In terms of high-risk, potentially high-end plays, Blackrock is very volatile depending on how the financial market prices, which “is going to effect earning prices up and down," Gerry said
"But here's a company that started for 20 years, fixed income, now becomes something that is both equity and fixed income, both passive and active, dramatically changed," he said.
"You've had a 30-year bull market in bonds, the probability of that is not so great. And now going forward it's going to be different and they're going to be a major player—it speaks to their management and capability," Gerry said.
With conversation heating up over the municipal bond market, on both ends of the spectrum, "the single most important thing about the muni market in the last ten weeks is it shows you what's happened in the financial world by the creation of ETFs [exchange-traded funds] and open-end mutual funds. And what can happen when liquidity and perception changes," he said.
After appearing on the show, Gerald Kaminsky, continued the discussion off-camera, about another high-risk but potentially high-end stock, TeeKay Shipping.