Buying Blackrock for the fact that it relies heavily on steady fees for its business model. Also, the price-earnings-ratio is quite nice, considering the interest environment. The decisive factor however is that Blackrock controls about 50% of the ETF market, resulting in immense voting rights. Even though I do not think, that this power is systematically abused, I can not imagine, that there is no subconscious behavior favoring Blackrock. This appears to be a strategic advantage. Unfortunately, there was not enough cash for the purchase of the aspired 5%points buy of Blackrock. I will compensate this by buying another 31 Blackrock shares as soon as sufficient cash is available.
Considering the macroeconomic environment, it was tempting to keep the cashflow from the Alphabet sale as cash. This is however not the primary policy of this Wikifolio. Also I do believe that with the improving Brexit-perspective and the dawning end to Trump's presidency (be it by impeachment of by failed reelection) there is considerable opportunity in the market.mehr anzeigen