Blackrock Inc. (BLK-N)

Is down because Vanguard cut its fees. He picked up some shares on today's sell-off.

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.

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. 

He looks at its long-, not short-term outlook. Fine CEO in Larry Fink. This is a stock to buy on pullbacks.

BLK is one of the largest asset managers in the world. The company has managed to grow its revenue consistently over the years, driven mainly by organic growth. BLK is a dividend machine with a very stable and consistent track record of raising dividends over the years.

That being said, BLK is trading at 22x Forward P/E - the higher end of its historical multiple, which has ranged from 15.6x to 22x over the last few years. We would not be too aggressive in purchasing here and would be nimble and prefer to add to the position over time as opportunities present themselves. 
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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. 

Their funds benefit from Bitcoin and infrastructure spending, and they're raising private credit money to deploy.

As an ETF provider, they are thriving along with the market, but is not cheap around 20x PE. Overall, a worthy stock.

Is up 54% this year. Revenues are up 15% YOY, and their Q3 beat earnings while management and services businesses saw a rise in inflows. They still have more room to run.

They report next Friday. Is up 15% this year and trades at 22x forward PE. Q2 in-flows are solid at $51 billion. They have $10.6 trillion AUM. Trades at a premium, but boast solid margins.

Blackrock's margins are nearly double Invesco's, though their multiple is higher (it's worth it)

He bought more Blackrock. Commodities, stocks and bonds are doing well, and the economy is strong. Blackrock will make money as asset prices rises. The stock has languished in recent months, but that sets it up to rise.

A good business. Just made a huge buy of a private equity company which fills a hole at BLK. BLK lags peers like Blackstone and KKR, so there's catch-up to come. Long term they will grow 3-5% organically. Interest rates falling will help. Is very undervalued now.

BlackRock Capital Investment Corporation provides middle-market companies with flexible financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities. Its strategy is to provide capital to meet current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies. BlackRock Capital Investment Corporation is organized as an externally-managed, non-diversified closed-end management investment company and has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Its investment advisor is BlackRock Advisors LLC, a registered investment adviser. This page also adds some information. It is significantly small ($281M) and other than the investment advisor agreement we see no direct connection to BLK. BKCC pays a high yield (10%+) and has been consistently profitable (with high variability) for 10 years. Little growth is expected in the next two years. Two analysts cover it (one HOLD, one SELL, avg. target $3.50). It has a history of missing estimates.  The $3.88 stock was more than $16 15 years ago, and it has not created shareholder value other than the dividend, which has been lowered three times in the past five years. Not much impresses us here. 
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Simple: they make money on fees through assets-under-management. Expects in 2024 a strong financial market, so earnings will rise.