Fink: Ignore ‘Fast-Money’ Hedge Funds Selling Tech Stocks

Apr 23 2014 | 9:25am ET

The world’s biggest money manager doesn’t think much of the hedge funds he blames for selling down technology stocks.

BlackRock CEO Laurence Fink said the sell-off was driven by “fast-money hedge funds” with oversized positions and did not reflect the true value of the battered shares. Indeed, he said, it offered an opportunity to buy-and-hold investors to increase their stakes.

“Long-term investors have not been spooked by this volatility, but shown a remarkable resilience in attitude,” he told the Financial Times. “Much of the volatility was fast-money hedge funds repositioning their trades.”

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...