BlackRock Closes In on the Once Unthinkable, $10 Trillion in Assets

BlackRock Inc.’s second-quarter profit rose 14% on new money coming into the giant asset manager, a sign that investors are becoming more confident about an economic recovery.

The company posted a quarterly profit of $1.378 billion or $8.92 a share, up from $1.214 billion or $7.85 a shareIts assets under management rose 30% to $9.5 trillion, from $7.3 trillion a year earlier, cementing its dominance as the. Known for its funds that track markets and trade rapidly on exchanges, BlackRock’s returns reflect the market’s tremendous rally since the depth of the pandemic and Chief Executive Larry Fink’s push to build a company that serves nearly all types of investors.

While the firm’s returns were lifted by a slate of assets rising to record highs, its fortunes remain tied to markets and shifts in investor sentiment. Mr. Fink will now have to navigate an environment where the pandemic and the central banks’ intervention in markets are changing the economy in radical ways. Prices for things from used cars to oil have risen as the U.S. economy opens up.

And, as the largest shareholder of many of the country’s largest companies for investors, Mr. Fink thinks inflation is likely here to stay.

Time for the us treasury to get back to unloading it's equity holdings again. Gradually of coarse.

Capitalism at its finest.

If you know anything about BlackRock's business model, this is one of the most horrifying tweets you could ever see for several reasons.

It's the availability of Vaccines which is making the difference

“too big to fail” right BarackObama ?

this is terrible news

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