BlackRock's Rick Rieder said the market has not bottomed, but he is selectively picking up some stocks that are now at a "once in a lifetime" valuation.The market needs to see a the rising number of coronavirus cases begin to slow down in order to recover.
BlackRock's Rick Rieder said it's time to carefully pick up some stocks based on crushed valuations, but the market is not likely bottoming. "It's hard to see where you're going to see them waving the checkered flag that it's all clear to get back in the market until there's some clarity around when that [virus infection] curve flattens ... and people get back to work," Rieder, BlackRock's global CIO of fixed income, told CNBC. Analysts are looking for signs the number of new coronavirus cases are peaking, but that is not expected for more than a month or several months at least.
"Today, I like mortgages and very selective equities, and I think we're going to let the credit market work its way through for a period of time," he said. "The options market and volatility markets are allowing you to get some equity beta in some attractive ways."
Yeah, for wealthy people like you that have lots of cash laying around, not for ordinary people who lost third of their 401K in 2 weeks! ORDINARY PEOPLE DON’T HAVE MONEY TO BUY THEIR NECESSITIES AT THIS TIME, FORGET THE STOCKS, but I’m sure you don’t care!
Market was at this level one year ago, and before that it was lower. Ya basic.
Absolutely a good time to buy
Not for the the Main Street investor! People have lost many thousands of dollars at this point. They have no money to spend on bargains in the stock market! GET REAL!!
People are throwing their retirement away over the flu. It’s sad
it's a joke? Respect for all...
You mean another chance to buy overvalued stock🤦
Interesting because I was alive in 2008-2009. That wasn't once in a lifetime? Ford at $1? Onecity
How the hell is selling ? Find one of those people, should be relatively eay with mkt down 10% today
They just said that in 2008! Are lifetimes now every decade!
Once in a lifetime because so many non-essential corporations are going out of business.
Lol
Nope!
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »