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sleeptrain123 t1_iu4eykj wrote

Reply to comment by [deleted] in BlackRock HQ in NYC stormed with pitchforks. by helloworld_141

Nothing you said relates to that point. It’s not a case of ‘owning’, it’s an opportunity for you to learn something. You can choose whether you do that, or you can choose to continue to not understand the difference between a bank and an asset manager. You said conceptually the video was the same for both, I pointed out that it’s not, you then asked what ‘pendantic’ point I was making, and are now defensive rather than just accepting that you’re wrong. It’s the Reddit way

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[deleted] t1_iu4fxv2 wrote

[deleted]

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sleeptrain123 t1_iu4hv4q wrote

“When you store your money with an institution, they will use that money however they want”

Literally that point alone is just categorically not true. There are very rules about what banks can use deposits for, and any publicly offered investment product by an asset manager has legally binding prospectus and investment disclosures (callled an ADV) which details the objective of the fund, what they’re allowed to invest in, the risk they can take, and what they’re not allowed to invest in. Again, this isn’t a debatable point.

Seriously, just stop, you’re embarrassing yourself. If pointing out that you have a childlike view of finance is pedantic, then I guess I’m guilty as charged!

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