The investor’s psyche will not be the same again

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Larry Fink, CEO of the American investment giant, “Black Rock”, said that the economy will eventually recover from the consequences of the outbreak of the Corona Virus on its various sectors, but he pointed out in an internal message to the company employees that the investor’s psyche will not return as it was and a working approach. Business sectors and consumer habits all of this will change.
He said that the pandemic that overshadows the world today has caused people to re-evaluate supply chains “at the right time” and to rely on air travel.
He wrote: “In my years of work in the financial sector and up to 44 years, I have never seen a situation similar to what we face today.” He added that despite the difficult situation that we are experiencing today, he is confident of the ability of the economy to recover and grow again and in stable steps.
He attributed the reason behind his optimism that this time the situation is devoid of obstacles that could hinder the economy from returning to growth, unlike during the financial crises.
Fink and his company are playing a vital role today in the US response to the economic consequences of the pandemic, as the company, which ranks as the largest global asset management company, manages three separate debt-purchase programs on behalf of the US Federal Reserve. In addition, the company provides advice to the US president about the support the US administration intends to provide to companies affected by the Coronavirus.

Source
Gulf

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