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Friday, January 17, 2014

Fink Has More Than One Fighting Style

News summary by MFWire's editors

BlackRock CEO Larry Fink has more than one trick up his sleeve folks. Sometimes, he's like an outside fighter, with long range punches that pummel competitors from a distance. But, we're all learning now that he is also like a slugger or a swarmer, maybe even a boxer-puncher with a surprise hook or an upper-cut. The point: Fink can fight in more than one style folks.

Bully for BlackRock. It stunned, flabbergasted and sometimes even awed the street Thursday with its eye-popping fourth quarter earnings.

You all know the figures now, net income rising 22 percent to $841 million, or $4.86 per share. Assets hitting a record $4.32 trillion.

Yowza.

Of course, a respectable bit of all of this growth came from ETFs, that's one of the main things BlackRock and its iShares' business is known for. But it's interesting to note that that BlackRock also did well with its (gasp!) active funds, with more that half of them beating their peers last year.

The lessons here? Larry Fink's firm is no one trick pony, folks. Fink doesn't fight just one way. You'd do well to remember that. 

Edited by: Amy Xie


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