Who Will Replace Larry Fink?

A recent article in Institutional Investor discusses the future of BlackRock with respect to the firm’s succession planning and points raised in a January memo to employees from Larry Fink, the firm’s 66-year-old chairman and chief executive. The article reports that in his memo Fink “laid out the long-simmering pressures facing the industry” and predicted “plenty of turbulence in BlackRock’s future.” He wrote, “Last year, when active management, including the hedge fund industry, was expected… Read More

To Bolster Returns Large Investors Will Have to Come Up the Risk Curve

Gone are the days when a conservative bond portfolio will provide a decent return. Low interest rates and a sluggish economy are forcing investors to accept higher risk to get the same returns they would have twenty years ago (by buying and holding investment-grade bonds). The Wall Street Journal recently reported that research conducted by Callan Associates, Inc. (which advises large investors)  shows that in order to make a 7.5% return today, a portfolio’s bond… Read More