Salient to Investors:
Laurence D. Fink at BlackRock says:
- Investors should get out of cash and low-yielding bonds and buy high-quality stocks, ETFs and higher-income products.
- The economy is a year away from being more robust.
- The US banking system is far better than others, while housing crisis is 90 percent behind us.
Chris Leavy at BlackRock said equities are the place to be for the next several years, and will return 9 – 10 percent a year because of dividends and buybacks and modest profit growth.