BlackRock Keeps Soaking Up Wall Street's Cash
This has been a year that most investors would like to forget. It has been marred by high volatility across assets, driven by inflationary pressures, central banks aggressively raising interest rates, and geopolitical uncertainty.
Volatility has weighed on companies like BlackRock (NYSE: BLK), which makes money as its clients make money. Despite falling asset prices, BlackRock keeps soaking up Wall Street's cash and saw strong demand for its investment offerings in the third quarter. The asset manager has navigated a challenging market environment well and could be an excellent stock to buy on the dip.
BlackRock creates and manages investments for clients and is the world's largest money manager, with nearly $8 trillion in assets under management (AUM).
Source Fool.com
