The last week of market gyrations has been "disheartening" for Robert Kapito.
The president of BlackRock, with $3 trillion in assets under management, told CNBC Friday his company has talked to over 20,000 clients, "trying to make sure they remain calm and focus on finding great opportunities in this market."
It’s disheartening, he said, "because we’re hearing the same thing — there’s no growth strategy in America right now, there‘s no leadership, there’s no plan to put people to work."
However, BlackRock is still advising clients to have 60 percent of their portfolios in stocks, 20 percent in corporate bonds and 20 percent in commodities.