BlackRock $85 Billion Manager Says Stock Pickers' Time Has Come
- Dan Chamby is buying shares and reducing large cash holding
- Central banks' waning influence over markets seen as positive
How Investors Can Stave Off Losses During Volatility
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Dan Chamby, who manages $85 billion for BlackRock Inc., says central banks’ loss of power over markets means old-style stock investors can get back to what they do best.
Chamby is buying again after having 21 percent of holdings in cash at the end of last year. He says the turmoil in share markets is natural as traders numbed by years of stimulus relearn how to price risk, and instead of agonizing about monetary policy makers’ next steps, he’s poring over economic data and looking for bargains. He’s going against many investors, and colleagues within BlackRock, with bets that oil will rebound.