Down Big in 2022, Are These 2 Leading Asset Managers Now Buys?
The current bear market is a double whammy for asset managers. Their assets under management (AUM) are down because of the decline in the value of the investments that they hold, and because customers will pull money out of the market, leading to outflows that further exacerbate the decline in AUM.
But this same leverage to share prices that hurts these stocks in a bear market means that they can rebound strongly when the market turns the corner. Two industry-leading, world-class asset managers, T. Rowe Price Group (NASDAQ: TROW) and BlackRock (NYSE: BLK), seem like good bets on a recovery, and the sell-off looks like an opportunity to buy shares on the cheap.
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Source Fool.com
