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BlackRock, Inc. (NYSE:BLK) was among the stocks Jim Cramer discussed on Mad Money as he addressed investors’ recent overblown worries and growth stocks stuck in bear-market territory. Cramer mentioned the stock during the episode and remarked:
How many stories did we read about how private credit, remember that, you had to learn about that, was the tick, tick, tick ticking hydrogen bomb that was going to go off right here, okay? We extrapolated the problems of one firm, Blue Owl, to all the other firms, Apollo, Ares, KKR, Blackstone, and we took everything down. Hedge funds and the media scared you every day, arguing that this trillion-dollar business was incredibly dangerous…
I think many of these portfolio companies will have slowing sales, but since they’re private, we won’t hear about it. The bears talked about this, like it would bring down the entire private credit edifice, turning the whole group into roadkill… But guess what? Hasn’t happened… And some of these private credit situations are better than others. BlackRock has good private credit if you insist.
Photo by Artem Podrez on Pexels
BlackRock, Inc. (NYSE:BLK) is a global investment manager that offers portfolio management, mutual funds, ETFs, hedge funds, and alternative investments. The firm provides risk management and advisory services, and invests across equities, fixed income, real estate, and alternative markets.
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