BlackRock’s Stattman Joins Miller Betting on Largest Stocks

Dennis Stattman, who manages $65 billion in global equities and bonds for BlackRock Inc., is betting the biggest stocks will outperform smaller rivals and Treasuries as consumers pare spending.

Companies such as Johnson & Johnson and Microsoft Corp. have global franchises and strong cash flow and pay dividends that can exceed the yield on 10-year U.S. Treasury notes, said Stattman, whose BlackRock Global Allocation Fund returned 7.1 percent a year over the past decade, fourth-ranked among peers by Morningstar Inc.