Posted on 03/21/2024 2:48:47 PM PDT by riverdawg
The State of Texas is terminating a massive $8.5 billion investment with trillion-dollar asset manager BlackRock over the state's determination that the firm is engaged in a boycott of energy companies. In an announcement first shared with FOX Business, Texas State Board of Education Chairman Aaron Kinsey said the so-called Texas Permanent School Fund (PSF) had delivered a notice to BlackRock on Tuesday, informing the New York City-based firm of the action. According to Kinsey, the move was made in accordance with a 2021 state law that seeks to distance the state and its large public purse from financial institutions boycotting the oil and gas sector.
(Excerpt) Read more at msn.com ...
At least there’s some good news for the fighters of evil. Now watch Texas get sued because of this.
I’m glad I already dumped those stupid woke libtards even their corporate fun was returning capital instead of dividends good riddance.
Indexed funds are great for matching the return of the stock market, but the unintended consequence is you turn over the voting rights of stocks you own to Black Rock and Vanguard.
Vote with your money. Outside of civil war, it’s the only way to win
How does any school system justify a $8.5 investment fund??? I never heard of such. All I ever hear is that they are underfunded. They want us to go out and buy pencils and notebooks for the poor teachers.
I have a couple of mutual funds. Turns out that 30 percent of the money-losing funds are invested in companies who say on their website their primary reason for being is to solve global warming...or words to that effect. I believe the reason is that if you want an investment in your fund from CalPERS (California retirement fund) or Black Rock, you had better be invested in stuff they recommend. The only people making money off those mutual funds are the people running them. This is a huge breach of fiduciary responsibility. If you Google the stock chart on the individual companies who are pushing the climate agenda instead of their business you see where they went from growth to decline between three and five years ago.
I have ditched every fund and am now investing in individual companies. For the first time in several years my portfolio is growing again.
GOOD!!! I thought I was gonna puke when I read that. I know Blackrock ain’t such a good thing
Read this important story!!!!
been wondering why this article has not been posted on its own.
of course, it should be read by everyone and shared widely.
when will people understand who’s in control?
been wondering why this article has not been posted on its own.
of course, it should be read by everyone and shared widely.
when will people understand who’s in control?
This is the state school system, not just one system. Texas is such a huge state thar they have alot of money.
They have to park their oil and gas money somewhere.
Harvard has $50 billion; among public schools Michigan and TAMU are at $17 billion, UVA at $9 billion; they are are the only 3 public institutions in the top 15.
https://www.usnews.com/education/best-colleges/the-short-list-college/articles/10-universities-with-the-biggest-endowments
bout time.
How does any school system justify a $8.5 investment fund??? I never heard of such. All I ever hear is that they are underfunded. They want us to go out and buy pencils and notebooks for the poor teachers.>> my guess is it the pension fund which is probably very improperly funded any howes.
“my guess is it the pension fund which is probably very improperly funded any howes.”
I initially thought so, too, but it is not:
Fortunately, there are alternative non-ESG funds now available with lower fees and similar returns to the ESG-oriented big funds like BlackRock and Vanguard:
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