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’
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Blackstone stock is down 25% from its high last year. It has been caught in the recent market turbulence but it is the largest retail beneficiary from the uptake in their exposure to liquid private markets.
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 21st. The stock has recovered roughly 7.0% in one month and now trades at a PE multiple of 14.20. Sechan added:
They have created a lot of perpetual vehicles and while Blackstone trades at a slight premium compared to the group, it is still a very strong blue-chip company to add to or initiate a new position.
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.