What do asset management companies like BlackRock and Goldman-Sachs actually do?

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The title says it all.

Despite looking at the wikipedia page, I’m still left feeling like I missed something. It seems like investment companies are pointless, but I know little about their actual day-to-day functions.

For example: “enterprise risk management” is listed as one of BlackRock’s specialties; as a working-class layman, this is hard to make any connections to. Is this just funding? Do they perform any duties similar to a bank?

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3 Answers

Anonymous 0 Comments

Feels like I should link the scene in wolf of wallstreet where Mathew McConnehegh tells Leo about how it works.
You take the money from their pocket and put it in yours.

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