BlackRock Please Read Carefully

BlackRock (BLK) reported impressive increases in earnings and assets under administration which should mean more fee income overtime. But as with all financial institutions a careful read is prudent.

Much of the asset inflow is parked in highly liquid money market funds. Not surprising in today's environment. I am sure that Blackrock hopes to convert this to something with a higher fee schedule and more longevity.

At the same time Laurence D. Fink, Chairman and CEO of BlackRock stated "Yet, low interest rates and a weaker dollar suggest increased allocations outside the U.S. over time, as well as faster adoption of new strategies, including liability driven investing, the increased use of multiple asset class products and the mainstreaming of alternatives. This outlook reinforces our strategic focus on investment performance, globalization and product diversification, client service and independent advice."

Pretty well covers all the bases. We are going to globalize and diversify products. These are all very general blandishments that do not offer any particular insights into BlackRock's thinking. I also would like to note that he sees the mainstreaming of alternatives. An oxymoron type of a comment. With everyone piling into liquid treasuries and money market style investments I am having some trouble spotting the trend where alternatives are being mainstreamed.

BlackRock you guy's are very smart but you have to explain a little more. Specifics would be nice.