BlackRock CEO cut some fees, says "stupidity" for others to do so, WSJ reports

theflyonthewall.com

BlackRock(BLK) CEO Laurence Fink said the firm would reduce fees on some of its mutual funds. Now he's saying that it's "stupidity" for his competitors that sell investment products to certain clients "at cost," or without profit. Some observers took his words to be aimed at Vanguard Group

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