BlackRock is the best of both liberal worlds. They get woke but it’s you that goes broke. They don’t feel your pain. BlackRock has gone off the investing reservation by going with the Environmental, Social, and Governance (ESG) investing, which in turn has suffered in the current downturn. While other brokerage houses are turning away from ESG investments since the returns are always so much lower than investing to create wealth.

By getting portfolio companies to invest in green companies that are allegedly environmentally sound, but economically lagging, making a profit in the best of times is hard and during bad times is nearly impossible. iShares’ ESG Aware MSCI ETF — which has its largest holdings in companies like Microsoft,  Alphabet, and Tesla — is down 18% since the beginning of 2022. But, iShares’ Global Energy ETF — dominated by oil and gas conglomerates like Exxon Mobil, Chevron, and Shell — has risen nearly 25% over the same time period.

A May report detailing BlackRock’s “firm-wide” ESG efforts, it says that the company is looking to  “engage with investee companies on ESG issues to enhance long-term value.” And me, I’m looking to turn dog crap into gold. Ironically, my plan has a better chance of succeeding than theirs does.

From The Daily Wire

BlackRock — which maintains a 4.2% stake in Apple, a 4.5% stake in Microsoft, and a 3.6% stake in Amazon — is among the most influential asset managers in the world. Combined with the holdings of Vanguard and State Street, the three firms control an average 20% stake in every Fortune 500 company and have been willing to jointly exercise their power toward progressive ends — for instance, by placing three environmental activists on the 12-person board of oil giant Exxon Mobil.

In essence, BlackRock and other large asset managers direct the policies of corporate America on the basis of their clients’ funds — which is often the retirement and pension savings of typical American investors. However, an exclusive Daily Wire poll conducted by Echelon Insights showed earlier this year that 64% of respondents believe “individual investors whose savings are being invested” should ultimately decide whether retirement funds and pension plans are allocated according to ESG criteria. A mere 20% believe that “Wall Street asset managers” should make such decisions.

Art Vandalay

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  • Worry not. It is all in the Bidenreich monetary redistribution plan. It’ll work like a charm.

    • Take care of business At your Home And Make Money From Home …
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  • No different than the corrupt Obama Administration. Remember Solyndra, Obama gave them $500,000,000.00 million in stimulus money. Soon as they received the money, Solyndra filed for bankruptcy,

  • I can’t stop crying. …………So Noble.

    blackrock. com/corporate/literature/publication/where-we-stand.pdf

  • Keep in mind that the woke truly believe they possess unlimited knowledge of economics and finance.
    In her first national interview with Anderson Cooper, he asked AOC how she planned to pay for the Green New Deal. She said people at the “tippy top” have to start paying their fair share. She misinterpreted Cooper’s stunned look. She thought he was astounded by her financial acumen.
    And after blowing up the NYC Amazon deal, AOC still believes the billions of tax incentives that were offered to Amazon are a pile cash “that we could use to improve our (NYC) infrastructure, if we wanted to.”

  • And there are Democrats laughing and counting your money! Like I keep saying it is a huge robbery! And the Democrat could care less who they screw! Obama did the same thing so why is anybody surprised it is happening again????? It was so good for them last time why not do it again? And not to worrie the corrupt courts are in place to protect them!

  • I wouldn’t want blackrock or any other woke puke managing my money. Green stuff don’t return a profit, windmills and solar panels are weak kneed products that at best will supply only 12% of the power required to run america, and is highly unreliable. Just the way it is.

  • BlackRock, Vanguard and State Street are killing America. They are destroy the wealth of the US and forcing the US to lag behind China and soon India. Virtue signaling does not lead to surviving, and these companies are not helping America to survive. There is great hubris that the US is the greatest country in the world and is thereby invulnerable. Invulnerable the US is not, and these investors are forcing the US to misallocate resources and eventually to fail.

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