Thursday, March 27, 2008

BlackRock - Redux

Larry Fink, the Chairman of BlackRock, was on the front page of the Wall Street Journal the other day. BlackRock, along with Highfield's Capital, is backing PennyMac, a new fund formed to acquire non-performing mortage loans from banks and other financial institutions. Larry and the other founders of BlackRock transformed what began as a tiny fixed income shop, beginning with 8 people in 1988, into a trillion dollar global asset management firm - a firm which was grounded around the concept of risk-management. (A concept that was not utilized by many Wall Street firms, as evidenced by the shellacking of Bear Stearns.)

Speaking of BlackRock, my friend, Chris Poe sent this photo of me with Ralph Schlosstein, one of BlackRock's founders, which was taken immediately prior to the screening of "we are BlackRock" in New York City at Gotham Hall.

You will note that the reason I am having a less than stellar hair day is because I was sweating profusely prior to the screening of this latest film, all the while, trying to look calm and collected.

No comments: