Larry Fink & Mukesh Ambani: Growth, Markets and the Power of Compounding | Mukesh Ambani

Well, all those questions are for the short term. So, let me answer some short-term questions. Look at the markets, the markets are honest. I mean any single day the markets may miscalculate something but over time markets are a great mirror of what's really going on. So whether there's political pressure one way or the other, sure that can shape a market over any one day or week but markets actually are bigger than any individual or any economy. And so if the Federal Reserve eases too early and we see inflation or we see measures that prove it wrong, you're going to have a steepening of the yield curve. So all those issues to me are not that important to be honest. I know they're important for day traders. They're important for media because they could talk about all the churn and all that. But it really doesn't matter that much and I don't really spend that much time focusing on those type of issues. Now over a course of any one quarter, any one year, yeah, sure they matter, but over time the markets correct itself and rebalance itself. And that's pretty much the message that we have to constantly talk about because the message is not about the moment. And everybody gets so confused about the politics, the polarization of opinions, the politization of everything. And yet over time, that's the beauty of markets. The markets are an honest reflection of global economies over the long run. And if you believe in humanity, if you believe that we correct our problems over time, I actually believe the things you read in the newspaper, all the stuff we read that's frightening, I get actually excited because we're talking about those issues and generally we mitigate most of the things that are on the front pages. We actually mitigate. So I actually am pleased when I see all these terrible things and I'm not trying to say each and one of those things may be really terrible but the fact that we're talking about it mitigates, we self-correct. The things that you don't read in the newspaper that you think are a problem. Those are the things that bother me like the long-term issues of deficits that we don't spend enough time talking about. How do we mitigate it? The best way we mitigate it is through growth. That's what I try to tell every political leader. How do you grow your economy? Because you grow your economy, the deficits will be smaller as a percent of GDP. And so I don't get bothered by most of the stuff I read because it's a good thing. That's the power of the press to identify all the issues. But through that identification of the issues, we mitigate those issues. You know, you think about all the problems you read and all the wars and all the skirmishes, but in most cases over time they resolve themselves. You think about how problematic everything is when we entered this year and yet when you think about the beginning of 2025, everybody was so nervous about everything. Yet markets did great over 2025. We have some form of resolution in Gaza and Israel. There are so many other areas in the world where we actually have diminished risk. But if you ask the average person who reads a paper, they would think things are actually worse than they are. And obviously, negative news sells far better than positive stories. And so what I'm trying to say and my message to everybody is yes, please be a global reader of what's going on, but don't get so alarmed by it because we're going to mitigate most of those problems because that's what we do as human beings. And that is the whole message about long-term optimism. Long-term optimists generally win. Elon Musk said in Davos it's better to be an optimist and being wrong than being a pessimist who's right. And I think about just Elon himself for a second I've never met a person who is as smart as he is but with the imagination that he has and the guts to do what he has done. And I think in building that out and I would just liken that to Mukesh Ambani, the ambition, the imagination. And those are the key things in growth and opportunity. And to me this is what we all want to be a part of. We want to invest with people who have ambition, who have the guts to do things that break the mold, that changes society because of the imagination and guts. And to me, that's the beauty of being a long-term investor.