Frankly this is going to create (is creating) one heck of a buying opportunity in a great franchise; and to boot Blackrock has first dibs at buying the portion Merrill will choose (if they do) to sell off. This is not something that signals a change in operations or opportunity for Blackrock, simply a unique exogenous event.
Analysts' Recommendation: Hold 30 Days Ago: Buy Analysts' Target: $194 Analysts' Targets Credit Suisse $194 Neutral Thursday, March 27, 2008 BlackRock, Inc. is a publicly owned investment manager. The firm also provides risk management and advisory services. It provides its services to corporate, public, and Taft-Hartley pension plans, insurance companies, mutual funds, endowments, foundations, nuclear decommissioning trusts, banks, charities, corporations, official institutions, and individuals worldwide. The firm manages separate client-focused equity, fixed...
Blackrock (BLK) broke down badly this week, with closes below its 200 day moving average for the first time since the worst of the March 08 selloff. I thought it was simply getting caught up in the "all things financial are evil" thinking, but with the huge volume spike Friday it appears the culprit is the fact Merrill Lynch (MER) is so desperate for cash it could be forced to sell off its Blackrock stake for capital. Keep in mind Merrill Lynch has been denying for months it needs anymore capital. (thanks to a reader for alerting me to this story)
You know a financial selloff is getting hot and heavy when they get around to beating down the best and brightest - namely the Blackrock-s (BLK) of the world. So this is when we want to take advantage of the sale prices and begin to rebuild a position. I'm in no rush but since the regional banks are finally taking serious damage, we are seeing some widespread damage in the financials. First we had the investment banks, and large money center banks hit the worst in the first stage of the credit crisis last summer/fall/winter, and now we are on the next stage - major damage in the regional...
Blackrock is just the latest investment firm looking to the middle east for opportunities. Blackrock will hold its annual board meeting in abu dabi on June 2. The CEO of Blackrock, Larry Fink claims that the middle east is the best place to invest. Blackrock is also making huge bets on distressed assets with the purchase some 15 billion in mortgages from UBS. Blackrock is positioned perfectly for the coming years with investments in real estate and potential investments in the middle east.
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