Brian Belski
Blackrock Inc.
BLK-N
BUY
Nov 08, 2024
Up 5.5% this week. The assets that private equity companies like this bought when rates were 0% are pretty amazing. As rates settle lower, expects even more activity.
Track record of stock performance has been excellent. Largest asset manager in the world. Does not see the asset base declining - will only grow. Very strong management team with good capital allocation skills. New products always being added to the mix.
A fundamental part of his portfolio. The stock is resting. Usually, it has a big move, then rests, big move, rests. Long term, the growth rate is fabulous.
It's been a dog, doing nothing and trying to crack into infrastructure. Trump wants the Panama Canal back. Blackrock bought it, which could become an amazing return. But shares are still -5.56% this year. Ridiculous.
It reports Friday. The CEO will explain what will happen, that we had a well-oiled economy with a pro-business president ready to take it to the moon, but instead we got a journey to the centre of the Earth.
Likes it as a long-term hold. It's sort of a proxy for the market. Good operator. Not cheap at 17x PE, which is the current market multiple. Stock's come down with the market.
Up 5.5% this week. The assets that private equity companies like this bought when rates were 0% are pretty amazing. As rates settle lower, expects even more activity.