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Samara Cohen

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61
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2024-04-11
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2024-04-11
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  1. “I think that's right with respect to direction of markets. Now, we actually love talking about our investment strategists actually have a piece that they publish called Flow and Tell. Where they look to flows which give lots of different types of information, but not necessarily directional information. So one of the things about ETFs is because they are trading intraday, they're super transparent, they're measurable on exchange, they actually give us some pretty useful measures around investor sentiment, also around positioning, around allocation decisions. And so there is lots of information that can be extracted from the transparency and availability of fund flow data, particularly with ETFs. But to your point, that doesn't necessarily translate into direction of markets. And just as an example, there's a statistic that I love to look at. We call it the imputed flow statistic, which tells you how much flow into or out of ETFs was present in a particular stock. And if I look across the entire US stock market, that”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Well, across the ETF complex, as you pointed out, there are at iShares, we have 1,300 different ETFs. So being able to provide ways for investors to quickly change their exposures, move out of one fund into another fund. It's a healthy thing for markets. It's a healthy thing for portfolios. I don't know if your question is more around the role of ETFs and price formation and markets. Just generally.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “That's exactly right, and during these stressed markets high velocity markets, investors need some outlet for risk management and for transparency, and so have ETFs have matured in the market, which has been over the past thirty years in the US, it has actually improved markets broadly.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “As you said, 2022 was a remarkable year for markets around the world because we had declines in both equity markets and bond markets. It was the worst bond market in 50 years. I will say as someone who has really had the bulk of my career in the bond market.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “For our ETFs to really deliver to investors, which means really being sensitized to all of the different places, how they work together and how they work together, especially during moments of high velocity in markets.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “So, I've often been asked about the theater part of my background. I've never been asked that question, so thank you because I love bringing back those memories of being in theater, being in tech week of a show. And I would start by saying there's lots of different types of theater, and there's lots of different types of asset management. So the place that has the most relevant parallel for me was putting on large-scale musical productions during theater festivals where you had multiple stages going at the same time. In the business that I'm in right now, which is the ETF business at Black Rock, I would say that work is similarly orchestral. We like to say it takes an ecosystem.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “I think it's absolutely true. Look, when you're a leader, your job is to make the most, to get the most out of people and organizations. It's not what you yourself can do. It's how you position other people to do their best work. That's pretty much what casting is.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “I think ninety five percent of leadership Barry is putting the right person in. The right job and assembling teams that build trust and can work together to Maximize their individual strengths. So I guess what felt so specific to theater to me when I was doing it and especially when I was directing now feels like a pretty profound lesson in leadership.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Plan out for a test drive and make some money so that I could support myself and be financially independent. And I found that I really loved markets.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Total big theater nerd, right? And so I went to college wanting to pursue that as a major. Now in high school, I was also very good at math, but it didn't feel like something I loved, but it was something I was good at. But when I got to college, I had all of this credit so that I didn't need to take another math class. And to my surprise, I found that I missed it. So I discovered economics. I heard about a professor. He was supposed to be good and felt like learning about markets and economics felt like math with purpose to me. And so I started pursuing that in parallel. That made my parents really happy, of course, because I was spending my summers working for regional theater companies so they felt secure in the idea that I had a backup plan. And I felt like I got to live in these two different worlds, which really kind of widened my aperture on lots of things. And then when it was time to graduate, I wanted to take my backup.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Well, I started with theater, as you said, because when I was in high school, I loved it. And now I am the parent of two high schoolers, Barry. So I think back to how important it was to me to go all in on something that I loved. And that's my hope for them that they find something they're passionate about. For me, it was theater, not film, not entertainment. It was bringing people together in a live way in an audience to have some sort of experience that would maybe change them a little bit.”

    2024-04-11 · Masters in Business · Samara Cohen on Global Markets Insights With BlackRock · IDENTIFIED FROM THE TRANSCRIPT · source