What is weighing on CEOs’ minds this earnings season?
Shareholder letters are proving to be bleakly prophetic
Schumpeter likes to write—and receive—handwritten letters. When he got out his pen last year and wrote to Larry Fink, boss of BlackRock, he explained to the passive-investing billionaire that he was doing so because he believed they shared a mutual interest: letter-writing. Your columnist went so far as to use a John Donne quote, “letters mingle souls”, to elicit a response. Evidently soul-mingling, whatever its merits in Elizabethan England, is not the done thing in Hudson Yards. Mr Fink agreed to an interview but not, sadly, to an exchange of correspondence.
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This article appeared in the Business section of the print edition under the headline “America, Ink”
From the April 20th 2024 edition
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