BlackRock co-founder and CEO Larry Fink, in his annual letter to shareholders has rattled some important cages, even if you can see self-interest shining through.
He highlights a couple of not necessarily unrelated issues. First, he is frightened by the US public debt situation, and second he warns of a looming “retirement crisis” facing the US and called on baby boomers to help younger generations save enough for their own futures.
Young people “have lost trust in older generations,” Fink wrote. “The burden is on us to get it back. And maybe investing for their long-term goals, including retirement, isn’t such a bad place to begin.”
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