BlackRock CEO Larry Fink: We're at the beginning of growing capital markets

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블랙록은 지난 12개월간 7,440억 달러를 순유입하며 실적이 강하다고 설명. 글로벌 연기금 역할, 투자기술, ETF·사모시장 확장이 성장 동력이며 각국의 자본시장 개발 수요가 이어질 것이라 주장. 장기 낙관론을 강조하고, 2000년 1월 1일 투자 후 40% 낙폭을 겪었어도 장기 보유 시 약 8배 수익이라는 근거 제시. 미국 성장과 연금 체계 확대의 중요성 강조.

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01. My black BlackRock shares are rallying after crushing earnings forecast seeing a surge into exchange-traded funds. And I got to tell you, David, this is one of those companies that is a juggernaut. It's just a juggernaut in fees and I'm really thrilled that we have Larry Fink to break down the numbers.

02. The chairman CEO, Larry, look, it's just congratulations. It's it is just a machine. And I want to know how and a lot of other companies are faltering or making mistakes in private credit or other companies have are guiding down in your area. How you just keep putting up unbelievable numbers? That's a tough question to answer, isn't it?

03. He deserves it. Do you know how many people I Do what Charlie Scharf? I crushed him down and he missed the numbers. When you miss our numbers, it's a different equation. If he missed the numbers, we'd be, "Hey, hey chief, how you doing?" Hey, let me answer that question. I you know, over the last 30-plus years, we have been just meticulously building a platform, trying to stay in front of our clients.

04. Uh but if you just break it down in the last quarter in the last 12 months, you know, we raised $744 billion over the last 12 months. Um and much of it has to do with the uh global position we have, the role we have in global retirement, uh our role we have in investment technology uh across the spectrum of passive and active, and now across the spectrum of uh of uh of uh of of exchange-traded products to private markets.

05. And so, no other organization has our platform, and it's resonating. It's resonating with uh with wealth with over a trillion dollars. It's resonating across countries. As more and more countries are recognizing the US juggernaut, Right. the US juggernaut a main part of the US juggernaut, is our role in the capital markets.

06. Every political leader I talked to, how can we build our own domestic capital markets? Europe is finally waking up to the need of having a capital markets union. So, we're winning because we're having these conversations and our role our our role in almost every country is one of the leading retirement managers.

07. And on top of that, I believe we are just at the beginning of growing the global capital markets. And I do believe you're going to see the breadth and depth of the global capital markets growing and our BlackRock will be a part of that. And so, we're winning share. And I do believe the share that we're winning is is not a a one-quarter phenomenon, but it's this years and years of building up the platform.

08. I will listen to every bank CEO over the course of today and tomorrow. And the one thing that you never hear, because somehow it's considered to be uh I I think dangerous, is long-term optimism. It's dangerous because if something bad happens, we'll be playing that clip. Well, no, who cares? You are a long-term optimist and it shines through in everything you do.

09. I think the American public is optimistic, but they somehow have been jaded by everybody. And when I read you when I read this unbelievable note, it's like, yes, it can happen. People can be wealthier than their parents. They should stop being so pessimistic. Well, the whole concept of that letter was to grow with your country.

10. And I do believe that is if you look at the economic array of results, countries that have more breadth in in the retirement system and having more of their citizens grow with their country, these are the bigger winners. If you even look at the United States, 40% of Americans do not invest in in in in the financial markets, but the 60% have grown dramatically.

11. And the only way this can make sense is a long-term optimistic view. And in almost every period of time in our lifetime, if you bought the dips every time you would have benefited. I mean, think about it. If you My letter talks about if you invested on January 1st, 2000, and a year later we had a 40% drawdown.

12. We We had the dot-com boom. We had the great financial crisis. We had COVID. We had many other things. But you made over eight times your money. Okay, you did so much better than a a wage earner, and that has to be addressed. And this is why I believe we need to be much more forceful in thinking about retirement and retirement systems, and BlackRock's at the forefront of it.