's Larry Fink
knows a good opportunity when he sees one. Reuters
reports that in the wake of the credit market turmoil, Fink's company has been cleaning up and cashing in. BlackRock's shares have rocketed up 45 percent from a 52-week low set on August 16, in the middle of the credit crisis. BlackRock, which had very little invested in subprime holdings, seized the opportunity to step in to aid other troubled entities. Most recently it invested capital in troubled E*Trade and agreed to help the State of Florida with a troubled investment pool, all with a small fee attached.
Stay ahead of the news ... Sign up for our email alerts now