Larry Fink wrote in his investment letter about the…
Larry Fink wrote in his investment letter about the dodo, the flightless bird that went extinct in the seventeenth century, and the phoenix, the immortal bird from Greek mythology that rises from the ashes of its predecessor. The dodos of the future will be those who cling to their ailing growth stocks. The phoenixes will be invested in hard assets and the still-unloved energy stocks. Borrowing costs will be high, the $2 trillion capex hole will take years to plug, and low prices for fossil fuels-oil, gas, and coal-will soon be a distant memory.
— from The Flight Plan (Purpose/Wisdom/Risk) · How to Listen When the Markets Speak: Risks, Myths, and Investment Opportunites in a Radic