Thread regarding Cisco Systems Inc. layoffs

401k Shenannigans

It’s surprising to me that nobody has noticed (or commented) that just as BlackRock Financial put Chuck Robbins on their Board of Directors, all of the good funds in the Cisco 401k retirement plan were removed and replaced with 3 BlackRock funds. BlackRock US Equity Marktet Index fund, BlackRock US Debt, and a BlackRock International equity fund. These funds are poorly managed bogus funds. As an example, as of today (aug 15, 2018) the BlackRock US Equity Market fund is down 3% YTD. Conversely, a “real” fund that actually tracks the US equity market’s performance should be up significantly YTD. Vanguard Total Stock Market (VTSMX) is up 7.8% YTD. Fidelity 500 (FUS-x) is up 7.42% YTD. Fidelity Total Stock Market fund (FSTMX) is up 7.81% year to date.

Chuck’s fund is down 3%.

Not only is chuck a horrible CEO... he and his BlockRock cronies are criminals.

by WTF-Guy
| 2541 views | | 10 replies (last August 17, 2018) | Reply
Post ID: @OP+UFpp7zB
Comment! It's anonymous!

10 replies (most recent on top)

I switched to brokerage link last year when it became available and moved all my funds over. I put all the money into 2 Fidelilty index funds, they are up 18% and 20% respectively in the past year.

by Flex
| | Reply
Post ID: @2ydp+UFpp7zB

These claims are bogus. As of 8/15/18, I am showing +7.05% YTD for the BlackRock US Equity Market fund. This fund also has an expense ratio of 0.017%, which is less than half of the equivalent Vanguard VTSAX mutual fund (+6.74% YTD / 0.04% ER).

by Anonymous
| | Reply
Post ID: @1nxq+UFpp7zB

Make no mistake -- Kelly is the one responsible for the stock price, not Chuck. And yes, as a shareholder, I appreciate that the stock is up. However, as an employee, and a techie, its really tough to sit through chuck's meetings with his lack of vision, strategy, and enthusiasm.

by Anonymous
| | Reply
Post ID: @1mvi+UFpp7zB

Stock is doing pretty good mid 40's under Chuck's watch, no wonder nobody missed JC anymore

by Anonymous
| | Reply
Post ID: @gtz+UFpp7zB

@WTF-Guy where are you seeing that? BlackRock US Equity Market fund is showing +7.64% YTD (as of 8/10/18) for me

by Anonymous
| | Reply
Post ID: @obk+UFpp7zB

Well, that Trump guy sure is good. Heck, Chuck was CEO for 18 months before Trump took office, and by golly, the market cap rose during that time.

by Anonymous
| | Reply
Post ID: @jqu+UFpp7zB

Yes they are definitely bogus funds / non publicly traded. They are not only under performing, but are trending in the wrong direction. I use brokerage link as somebody else suggested. But it is extremely sketchy that they call those funds “index funds”, while they have zero correlation to the indices they claim to track. This IS indeed shady and misleading.

by Anonymous
| | Reply
Post ID: @vlu+UFpp7zB

Trump added about $100B of market cap to Cisco. The entire stock market has performed extremely well. Chuck has wasted billions on poor acquisitions, while Cisco's revenue stream continues to falter.

by Anonymous
| | Reply
Post ID: @iri+UFpp7zB

And Chuck has added about $100B of market cap to Cisco since becoming CEO. I don't share your view.

by Anonymous
| | Reply
Post ID: @fnh+UFpp7zB

I don't normally comment on this site, but please be aware that you can set up a brokerage account linked to your Fidelity 401k, transfer your balance into that account, and buy and sell any funds or stocks you like (except Cisco stock). Realize you are angry on returns, but there is an alternative available to you.

I did this when Blackrock came in, as they weren't publicly-traded funds I could monitor. Good luck!

by Anonymous
| | Reply
Post ID: @rvn+UFpp7zB

Post a reply

: