![]() ![]() ![]() In a Bloomberg TV Davos interview last week, Larry Fink said “the attacks are now personal” and “ugly” coming from those "trying to demonize issues.” He also said that any negative business impact from “anti-ESG” politicians has so far been minor, and he pointed to large overall asset inflows into BlackRock. Like many other companies, it wants to get back to business, while trying to retreat from political engagement in the face of nasty culture wars. These days he is more likely to drape himself in an American flag and to preach hope, peace, and prosperity, like a good capitalist minister.īlackRock probably did not want to be the center of any "woke lash" attention at Davos. Many observed that at Davos this year Larry did not wear his red, white and blue striped global warming scarf, as was the case in 2020 during the heyday of his sustainable investing prognostications. Why was this ritualistic letter not released during the week of Davos? It will appeal to reason and offer hope for a less rancorous future. It will argue that investing is apolitical. We believe that it will be a “back to business“ letter, plus an attempt to thread a needle between polarized political camps in America. This article provides the context and anticipates the essence of what the classic annual Larry Fink letter will say - the 2023 Letter to CEOs has not yet been released. ![]() In which CEO Larry Fink will try to straddle the divide over “woke” investing ![]()
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