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COMING UP:Share Opener Variant 3



>> He's part of President Trump's business advisory council. Was once considered to become Treasury Secretary under President Obama, while still building BlackRock, the company he founded nearly 30 years ago into the world's biggest manager of other people's money. And despite his Wall Street to Washington connections, Larry Fink warning investors Thursday of a stock market that's become way too hot.
Trevor Honeycutt covers the money management industry for Reuters.>> BlackRock has 5 trillion in assets, and they are very diversified. So they have money in stocks, bonds, and all kinds of things. And Larry has big influence on the markets. Larry Fink has been one of the few big market voices who has argued that the rally that we've seen since the November election of US president Donald Trump.
He thinks it's going too far.>> The stock market has surged 10% purely on talk of tax reform, infrastructure spending, and major deregulation. But has largely ignored the lack of progress on most of these. And that's not the only thing the market is overlooking. Fink telling CNBC Thursday that based on what he sees and hears, the economy will be lucky if it grows by a paltry 1.5% this quarter.
>> He has relationships with governments and with policy makers around the globe and with business leaders. So his view is well sought after in terms of who are the people that he's talking to? What do they think about the economy? What do CEOs think about the economy? He's talking to those people, and to global leaders.
And so he has a different sense than most people about what's actually taking place.>> Fink not alone in sounding the alarm. Influential investors like Jeffrey Gundlach and Bill Gross both saying the stock market is too rich. But Fink's warning even more notable since he once argued investors should put all their money into stocks, an enthusiasm he's clearly rethinking.