BlackRock's Laurence Fink is not concerned with the current "soft patch" in the U.S. economy or the Dow industrials' fall below 12000.
In the long-term, he believes dividend-paying stocks will be a better investment than bonds.
"I'm not worried about a short-term movement," the chief executive of the mutual-fund and exchange-traded fund company told CNBC Friday. Looking five to 10 years down the road, investors will gain if they own large-cap, global stocks that pay dividends — even under a bearish scenario.
If anything, under that scenario, "I’d be a bigger buyer today. But I’m not focusing on a quarterly move, I’m focusing on a five- to 10-year horizon." Fink did not name particular stocks.
Once the Federal Reserve's quantitative easing program, or QE2, ends this month he expects private sector demand to pick up for U.S. Treasury bonds. "There is a need for bonds more than ever before, especially if you’re converting your pension plan from a defined benefit to a defined contribution" plan, he said.
Fink sees no reason for a QE3.