BOSTON May 28 Blackrock Inc Chief
Executive Larry Fink, who runs the world's largest asset
manager, said on Wednesday he has fielded angry phone calls over
a letter he sent in March to S&P 500 executives that warned them
about the perils of short-term thinking.
"I've had some really angry phone calls," Fink said at a New
York investment conference hosted by Sanford Bernstein. He did
not name any of the angry callers.
In the March 21 letter, Fink warned against relying too much
on dividends and buybacks to produce quick returns at the
expense of long-term investment. Blackrock oversees more than $4
trillion in client assets.
(Reporting By Tim McLaughlin; Editing by Meredith Mazzilli)