Panic Is Setting In
As I sat down this evening contemplating something intelligent to write about markets, the following headline scrolled across my Bloomberg screen: "BlackRock's Fink says investors should be 100% in equities." The brief recap of a Bloomberg TV interview given by Laurence Fink attributes the BlackRock (BLK) CEO's bullishness to low valuations and returns vs. bonds. Of course, the primary driver for his bullishness is the wall of liquidity provided by global central bankers. Given that BlackRock is the world's largest money manager, Mr. Fink is someone whose psychology and advice we should heed.
However, it is also worth pondering the possibility that Mr. Fink is talking his book, and that his group is already fully loaded on stocks. He certainly wouldn't be the first CEO or portfolio manager accused of such posturing. Moreover, given the massive rally in stocks since the Thanksgiving lows, it is clear that someone is doing some buying, and that many less are selling....726 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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