Something stinks with Fink!
The misappropriation of the economic freedom of millions of mom-and-pop investors by BlackRock Inc. CEO Larry Fink has unintended consequences.
“We have a new bunch of emperors, and they’re the people who vote the shares in the index funds,” Charlie Munger, business partner of philanthropist Warren Buffett and a big proponent of index fund investing, recently said.
It’s not for BlackRock CEO Larry Fink to decide whether a large oil company should reduce its investments in oil and gas that others rely on to survive. Pictured: Fink, left, appears March 9 with Fox Business correspondent Charlie Gasparino and anchor Liz Claman on “The Claman Countdown” in New York City. (Photo: Roy Rochlin/Getty Images).
“I think the world of Larry Fink, but I’m not sure I want him to be my emperor,” Munger said.
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