kind of fund should be given a 'prospectus'.  That prospectus lists the companies and stocks that the fund is invested in. That is a 'disclosure' that all clients are to be given by their broker or financial advisor.  However, that doesn't necessarily mean that the client is actually going to read the darn thing or do any research before they invest.

In the case of stocks, investors should do some kind of research before investing.

Pension plans are a whole other ballgame, wherein the company,  who takes money out of paychecks invests the money for the employee and in the case of the state pension, again money is taken out of paychecks and the state invests in funds and employees again are at their mercy.  Employees are simply trying to save money for their retirement instead of strictly relying on social security. So these are the innocents; millions who put money into company or state pension plans who are going to get royally screwed (such as myself and my husband).

In the case of social security, isn't that money invested??
« Last Edit: July 23, 2022, 02:24:48 pm by libertybele »
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Online catfish1957

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Clients that invest their money into any kind of fund should be given a 'prospectus'.  That prospectus lists the companies and stocks that the fund is invested in. That is a 'disclosure' that all clients are to be given by their broker or financial advisor.  However, that doesn't necessarily mean that the client is actually going to read the darn thing or do any research before they invest.

In the case of stocks, investors should do some kind of research before investing.

Pension plans are a whole other ballgame, wherein the company,  who takes money out of paychecks invests the money for the employee and in the case of the state pension, again money is taken out of paychecks and the state invests in funds and employees again are at their mercy.  Employees are simply trying to save money for their retirement instead of strictly relying on social security. So these are the innocents; millions who put money into company or state pension plans who are going to get royally screwed (such as myself and my husband).

In the case of social security, isn't that money invested??

Great points.  As big as I am into this, my eyes often glaze over during reading Prospectus'

As you point out, the problem is the investing public is unaware, and in 75% of the time doesn't really care as long as the fund gives good consistent yields.

And honestly, I own 72 different stocks and mutual funds.  There really isn't time to parse through every prospectus, so I am guilty too I guess. Except those, that I think are screwing up.
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Online GtHawk

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Clients that invest their money into any kind of fund should be given a 'prospectus'.  That prospectus lists the companies and stocks that the fund is invested in. That is a 'disclosure' that all clients are to be given by their broker or financial advisor.  However, that doesn't necessarily mean that the client is actually going to read the darn thing or do any research before they invest.

In the case of stocks, investors should do some kind of research before investing.

Pension plans are a whole other ballgame, wherein the company,  who takes money out of paychecks invests the money for the employee and in the case of the state pension, again money is taken out of paychecks and the state invests in funds and employees again are at their mercy.  Employees are simply trying to save money for their retirement instead of strictly relying on social security. So these are the innocents; millions who put money into company or state pension plans who are going to get royally screwed (such as myself and my husband).

In the case of social security, isn't that money invested??
While I feel bad for people like you will suffer,  :pondering: I don't believe that's the case in California and CALPERS, here it the California taxpayers that get screwed because we are on the hook to make up any losses. If I had known then what I know now I would have found a nice comfy school district or city job instead of bustin my ass with no pension.

Offline corbe

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    I haven't forgot how the GM Bondholders got the deep end of the shaft even w/obummer bailing them out.
No government in the 12,000 years of modern mankind history has led its people into anything but the history books with a simple lesson, don't let this happen to you.

Offline IsailedawayfromFR

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Fink's duped a lot of investors with his eco-terrorist tactics, and I'd bet 90% were unaware of his ideological objectives.   A lot of those folks were just innocent bystanders. You've devolved into something asocial.  Feel sorry for you.

I hope no one cheers your misfortune.
I would never invest a dime into Ishares or any of Blackrock's offerings. They are globalists
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline IsailedawayfromFR

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In the case of social security, isn't that money invested??
Where in the world did you get that idea?

It is a 100% Ponzi scheme.  If you or I ran one, we would be in jail for years.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Online catfish1957

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I would never invest a dime into Ishares or any of Blackrock's offerings. They are globalists

Yep, and the worst of the lot.

Sadly have to have to admit having one fund.  Have had it nearly 25 years, and really don't want to take the capital gains hit right now.
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline IsailedawayfromFR

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Yep, and the worst of the lot.

Sadly have to have to admit having one fund.  Have had it nearly 25 years, and really don't want to take the capital gains hit right now.
I have had the same problem.  After owning several solid companies like Disney, Morgan Stanley, and Coke for years, I decided to sell them as I could no longer stand their wokeness, regardless of their financial merits.

To me, being woke will ultimately result in subpar performance.  It is just a matter of time when it happens.

I do have to say that Disney and MS have both gone under since I sold, and I suspect that Coke will sometime do the same.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Hoodat

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Just in the first half of this year, BlackRock lost $1.7 trillion of clients’ money.

Overall, as of December 2021, BlackRock manages about $10 trillion of other people’s money. That’s more than the gross domestic product of every country in the world, except for the U.S. and China, Insider reported.

So losing $1.7 trillion is a significant blow.

It's a significant blow to their clients.  But not to BlackRock itself.  Either way, they get paid.  They just happen to be the biggest bookie in town.
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Offline Hoodat

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In the case of social security, isn't that money invested??

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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-

Offline libertybele

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Ok then....
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Online roamer_1

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Ok then....

Yeah... Social security goes right into the General Fund and is spent.  :shrug:

Offline jmyrlefuller

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Yeah... Social security goes right into the General Fund and is spent.  :shrug:
No. It's loaned, then paid back to the fund with interest using other borrowed money to keep it nominally solvent.
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Online roamer_1

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No. It's loaned, then paid back to the fund with interest using other borrowed money to keep it nominally solvent.

Right... spent.