Bloomberg reportedThe asset manager's boss described a wave of bankruptcies, vacant planes, and pressure to raise taxes in a private call with a wealth-advisory firm's clients this week, Bloomberg said.
Fink suggested that the pandemic could elevate people's concerns about public transport, hitting industries such as airlines. His fellow CEOs aren't planning any international travel this year as far as he knows, he added.GOLDMAN SACHS: Traders are reaping unusually large profits from earnings-related stock trades. Here are 15 picks for the remainder of the season.
Restaurants could struggle to attract enough customers to stay afloat if social-distancing measures continue, Fink said. Mass unemployment and economic disruption could also fuel nationalism and heighten geopolitical tensions, he added. Given the pain to come, Fink questioned whether the Federal Reserve should provide more economic support. He also warned that the government may have to raise taxes to repay theFink's negative outlook strikes a contrast with the recent performance of the US stock market. Both the Dow Jones Industrial Average and the S&P 500 recently completed their
the largest hedge fun in the world had to scare everybody now..
Enough with the fear tactics man.. Larry Fink can go have a fucking seat somewhere and stay away from all media
wow Larry very insightful!
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Source: BusinessInsider - 🏆 729. / 51 Read more »
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