BlackRock’s Fink Says Buyback Shows Stocks Are Cheap
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Laurence D. Fink, chairman and chief executive officer of BlackRock Inc., said the money manager’s repurchase of stock from Barclays Plc demonstrates his belief that equities are cheap compared with bonds.
“These are scary times, I’m not trying to suggest they’re not, but I think because they’re scary times, it’s a good entry level to be a long-term investor,” Fink said today at the company’s annual meeting in New York. BlackRock’s buy back of shares valued at $1 billion from Barclays is “a very good example of the relative cheapness of equities versus interest rates,” he said.