$11.7 Trillion under management
$21 billion in revenue
-> 0.18% revenue/assets under management
They lost around 30 million revenue, or 0.14%.
As long as it's not a start of a trend, nothing remarkable.
downrightmike•5mo ago
How many assets are underwater? Commercial real estate, retail is crazy too. The valuations are not something that can be maintained long term, and fossil fuels are not a long term solution. It makes sense to divest all of those things that are a bubble.
The more Fossil fuel we use, the worse climate change, the more people die, the fewer valuations actually make money. Its like when Spain in the 1600's, and used their Navy's power on paper to get other countries to back off/ give Spain what it wanted, and then came a real battle and Spain has never recovered from that.
Paper value doesn't match reality and that isn't sustainable, or profitable unless you can time the market.
nabla9•5mo ago
BlackRock has
They lost around 30 million revenue, or 0.14%.As long as it's not a start of a trend, nothing remarkable.
downrightmike•5mo ago
The more Fossil fuel we use, the worse climate change, the more people die, the fewer valuations actually make money. Its like when Spain in the 1600's, and used their Navy's power on paper to get other countries to back off/ give Spain what it wanted, and then came a real battle and Spain has never recovered from that.
Paper value doesn't match reality and that isn't sustainable, or profitable unless you can time the market.