Amitabh Bachchan paid tribute to the soldiers who sacrificed their lives, while superstar Shah Rukh Khan urged people to be fearless and fight for their rights.
Bachchan tweeted: “Happy Independence Day .. India breathed freely on the 15th of August 1947 .. in remembrance of those that fought and sacrificed!”
Shah Rukh Khan wrote: “The free man is he who does not fear to go to the end of his thought. Be free today and always. Happy Independence day.”
Lara Dutta said: “Happy Independence Day folks! I pray for independence in thought! So that we are informed, mature citizens, not influenced by herd mentality.”
- Bollywood stars commemorate Indian Independence Day on Twitter, DigitalSpy.co.uk, August 15 2017.
3. Privately, some market participants fret that BlackRock’s genie is creating a new orthodoxy when it comes to analysing assets. That is especially true for complex structures which require its forensic expertise to unpick. “Nobody understands some of this stuff” without going through BlackRock, says a portfolio manager who uses Aladdin and regularly trades with the firm. A potentially worrying development is that it is now possible to engineer bonds to maximise the chances of BlackRock investing in them.
The disturbing parallel is with credit-rating agencies such as Moody’s and Standard & Poor’s in the run-up to 2008. Investors blindly relied on the agencies’ analysis of financial constructs underpinned by subprime mortgages, many of which were engineered in such a way as to ensure AAA-rated status but subsequently defaulted anyway. BlackRock’s models are undoubtedly more sophisticated than the credit-rating agencies’, and their use is not mandated by regulators. But Mr Fink is the first to admit that they are flawed, too: “If you believe models are going to be right, you’re going to be wrong.”
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