5 Top Picks to Surf on the Short-Term Relief From Trade Tensions Rally — Weekly Top Picks
Top Pick #1 : Best in breed for ETFs
Wolfgang Klein, Senior investment advisor at Canaccord Genuity Wealth Management recommends BlackRock Inc. (BLK-N), “Best in breed for ETFs. Not cheap, but quality never goes out of fashion. It trades at 20 times earnings – good for the financial sector. It is taking initiative to dominate market share, while lowering fees. Yield 2.2%.”
Trade tensions seems to be a big concern for institutional investors, who have withdrawn $9 billion from BlackRock, Inc.’s (BLK) institutional funds. Is it trade tensions or professional investors being over cautious and piling up cash reserves must be seen in the coming quarters. BlackRock posted 11% increase in revenues and 26% increase in net income in Q2,2018 compared to Q2, 2017.
This is another excellent earnings quarter for the company driven by iShares ETFs, Long-term funds and Retail fund inflows.