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  "documentTitle": "BlackRock (BLK)",
  "authorId": "23_Bluebell_Capital",
  "authorName": "Giuseppe Bivona and Marco Taricco",
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  "presentationDate": "2024-04-09 00:00:00",
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  "notes": "The slide uses a 'villain' framing by highlighting BlackRock's poor ranking (8th, 10th, and 11th out of 18) in red bars.",
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      "text": "Out of the 18 indicated peers, BlackRock was in the bottom 50% group on a 1 year and 3 year horizon",
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      "text": "BlackRock TSR vs Peers – 3 year",
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      "text": "BlackRock TSR vs Peers – 1 year",
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      "text": "BlackRock TSR vs Peers – Since BGI Acquisition",
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      "text": "Not only did BlackRock's outperformance vs the market (S&P 500) stopped 15 years ago, but also performance vs peers (indicated by BlackRock itself(1)) is deteriorating\nOut of the 18 indicated peers, BlackRock was in the bottom 50% group on a 1 year and 3 year horizon",
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      "text": "TSR: 556%",
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      "kind": "quote",
      "text": "Based on the 2023 AGM proxy filing list of companies used as a reference for compensation benchmarking purposes. These are companies “that are in our industry or have similar lines of business, are competitors for our executive talent, are large, complex organizations with global reach and / or similarly sized from a revenue and market capitalization perspective” — BlackRock 2023 AGM Proxy Filing",
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      "text": "1. Based on the 2023 AGM proxy filing list of companies used as a reference for compensation benchmarking purposes.",
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      "text": "BlackRock is not outperforming its peers either",
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      "text": "BlackRock Stock TSR is below average (and deteriorating)",
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      "arcName": "Overcoming the Monster",
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