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Transforming change into opportunity

An abstract of Blackrock CEO's letter to shareholders.

Longevity has increased dramatically in many parts of the world. In Japan, which is at the leading edge of this demographic wave, there are expected to be more than 400,000 centenarians by 2050, compared to just 65,000 today.

WHEN I was growing up in Los Angeles in the 1960s, I spent a lot of time outdoors near our house, riding my bike and catching snakes by Bull Creek. My universe was small - school, the creek, my father's shoe store - and not just because I was 12 years old. By almost any measure, the world itself...

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