Dear BlackRock Investors:
Larry Fink finally got around to a 2023 annual letter. In it he spends more than 9,000 words to confuse the picture about what’s really on tap for 2023: He knows he’s doing you wrong, violating his fiduciary duties to you. And he’s going to keep it right up.
This was the first year that Fink’s grandiose annual letter was sent to investors; in recent years it had been sent to CEOs. Fink sweeps this under the rug as no big deal, but it serves as a covert admission that Fink and his minions are aware of the dangers those CEO letters created for BlackRock and for Fink himself.
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