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블랙록의 규모와 영향력, ETF 중심 사업 구조, ESG 전략, 알라딘 플랫폼을 소개하는 다큐식 영상. 래리 핑크의 비트코인 관련 발언을 인용해 비트코인을 디지털 금·인플레이션 헤지 자산으로 긍정 평가. 단, 1~3개월 가격 방향에 대한 구체적 예측은 없음.
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giant it's the largest investor on planet Earth with over $9 trillion in assets that's a pile of cash equal to about one tenth of a Year's global economic activity that means the money managers at Black Rock have a big say in how the world runs here's CEO Larry Fink talking to CNBC in 2021 and I've been on your show now probably four times every year at the very least for 22 years as a public company and even longer when we were private talking about retirement black rock is indeed influential in the US it owns at least 5% of most major companies that gives the firm lots of voting power to determine how public businesses operate Black Rock Rose to the top of the financial system in a short span of time after its IPO in 1999 its stock has increased 7,539 through December 2020 along the way the company used technology to minimize the risks of investing Black Rock as well as the other ETF providers have done a great job in bringing a product to investors that provides diversification in investment portfolios at a relatively inexpensive price and I think there's good reasons for them having grown to scale according to Black Rock risk management today means adapting to the changing climate the largest oil and gas producers and the large largest carbon emitters are State controlled Enterprises their leadership has the sway to push Global institutions into action black Rock's relationship with a Fed is a really useful thing for the public to know about the central bank can do things to make our lives better and it can do stuff to make some people really rich here's how Black Rock shot to the top of the financial industry the company we know today is Black Rock was formed in the late 198 80s a young Larry thinkink launched a firm under the Blackstone Investment Group with seven co-founders think's team came together under the management of Steve schwarzman we started the business together in around 1988 89 uh and they wanted to sell it uh four or five years later after the sale Black Rock spent years developing a riskmanagement software that they call Aladdin Aladdin uses a Monte Carlos styled algorithm to uncover scenarios in which an investment could fail over the last really 20 years financial markets have become much more complex volumes have increased exponentially at the same time we've had an explosion in computing power chips have become so much more powerful and inexpensive the combination of financial markets needing increased technology and they're being cheap inexpensive ways to really scale up technological innovations has led to sort of the Confluence of things things like cryptocurrencies Robo advisors and even more basic things simply like Equity markets being almost completely electronic now black Rock's Tech driven approach made it a major firm over time their managed assets swelled and the company started to buy out its competitors in 2006 the firm acquired the distressed assets of meil Lynch and 2009 it took over Barclay's Global Investors at the time bgi owned the intellectual property rights of I shares today that brand is one of the most heavily traded names in the stock market about 3 million shares of its fund tracking the S&P 500 are exchanged every day ETFs or exchange traded funds are at the heart of black Rock's Empire These funds have taken over investing in the past decade I think we can attest that growth to the attraction of ETFs as pulled investment vehicles that allow investors to diversify their portfolio and diversification uh has been shown to be one of the key factors for investors to have a successful investment program you can think of ETFs as baskets of stocks based on themes for example Black Rock offers funds tied to corporations in small towns they also issue funds that Track oil and gas exploration and the defense industry ETFs give investors a wide range of Holdings at a low cost and just to give a sense of of how low those costs can go let's take for example black Rock's S&P 500 exchange traded fund black rock is charging investors 30 cents a year on every ,000 invested and there's great competition uh among fund providers for low fees and that's been a great thing for investors just three companies dominate the ETF Market black rock is by far the largest with roughly a 35% market share of uh domestic Market the next two are Vanguard and State Street both somewhere in say the 15 to 20% market share range etf's reshaped financial markets in a short amount of time more than 80% of all assets invested over the past decade have gone to one of the big three according to Legal Scholars writing in the National Bureau of economic research experts say the financial and Technology Industries lend themselves to concentration competing S&P 500 index funds they're all holding essentially the same portfolio and so they're all going to earn essentially the same return before costs so from the Investor's perspective the best thing to do is to buy the one that passes through the least amount of expense to you and because of economies of scale that's generally going to be the largest fund black Rock's popularity grew alongside the explosion of interest in passive investing in addition to individual wealth Black Rock manages Sovereign wealth funds and has a burgeoning private equities division the company is also a lender to emerging markets in Asia and elsewhere 78% of the firm's revenue is derived DED from investment advisory fees collected from products like ETFs which is why you might have read articles about black rock or seen their leadership on TV so this letter you think is the most important letter you've ever written more and more clients are looking for a more sustainable portfolio to be more prepared areas that are more impacted by climate change is going to have harder time to finance their um their debt if they don't focus on the impact of climate change in their district and their region and their cities Black Rock today is positioning itself as a socially conscious voice of the financial industry you might hear their leadership talk about ESG so it stands for environmental social and governance and the idea is that there are specific issues whether it has to do with climate change or whether it has to do with boardroom diversity or whether it has to do with how your board of directors is constituted generally that are important issues for investors one of the central components of black Rock's plan is to issue funds with stricter ESG standards on business conduct that's a form of active management and it has the same downside as any form of active management which is it's not clear that it can outperform the performance of a of a broad market index but of course that's not really the sales pitch the sales pitch to investors is these companies share your values black Rock's leadership believes that these societal issues will impact the bottom line over the long term consider that black rock owns a 6.7% stake in the oil and gas company Exon Mobile Exxon Mobile alone is responsible for nearly 2% of global emissions according to an open Secrets analysis of climate data Black Rock says it raised climate concerns with Exxon in 2020 over a series of shareholder meetings it joined a group of activists and its peers to push three board members out in 2021 but there's a look at the three new directors to this really is reflective of just the changes in frankly capitalism in terms of the importance of ESG even from a profitability standpoint or a standpoint of giving up some profitability to get your business in a different place with the prospect that you will ultimately benefit Exxon now says it will end routine flaring of natural gas by 2030 and disclose more climate related risks the tighter standards on public corporations may help but they also could push polluting activity and risky assets into more Loosely monitored private ownership even a company uh like black rock that is investing in the entire uh S&P 500 is only investing in a very small part of for example fossil fuel production um the largest oil and gas producers and the largest U carbon emitters are State controlled Enterprises that um are really not amenable to um uh to any pressure from uh US money managers Black Rock has acknowledged that there's a chance that the green transition will push up prices and political tensions worldwide willing to embrace crypto you have made it so that people can be in Bitcoin we hear that you are thinking about ethereum these are incredible things how now black rock is not known as a uh a gun fer by any means so you obviously must believe that this may be as an alternative is this an alternative uh in order to be able because of the a deficit maybe something longterm people should have absolutely um as you know I was a skeptic yes I you know I was a proud skeptic and I studied it learned about it and I came away saying okay you know my opinion 5 years ago was wrong here's my opinion say this is what I believe in today I believe the opportunity today I believe Bitcoin is legitimate I'm not trying to say there's not bet misuses like everything else but it is a legitimate Financial instrument that allows you to have maybe uncorrelated non-correlated type of returns I believe it is an instrument that you invest in when you're more frightened though it is an instrument when you believe that Co countries are debasing their currency de debasing their currency by excess deficits and some countries are I believe we have um countries where you're frightened of your everyday existence and have an opportunity to invest in in a a something that is outside your country's uh you know control then you can have more financial control and so I'm a a major believer that there is a role for Bitcoin and in portfolios I believe you're going to see that as an as one of the asset class that we all look at I look at it as digital gold as I said before and I do believe there's a there's a there's a real need for everyone to look at it as as one alternative to I would say the optimism that I have in the world if you want to hedge hope Bitcoin is not a an instrument for Hope unless you're hopeful you're going to make a lot of money on it but I I look at it as a vehicle in which you're expressing your your financial Acumen in something that you're more frightened of the world you're more frightened of your existence and I believe there's a great industrial use for it and and I think a lot of people are missing that I blackw Incorporated is the world's largest asset manager founded in 1988 by Larry think and partners managing $1 trillion in assets Black Rock operates globally with 70 offices across 30 countries headquartered in New York City its services include ETFs through shares institutional Asset Management personal investing Solutions and Financial Risk Management Aladdin blackw software platform tracks investment portfolios a key strength in the company's offerings despite competition from Fidelity Vanguard and others blackw maintains a leading Market position with diverse services in 2023 Black Rock reported revenue of $17.9 billion and a net income of $5.7 billion reflecting strong financial performance while influential in retirement planning and infrastructure investment Black Rock faces criticisms over environmental concerns and ethical Investments to our Deep dive into black rock the world's largest asset manager founded in 1988 by Larry Fin and partners blackw has grown into a financial Titan with significant Global influence blackw manages a staggering $1 trillion in assets as of December 31st 2023 it operates from 70 offices in 30 countries maintaining both Global and local relationships headquartered in New York City blackw employs a diverse Workforce and serves clients in more than 100 countries underscoring its extensive reach blackw offers a wide range of investment and Risk Management Solutions catering to various types of investment around the globe through its I shares brand blackw leads the market with the most US exchange traded funds ETFs offering diverse investment options for corporate and public pension plans Black Rock provides institutional Asset Management ensuring the security of large-scale Investments blackw also offers personal investing Solutions enabling individual investors to build their long-term wealth with confidence the companies laddin software platform is a standout tool used for tracking investment portfolios by many major financial institutions black Rock's dominance in asset management is clear but it faces competition from major players like Fidelity Investments Vanguard and State Street despite this competition Black Rock scale and diversified offerings have helped it maintain a strong Market position and leading status in fiscal year 2023 blackw reported orted impressive Financial results with $17.9 billion in revenue and $5.7 billion in net income these Financial figures highlight black Rock's capacity to generate substantial profits from its extensive assets under management black Rock's influence is profound helping approximately 35 million Americans invest for their retirement and securing their financial Futures the company has also invested $21 billion in US Transportation infrastructure showcasing its commitment to long-term development projects as one of the big three index fund managers black Rock's investment decisions have a widespread impact on global markets however blackw has not been free from controversy facing criticism for investments in fossil fuels and the arms industry the company's investments in firms linked to human rights violations in China have also drawn scrutiny and ethical concerns black Rock's close relationship with the Federal Reserve during the co9 pandemic raised questions about potential conflicts of interest looking ahead blackw is focusing on key trends like ESG environmental social and corporate governance investing which is gaining traction the continued development of its Aladdin platform and other technological innovations will be crucial for black Rock's future growth with its Global presence blackwar is well positioned to tap into Emerging Market opportunities further expanding its influence while Black's robust position suggests it will remain a major player in the financial landscape it must navigate regulatory scrutiny and ethical challenges as the asset management industry evolves blackw walk's ability to adapt and innovate will determine its continued leadership and impact on the global economy in summary Black's diverse range of products and Serv supports its dominant role yet the company will need to handle evolving market conditions carefully to maintain its top spot
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