Posted on 02/16/2022 6:57:11 AM PST by Michael.SF.
After reading this article here at FR: BlackRock Investment’s CEO is forcing wokism on American corporations
I looked at my 401K and other retirement funds. I knew I held some Black Rock (my retirement account is managed by a private investment company), but did not know, off the top of my head how much. know one should not sell low, but reinvesting now will be buying low, so it will be a wash.
It was not that much and in three different BlackRock funds. I had them all sold and reinvested.
I did the same right after watching Tucker’s segment the other day.
The others are probably not much better. Maybe less woke.
I think more important than investment choices is avoiding as much as reasonably possible any commerce with corporations listed on Wall Street. If they are on Wall Street, it is a safe bet that either Blackrock or Vanguard is the biggest holder. If there is a chance to shop local, do it.
I had Mutual Funds with BlackRock in all 3 of my WF Brokerage Accounts, called my WF Broker and had him sell them and reinvest in ammo & firearm stocks, a lot of which I already hold.
Good point. Not easily done, but doable.
Example. Walmart used to have choices on the shelf of like items. Now, you get one ‘choice’ and its likely source is china.
My answer is avoid Walmart.
BlackRock has 10 trillion in investments, Vanguard has 7 trillion.
To some extent, if either goes down...
Let me drop something on you here about The American Institute of Certified Public Accountants.
How boring. Yes, that was very true in the 70s, 80s and 90s. Maybe even into the early 2000s. But something happened.
The AICPA has transformed itself into a woke association for sure.
Please be aware of this - Every publicly traded company (and a whole lot of private companies that are not traded) are required to have annual financial audits. (This includes Vanguard and Blackrock.)These services can (by law) only be performed by CPAs. The CPAs may not have to be members of the AICPA, but the structure of the big firms and the industry itself essentially mandate membership in the AICPA.
Continuing .... the AICPA is very big into “Diversity, Equity and Inclusion” as well as the perversion titled LGBTQ+. And also into giving money to BLM.
Honestly, one would think that an entity with a pedigree dating back over 100 years would be more circumspect, and less reactionary. But they have become heavy into progressivism and appeasement.
This matters because it is obvious that they have thrown in with the big corporations who are heavily influenced by Hollywood, the media, and Big Tech.
In my opinion, it is not even possible to be assured of the Independence and Objectivity (key principles in the science of Auditing) of external auditors who have aligned themselves with such destructive ideologies.
Not sure why this has not been mentioned in the past on FR, but it is overdue.
My 401k administrator has gone downhill. Anyone have any suggestions on who to roll it over with?
Blackrock was one of the crucial votes in the exxon board fight. They backed they green people. IOW, they voted against the pro oil group.
A few days later they announced a big holding in another eandp I own. I immediately sold it.
Next on your “to do” list: check out the ownership info on the other publicly traded stocks in your portfolio. Many firms are owned from 1% to 10% or more by Black Rock. Their tentacles are EVERYWHERE.
I offloaded all except BTZ which is a good CEF leveraged with corporate bonds and I’ve not been able to find a suitable replacement.
Yes they’re bottomed out right now be careful.
I’m a big fan of Fidelity for decades now.
Buy DWAC, it’s merging with TMTG( Trump Media and Technology Group). They are about to release Truth Social, it will replace Twitter, Facebook, Reddit, etc. It will be a company that provides streaming services, video hosting, cloud services, banking, you name it. TMTG+ streaming will take on Netflix and other woke companies. Do your DD and get some DWAC before the merger.
I did not have any, I looked.
Mr. Fink is a rat fink.
Not interested in world manipulation.
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