BlackRock’s Play to Become Berkshire (or Blackstone): DealBook Briefing
- 6 years ago
BlackRock’s Play to Become Berkshire (or Blackstone): DealBook Briefing
— Michael J. de la Merced
The recent stock market freak-out may have abated, but the dynamics
that drove the sell-off — worries that faster global growth and hotter inflation will trigger faster-than-expected rate hikes — are alive and well in the currency markets.
“Beware of money managers saying that they will be like Buffett.”
From the company’s earnings announcement:
• Fourth-quarter revenue was $732 million, up 2 percent year over year.
• Monthly active users hit 330 million, up 4 percent year over year but flat quarter over quarter.
But its effort to raise more than $10 billion to buy
and hold direct stakes in companies (as reported by the WSJ, citing unnamed sources) could put it more directly in competition with Mr. Fink’s old firm, the Blackstone Group.
— Michael J. de la Merced
The recent stock market freak-out may have abated, but the dynamics
that drove the sell-off — worries that faster global growth and hotter inflation will trigger faster-than-expected rate hikes — are alive and well in the currency markets.
“Beware of money managers saying that they will be like Buffett.”
From the company’s earnings announcement:
• Fourth-quarter revenue was $732 million, up 2 percent year over year.
• Monthly active users hit 330 million, up 4 percent year over year but flat quarter over quarter.
But its effort to raise more than $10 billion to buy
and hold direct stakes in companies (as reported by the WSJ, citing unnamed sources) could put it more directly in competition with Mr. Fink’s old firm, the Blackstone Group.