Aladdin and the Jio BlackRock genie

Going into 1986, Larry Fink’s prospects couldn’t have looked brighter. Over the course of the past decade, the 33-year-old had established himself as a legend on Wall Street. His trades had earned First Boston—the investment bank he worked at—around $1 billion. Along the way, he’d pioneered mortgage-backed securities—yes, the same ones that would tank the global economy in 2008—and became the bank’s youngest-ever managing director.

The second quarter of 1986, however, was the beginning of the end for Fink at First Boston. In that period, his department lost $100 million after taking up massive trading positions based on his predictions.