Rob Sechan: this is the stock to benefit from the volatility

NewEdge Wealth's Rob Sechan explains why he bought Blackstone Group.
The investment management firm is expected to report Q1 results next week.
Shares of Blackstone Group Inc have recovered roughly 7.0% in one month.

We want to position ourselves to benefit from the ongoing volatility in the U.S. equities, says Rob Sechan – the co-founder and managing partner of NewEdge Wealth.

Sechan’s comments on CNBC’s ‘Halftime Report’

A great to way to do that, as per Sechan, is to hop onto Blackstone Group Inc (NYSE: BX) – a stock he bought on Wednesday. Explaining why on CNBC’s “Halftime Report”, he said:

Separately, MarketRebellion.com’s Pete Najarian on Wednesday also forecast markets to remain volatile in the coming months.

Blackstone trades at a slight premium

Blackstone is expected to report its financial results for the first quarter on April 21^st. The stock has recovered roughly 7.0% in one month and now trades at a PE multiple of 14.20. Sechan added:

Last week, anonymous sources reported Blackstone to be interested in bidding for Italy’s infrastructure group Atlantia. The investment management company is working with the Benetton family on that front.