David Hogg’s Call For Boycott of Investment Giants BlackRock and Vanguard Falls Flat
Judging by David Hogg’s past success, now is probably a good time to buy Vanguard and BlackRock funds
Chris Menahan | Information Liberation - April 18, 2018
Judging by David Hogg’s past success, now is probably a good time to buy Vanguard and BlackRock funds.
From CNBC:
One of Parkland, Fla.’s most prominent student activists on stopping gun violence has called for a boycott of Vanguard and BlackRock, two of the world’s biggest investors in gunmakers.
In a post on Twitter on Tuesday, David Hogg remarked on the firms’ ownership of gun maker stocks, adding “if you use them, feel free to let them know.” Then he added two tags: BoycottVanguard BoycottBlackrock.
Hogg’s call for a boycott already appears to be falling flat as he only managed to garner a few thousand retweets:
.@blackrock and @Vanguard_Group are two of the biggest investors in gun manufacturers; if you use them, feel free to let them know. Thanks 😉
— David Hogg (@davidhogg111) April 17, 2018
#BoycottVanguard #BoycottBlackrock
— David Hogg (@davidhogg111) April 17, 2018
More info, feel free to tag these companies pic.twitter.com/KODc2by5yO
— David Hogg (@davidhogg111) April 17, 2018
Fellow Parkland student Kyle Kashuv called Hogg a “clown” in the comments:
Playing with people's livelihood for your political gain makes you a coward with a severe disregard for facts.
— Kyle Kashuv (@KyleKashuv) April 17, 2018
BlackRock’s Democrat CEO Laurence Fink has already said they’ve made funds for people who don’t want gun stocks (few were interested).
As they’re both mega-corporations, both companies are pretty much already on board with an anti-gun agenda, so they’re an odd target for a boycott.
From CNN:
BlackRock is the top shareholder in gunmakers Sturm Ruger (RGR) and American Outdoor Brands (AOBC). It’s the second-largest shareholder in Vista Outdoor (VSTO).
Vanguard is the second-largest shareholder in Sturm Ruger, and the third-largest shareholder in American Outdoor Brands and Vista Outdoor.
A Vanguard spokesperson said that most Vanguard funds “do not have exposure to gun manufacturers,” and that 359 of its 388 funds do not directly invest in Sturm Ruger, American Outdoor Brands or Vista Outdoor. Investors can also put their money in a Vanguard social fund that excludes gunmakers.
“Importantly, Vanguard is taking action, meeting with the leaders of gun manufacturers and distributors,” the company said in a statement. “We want to know how they will mitigate the risks that their products pose and how they plan to help prevent such tragedies from happening again.”
As I reported on Tuesday, Hogg’s boycott of Laura Ingraham backfired epically with Ingraham getting record ratings on the week she returned and at least one advertiser who joined the boycott reversing their decision.
