BlackRock Inc. Chief Exeuctive Larry Fink says that with stocks knocking on the door of record highs, a surge to the upside appears more likely than a market...
‘We have a risk of a melt-up, not a meltdown here.’ Larry Fink, CEO, BlackRock Inc. BlackRock Inc. BLK, +2.25% Chief Exeuctive Larry Fink says that with stocks knocking on the door of records, a surge to the upside appears more likely than a market collapse. That is because so many investors still have lots of cash to put to work, the head of the world’s largest asset manager told CNBC in a Tuesday interview.
A meltup is often defined as a sharp and unexpected rise in the price of an asset class, driven largely by a stampede of investors who are more concerned about missing out on a big up move than by improving market fundamentals. Melt-ups are often followed by sharp market setbacks. Data from Lipper last week showed that U.S. equity funds saw $4.3 billion in inflows through the week ended April 10, but that followed a $19.7 billion outflow from the end of last year through April 3.The stock-market rally so far this year has been partly attributed to a dovish shift by the Federal Reserve, which abruptly paused its policy tightening effort in January to adopt a wait-and-see approach after delivering four rate increases in 2018.
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