Larry Fink, who runs the largest asset manager on earth, has a one-line verdict on where most households keep their money. "Instead of having your liability, which is your liability of life, your duration of your existence, having your money in a bank account is one of the worst financial decisions of a lifetime," the BlackRock (BLK) chief executive said.
Fink made the remark in a conversation with Brookfield Corporation (BAM) (BN) CEO Bruce Flatt on day two of the Milken Institute Global Conference in May 2026, in a session moderated by Michael Milken himself. The Milken Institute has since published the full transcript, which is where the quote comes from.
