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Larry Fink Can’t Fool Carl Icahn’s Finely-Tuned Slight Detector

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When the BlackRock chief wrote about his lament about the “short-term demands of the capital markets,” he didn’t mention anyone by name. But Carl Icahn can read between lines like “too many companies have cut capital expenditure and even increased debt to boost dividends and increase share buybacks,” and he can’t help but notice that they contain the letters C-A-R-L-I-C-A-H-N.

Now, in the old days, Carl and Larry would have just had it out in a tough Queens schoolyard, but Icahn has been forced to settle for the next-best thing.

He did receive what he describes as “angry” calls from two activists–Carl Icahn and another Fink wouldn’t identify–who were less admiring of the message. As Icahn puts it, “We completely agree with Larry that companies should invest in their businesses if they have the capability to do so.” Icahn adds that such investment is dangerous if implemented incorrectly, “and what’s even more dangerous and concerning is that so many of the companies do not have CEOs that have the ability to make investments …”

BlackRock: The $4.3 trillion force [Fortune]


I forgive you again, Carl.

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