Private equity would jump at the reliable cash flow as well as the disruptive potential of the $24 billion TAMP’s investor-facing technology.
The January Effect has compelling statistical weight but the firm notes that a downturn is roughly as likely as a Bernie Sanders presidency.
BlackRock argues that the macro environment has undergone “a big shift” from last year, when central banks made an unusual dove turn to revive growth.
Some 22% of the typical S&P 500 company sits in the portfolios of the Big Three fund complexes, up from 13.5% in 2008. Weird consequences follow.