like we're watching the walking dead i mean they're the walking dead these guys i mean what is black rock they just repackaged boxes ok wow whoop de do they take an override on this they're just wrong ca's they've added absolutely nothing to the economy of substance and value on a positive note the report was there 10 years ago covering this and warning you of this and saying that the u.s. dollar would be displaced by decline we saw that 10 years ago so now 10 years later you know here's a guy who gets paid hundreds of millions probably billions a year as managing 7 chilean dollars in assets and he's only just figuring it out now so you know positively you're still able to watch as you're watching us now if you're here. me speak then you're watching us so you've been able to be ahead of the curve across the world now another guy you know another he's a smart guy he but he's a billionaire hedge fund manager and he's an studying bitcoin and just got in this past spring and we covered up paul tudor jones but he was just on yahoo finance and he said he was also saying some interesting stuff n

i look at this black rock survey, that they just did, remember, of course, earlier this year, black rock put out sort of new metrics in terms of how it would evaluate companies overall, largest asset manager on the planet, 25 trillion in assets, they planted double their esg assets in five years climate related risks are the top sustainability portfolio concern for 88% of respondents to this, again, global client sustainable investing survey done by black rock 20% said, you know, that this -- the pandemic would accelerate their sustainable investing allocations. it is a tectonic shift is what black rock says, jim, and so i just -- i don't know when you're in this business, i just not quite sure how you get it done. >> you're right. and i think that when you look at what doug peterson is doing over at s&p, in terms of his esg funds, chevron is not in those and that's the best there is the best there is. >> we'll keep talking to him about sustainability every time he comes on, we'll be happy to talk to him about it. >> you're so mean. >> no. >> no doubt. we have a bunch of retail stories t

today the topic we are going to address is black rock during the civil rights era. screen.

>> black rock. >> mad money with jim cramer starts right now - [announcer] tg program is a paid advertisementsmart air purifier sponsored by nuwave llc, featuring deborah norville on award winning journalist and new york times bestselling author. - we are all living in strange and unsettling times. never in history has everyone on the planet been challenged by the same thing. covid-19 has changed the way we work, the way we interact and we're all still trying to figure out what it means for our future. amidst the uncertainty, all of us are trying to take care of our families as best as possible. i've lost track of how many masks i've made and we've all been wiping down door knobs and surfaces.

black rock has been perhaps the most vocal asset manager on restricting access to capital for legally operating fossil energy businesses and limiting choices for their investors based on misguided public relations goals. this, in part, is attributable to the efforts of mr. diese who has ork straited the curious investment strategy of actively alienating a an entire sector of the american economy, the u.s. energy sector, and the millions of jobs it supports, while at the same time enthusiastically providing access to capital to chinese businesses which threaten american competitiveness and national security. the appointment of him is a harbinger of things to come. it showcase that is unless we act we will be on the path to socialism where the primary goal of a corporation is not long-term growth or hiring more people or providing products and services to the american people but instead to satisfy the most vocal detractors of corporate america. so-called stakeholder capitalism, or o the left's ideals for it, takes for granted the laws of supply and demand and discounts the market forces

black power has a political objective, but more important, and this is where the rock 'n' roll elements comes in, black power has a very strong cultural, a very strong cultural element. culturally speaking, the phrase black is beautiful characterized the meaning of black power in the mid-1960's and the late 1960's. it was an ethnic heritage that was embrace, not something to be ashamed of. african names, address, natural hairstyle, the afro, becomes a statement against literal white process. it is not a surprise then that this cultural identity, this ideology of pride, surfaces in the popular music of the time. the music is going to reflect a profound shift in african-american identity. the music reflects a profound shift in african-american identity. we talked in the past about soul, what soul represented, what soul was, what soul is, but it is during the mid to late 1960's that the woke younger brother of soul emerges and that is called funk. funk is the maturation of soul in a changing america, and no one reflected the shift from soul to funk in american popular music more than james

s larry fink the chairman of black rock the world's largest fund manager came right out and said climate risk is investment risk. but i don't think there is a choice between plan and profit. somebody actually metrics that you're scoring companies on you look at anything or is this really any s.g. thing or is this just good business are you producing are you wasting resources or wasting resources back to the bottom line well that. bring it straight back into being. screening companies for the s.g. criteria has proven an effective way to anticipate and avoid scandals capable of wiping out share prices through for example between mutual fund. folks who are going for a long time because there were questions around the governance structure of the company. this allowed those e s g firms to avoid the stock crash that followed reasonably use emissions cheating scandal. of their cause with cheating software to make their. green companies are also better prepared to face the growing threat of climate change. these factors are reviving the appeal of green investment. sustainable funds are attractin

. >> black rock. a lump of coal, a case of mistaken identity. carter helps you from getting scrooged this holiday season >>> then, speaking of gifts, tony zhang has one for the home dpa gamers >>> and finally, facebook has recently become the poster yb child for anti-trust how it could become the post posterchild for a market pullback time to risk less. >> there's a growing sector of the bank any time there's a growing activity in the banking seccer it to could be time to take a breath carter >> that's right, with the bump up in rates, regional banks have come back to life in a big way there's been m&a in the asset management space so we're going to look at some of these areas of the market in relation to the republican and zero in on blackrock the first chart you have three lines even though it looks like two. the top line is the s&p. the three-year chart, s&p up 38%. the two other lines are tightical and two separate industry groups in the s&p the first is s&p 500 investment banks and brokers, that's goldman sachs, morgan stanley and others an

s larry fink the chairman of black rock the world's largest fund manager came right out and said climate risk is investment risk. 'd but i don't think there is a choice between plan and profit. metrics that you're scoring companies on you look at anything or is this really any s.g. thing or is this just good business policing are you wasting resources wasting resources back to the bottom line straight back into big business. screening companies for the s.g. criteria has proven an effective way to anticipate and avoid scandals capable of wiping out share prices through for example in the mean mutual funds they had to hold folks who are going for a long time because there were questions around the governance structure of the company. this allowed those e s g firms to avoid the stock crash that followed reasonably use emissions cheating scandal. of their cars with cheating software to make their. green companies are also better prepared to face the growing threat of climate change. as a reviving the appeal of green investment. sustainable funds or attracting new assets at a record pace. the

but talking to vanguard, black rock, state street, ssga -- global is going to be critical.king to the proxy adviser is going to be critical and talking to their retire res. there are a ton of retirees that own this stock because of the high dividend. that dividend is threatened. management knows that. unless they do a better job of capital allocation, changing the future of their company, that dividend is going to be slashed. so i just -- i cannot emphasize enough, this is the time to take strong, bold action. so for us we feel this is strong, bold action of asking for a change at the top and suggesting that other people take a look at this. >> have you talked to black rock larry fink has made a huge deal about holding companies accountable to these issues, esg, climate change, and putting his money where his mouth s. they are one of the top holders. >> sara, i totally agree i have got to tell you, he hasn't returned my email yet yes, that was the first person i emailed. i have the chance the know larry fairly well. black rock has their own process, they are going to go thr

so then stand up and miller came out soon after and said he had started buying back wine and now black rock is also saying the same black rod. as you know is the biggest asset management firm in the world like it is this thing i mean it's not it 2020 was the year that the institution started to come 2021 if there's a flood of these institutions coming in you know this all time high that we just hit in december it's going to be blown away i mean even even citibank is is saying that they see bitcoin hitting 318005 december of 2021 you know what you're seeing of this you're right you're seeing c.t.s. get involved so nice guys are looking at church action volume in between has gone up significantly because people are starting to dip their toe in the water and that's why there's a lot of interest because you know i told you back in the early days because before big quinn would ever take off you have to see managers dipping their toe or dipping their toe blackrock makes most of their money on commissions basically they don't care if some products to people and they take a spread out they're not t

this particular trade now, the same -- the same -- i will say the same thing as i did about the black rockk is that this is a fairly short day to trade 25 days to expiration by the time investors put it on next week so that's going to be a little higher for this particular trade it will be a little more consecutive. get a continuation to the downside next week you could probably take profits very quickly on this particular trade. >> mike, a lot of people out there might be included not to trade tesla at all it's a little too volatile they want to stay away but in terms of thinking about the impact of the s&p 500, you mentioned the impact on volatility what should we expect when it comes to the vix, when it comes to the swings and the s&p 500 because this is being added? >> yeah, so, you know, it's an important question it obviously is relevant to tes larks but it's a broader question, too. what causes volatility in an index? you know, when you buy an index what you're buying is a diversified basket of stocks in theory so there's two principal components to what creates volatility in the in

of the protocol and those people are starting to come over to the side of bitcoin whether it's black rock and they've got 7 trillion whether it's fidelity has got trillions whether it's michael saylor of michael's micro strategy is putting you know half a 1000000000 it's a big point these are the folks that are going to peeved the road for you know like the romans paved all roads that allowed christianity to spread all these billionaires are paid on the road to allow because to spread globally and i think 2021 is here we just go on to global but quite standard part of it is like i'm saying it's always a reaction to when the institutions fail so in the at the end of the dark ages the institutions that ran europe at that time was the vatican and the vatican failed to have any adequate response to the blahnik plague they didn't know what it was and they didn't know why half the population was dropping dead so they came up with some pretty wacky ideas about what what this was but you know and we try to act today that were so much more advanced and scientific back then but look at what the cen

so let's talk about black rock, the largest asset manager in the world. they joined j.p. morgan, the biggest bank of the world. they say the big point is displacing goal. do you think this is true? is gold, 5000 year run over, as peter schiff about to perform serve only all separate coup in the middle of this trading floor. does because market cap still ahead trillions as fidelity says safe, did it looks like it. i mean, this is the kind of crazy talk that only people like you and me were repeating on twitter a few years ago. now. all kinds of other less crazy people are eating it. it seems . i think, i think the, the, the case for becoming to continue to grow is very compelling today because as near its all time high, i was almost at its all time high. and the fact that it had such a massive crash and recovered, i think, is, is enormous. and having done it 3 times, it's going to start attracting real attention. i think the silly position of the academics you mentioned to just dismiss it out of hand, is i think the perfect complement to just how completely utterly insigni

black rock lows a big people get into the space and then guggenheim also said now that they're starting to buy big client so turkey has no cure for a gold craze that leaves.

black rock lows a big people get into the space and then guggenheim also said now that they're starting to buy big client so turkey has no cure for a gold craze that leaves the lira vulnerable turkey is trying to stabilize their currency which has been plunging over the past few years and part of the problem is that while foreign investors are piling in and driving up that layer higher than it had fallen domestic savers businesspeople and stuff like that they're piling into gold because they're very familiar with gold they have a 3000 strong history year history with gold so that is kind of destabilize saying their local currency right well this is the game the central banks play with fear money and the gold market so the demand for gold is always there to some degree and the gold bullion banks on the central banks they play around with interest rates and they owe is get that 3 or 4 percent move up in gold which they. they then scalp on an almost daily basis they come in and they dump huge sort shelves or should say short sells into the gold market and they scout the market continuously

manager and other hedge fund managers followed him including stan druckenmiller and then the likes of black rock then entered but he said something interesting and i want your comment on it looking forward in the big community for the next few years since he said that gold was a bet on basically apocalypse and humans not saving themselves and everything all people for themselves all individuals for themselves whereas bitcoin was a bet on the future of humanity and innovation and you know positivity essentially i think we can say that the big question community has been funded upon the possibility you know the thing to go man to big point in the 1st place is the whole . mission behind big versus the banks and i look forward to seeing more of that rhetoric come you know over the years there's been lots of infighting within the big queen community but i think as we start to see more challenges would be a coin i missed all serene return to that original rhetoric the original vision of what this was actually created for and not genesis blog when they originally said chunks on the brink of 2nd bailout

another big trend in the last year or so we've seen now big institutional money coming into becoming black rock the biggest money manager in the world fidelity huge trillion dollar operation which has found like halted or johns and you know these guys typically operate as financial mercenaries right they do you know really consider the great moral standards. but they got a lot of money now how is this going to impact because if at all to me institutional money coming in is is to be expected because i think they're seeing even they're seeing that the dollar is just crashing like crazy and they're basically burning money by holding it and they need another asset and this is pretty much one of the few places that you can go that that's not stocks or real estate i mean i guess you can go to gold as well but we know how fractionally reserved lended that is and so on so. the fact that they're getting in is not a surprise and it is predictable just using incentives and game theory i mean there somebody is going to have to get in 1st and once they're there end then other people are incentivized to go i

black rock lows a big people get into the space and then guggenheim also said now that they're startingto buy big client so turkey has no cure for a gold craze that leaves the lira vulnerable turkey is trying to stabilize their currency which has been plunging over the past few years and part of the problem is that while foreign investors are piling in and driving up that layer higher than it had fallen domestic savers businesspeople and stuff like that they're piling into gold because they're very familiar with gold they have a 3000 strong history year history with gold so that is kind of destabilize saying their local currency right well this is the game the central banks play with fear money and the gold market so the demand for gold is always there to some degree and the gold bullion banks on the central banks they play around with interest rates and they owe as get that.