The world’s largest asset manager says investors may want to think twice before betting on the farm on the American markets.
In an interview with CNBC TV-18Ben Powell, the head of the Middle East and APAC at the Blackrock Investment Institute, says he looks at other investment areas in the event of uncertainty in the United States because of the weakness of the dollar and commercial tensions.
Powell says,
“The presence of all your eggs in one basket, even a beautiful basket like the United States, is more dangerous.”
The analyst says that Blackrock is looking into emerging markets such as India as potential candidates who outperform the United States, with reference to strong workforce growth, technology gains, increasing geopolitical importance and favorable demographic trends.
“We love India, yes. We believe that India is the right side of many of these huge tectonic transformations that we see. So India, in terms of political geography … it is clear that India is of course a kind of countries and economics on the continent, and everyone wants to be a friend of India.
I still think, if I can say that, what some foreigners still fail to understand is progress in the amazing technological productivity that we have seen in India during the past years. “
However, Powell also admits that Blackrock is still overweight in the United States and does not reduce the possibility that the American stock market is higher from here, noting that artificial intelligence (AI) can be “Megaforce”, which can serve as the back wind that compensates for other concerns in the market.
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