Larry Fink: depositing funds in banks is one of the worst financial decisions ever made

Larry Fink, CEO of Blackstone Group, warned at the Mirken Global Conference that depositing funds in banks might be “one of the worst financial decisions in life”. He noted that with the rise of artificial intelligence, investors and asset owners would receive more returns, and suggested that Americans should have access to capital markets to participate in economic growth. Fink argued that wage growth might fall short of the value created by AI investment, resulting in asset owners taking a disproportionate share of the technological boom. Blackstone estimates that about 40 per cent of Americans still do not have access to capital markets. He stressed that investments should be made after basic financial security and that families needed sufficient funds to cope with expenditures and contingencies。