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The CEO of the world’s largest wealth manager says stocks have more upside ahead and most investors should put more money to work

October 13, 2020

a man wearing glasses and looking at the camera: Shannon Stapleton/Reuters

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Shannon Stapleton/Reuters

BlackRock CEO Larry Fink told CNBC on Tuesday stocks have more upside ahead and most investors should put more money to work in the market.
“I believe we still have more to go on the upside even in front of probably rising infection rates with COVID-19,” Fink said.
With interest rates lower for longer and the likelihood of a second fiscal stimulus, Fink expects the market to move higher.

BlackRock CEO Larry Fink told CNBC on Tuesday that stocks have more upside ahead and investors should put more money to work in the market.

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“We have a strong conviction that the average investor still is under-invested and they’re going to have to be putting more and more money to work over the coming months and maybe even years,” Fink said. “I believe we still have more to go on the upside even in

BlackRock is soaring as investors plow money into ETFs

October 13, 2020

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BlackRock, the owner of the wildly popular iShares family of exchange-traded funds and the world’s largest asset manager, has gotten even bigger during the Covid-19 pandemic. BlackRock said Tuesday that it now has $7.8 trillion in assets under management, a 12% increase from last year.

a man in a cage: A pedestrian wearing a protective mask walks past BlackRock Inc. headquarters in New York, U.S, on on Thursday, July 9, 2020. BlackRock is scheduled to release earnings figures on July 17. Photographer: Jeenah Moon/Bloomberg via Getty Images

© Jeenah Moon/Bloomberg/Getty Images
A pedestrian wearing a protective mask walks past BlackRock Inc. headquarters in New York, U.S, on on Thursday, July 9, 2020. BlackRock is scheduled to release earnings figures on July 17. Photographer: Jeenah Moon/Bloomberg via Getty Images

The continued allure of passively managed index funds is a big reason why BlackRock is thriving during these volatile times for the market. BlackRock said that iShares raked in $2.3 trillion in assets during the third quarter — and nearly 70% of that total was for stock funds.

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BlackRock disclosed the numbers in its latest earnings report Tuesday. Revenue and profit easily

Banking Central | Lessons for investors from Popular Finance scam

October 12, 2020

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© Dinesh Unnikrishnan
Banking Central | Lessons for investors from Popular Finance scam

It is like a song playing on loop. Taken by the promise of higher returns, gullible, maybe even greedy, investors handover their hard-earned money to a finance company, only to find their money gone. It has been happening with alarming regularity but that doesn’t seem to deter people.

The tale of Kerala’s Popular Finance, a finance company in the news for an alleged Rs 2000-crore fraud, is yet another rude awakening for such investors. As investigations progress, shocking details are emerging about the extent of the fraud orchestrated by the promoters, basically, one family that ran the company.

Consider this: the promoters operated 1,760 accounts across different banks, had investments in several countries to which the money raised from local investors was routed and illegally ran many subsidiaries.

And, none of this happened overnight.

The fraud was

Nervous Investors Buy Gold At Record Pace On US Election Fears

October 10, 2020

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Nervous investors have bought more than 1,000 tonnes of gold this year, a record figure equivalent to the entire hoard the Swiss National Bank has stashed away in its vaults.

For centuries people have considered gold a store of value in turbulent times. In 2020 they have been buying it in droves.

Gold exchange traded funds (ETFs) recorded their tenth consecutive month of positive inflows in September for only the third time since the financial crisis. This was despite gold experiencing its biggest monthly price drop since November 2016, falling 3.6%, after reaching a new all-time high in August.

With concerns mounting about the outcome of the upcoming U.S. election and a second wave of coronavirus infections, will the precious metal retain its lustre in the fourth quarter?

Investors certainly believe so. Figures this week from

Keeping Money at Home Can Be Costly for Investors

October 9, 2020

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(Bloomberg Opinion) — Most investors don’t typically get the opportunity to emulate the strategies of the world’s biggest asset managers. The recent announcement that the Norwegian sovereign wealth fund, the world’s biggest with $1.1 trillion, wants to increase its allocation to North American stocks should be a wake-up call for equity holders who ignore overseas shares — with investors from one nation in particular needing to pay attention.

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The tendency for investors to allocate too much of their capital in their home markets is called domestic bias and is a well-known phenomenon. For U.K. investors who’ve stuck with indigenous equities in recent years, this proclivity has cost them dearly.

The U.K. investment industry manages about 8.5 trillion pounds ($11 trillion), more than three-quarters of which is on behalf of local customers, according to figures compiled by the Investment Association, a trade body. For the past five years, the

China funds targeting Ant IPO rake in $9 billion from over 10 million investors

October 9, 2020

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SHANGHAI (Reuters) – Five newly launched Chinese funds targeting Ant Group’s upcoming mega stock listing raised 60 billion yuan ($8.93 billion) cumulatively from more than 10 million retail investors, selling out within days, the funds’ distributor said.

graphical user interface, text, application, qr code: FILE PHOTO: Alipay logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai

© Reuters/ALY SONG
FILE PHOTO: Alipay logo is pictured at the Shanghai office of Alipay, owned by Ant Group which is an affiliate of Chinese e-commerce giant Alibaba, in Shanghai

An average of eight investors placed orders each second during the subscription period, highlighting retail frenzy over Ant’s initial public offering (IPO) despite possible U.S. sanctions against the Chinese fintech giant.

The rush also underscores the marketing clout of Ant’s online payment platform Alipay, the sole third-party distributor of the five mutual funds that threatens to disrupt traditional fund sales models.

Ant , Alibaba Group’s fintech arm, aims to raise about $35 billion in a dual listing in Hong Kong and Shanghai’s STAR

China funds targeting Ant IPO rake in $9 bln from over 10 mln investors

October 9, 2020

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SHANGHAI, Oct 9 (Reuters) – Five newly launched Chinese funds targeting Ant Group’s upcoming mega stock listing raised 60 billion yuan ($8.93 billion) cumulatively from more than 10 million retail investors, selling out within days, the funds’ distributor said.

An average of eight investors placed orders each second during the subscription period, highlighting retail frenzy over Ant’s initial public offering (IPO) despite possible U.S. sanctions against the Chinese fintech giant.

The rush also underscores the marketing clout of Ant’s online payment platform Alipay, the sole third-party distributor of the five mutual funds that threatens to disrupt traditional fund sales models.

Ant IPO-ANTG.HK, Alibaba Group’s BABA.N fintech arm, aims to raise about $35 billion in a dual listing in Hong Kong and Shanghai’s STAR Market, expected in October, in what could become the world’s largest IPO.

The five funds launched on September 25 to raise 12 billion yuan each and

FOREX-Dollar drifts downward as investors cling to stimulus hopes

October 9, 2020

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By Tom Westbrook

SINGAPORE, Oct 9 (Reuters) – The dollar drifted toward a second consecutive weekly loss on Friday, as higher commodity prices and persistent hopes for U.S. stimulus supported investor sentiment and riskier currencies.

Talks have resumed between U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin over coronavirus aid plans, two days after President Donald Trump ended them.

Limited progress kept dollar losses and other majors’ gains modest overnight, but the dollar eased 0.06% against a basket of currencies =USD and it is down 0.3% for the week.

The prospect of stimulus to support recovery in the world’s biggest economy has weighed on the dollar in the short-term by improving investors’ mood and their willingness to buy riskier assets such as stocks and commodity currencies.

Investors are also regarding improving chances of a Joe Biden presidency as increasing the likelihood of stimulus, since Democrats are pressing

Why Cronos Has Too Many Red Flags That Should Scare Investors Away

October 8, 2020

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2020 is not proving very kind for Cronos (NYSE:CRON). The stock is down around by over 30% as the bubble in cannabis stock peaked and faded by March 2019. Back then Cronos Group stock traded at over $20. Altria’s (NYSE:MO) $1.8 billion investment in Cronos on Dec. 7, 2018, set off the bubble.

Today, Cronos has vastly worse prospects than anyone imagined. As shares head toward its 52-week low, why should investors consider investing in the company at all?

Cronos Group Stock Lacks Positive Catalyst

In the second quarter, Cronos reported revenue growth by 29% to $9.88 million. And despite that, its gross margin of negative 30% is a change in the wrong direction. Last year, gross margins were 53%. Still, the revenue of under $10 million for a company with a market capitalization of nearly $2 billion (a

The Top 3 Value Traps Investors Should Avoid at All Costs

October 8, 2020

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Value traps are companies that may seem cheap at first glance, but get progressively cheaper and cheaper until their stock destroys all the wealth investors can put into them. Such phenomena are quite common for companies that enduring considerable declines in their core operations, or are cooking their books to make their business look more attractive.

From a company that fabricated its financials, to another that’s embroiled in insider trading controversy, to another that faces allegations that its technology is non-existent, the stocks all have one thing in common: having fallen from great heights and appearing deceptively undervalued. Let’s look at why these companies are value traps and why investors should avoid them.

Image source: Getty Images.

1. Luckin Coffee

Luckin Coffee (OTC: LKNC.Y) had high hopes of disrupting the Chinese coffee industry. Founded in 2017, the company began on a journey of rapid expansion across China, opening nearly 5,000