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Heidi Richardson

Heidi Richardson is a Global Investment Strategist for BlackRock. She is responsible for relating the Investment Strategy Team’s research and investment views to a wide variety of investors. She joined the firm in 2010 with twenty three years of active investment experience across both equities and fixed income. She writes about how to implement BlackRock’s best investment ideas.

Disclosure: The content Market Realist publishes should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of BlackRock.

More From Heidi Richardson

  • Why the NASDAQ’s 5,000 Level Is Not Like the Dot Com Bubble
    Macroeconomic Analysis

    Why the NASDAQ’s 5,000 Level Is Not Like the Dot Com Bubble

    The NASDAQ hit the all-important 5,000 level on March 2, 2015, for the first time after the dot com bubble burst of 2000.

    By Heidi Richardson
  • uploads///Japans Burgeoning Debt Poses a Threat to the Economy
    Macroeconomic Analysis

    Why Japanese Stocks Could Falter

    In recent years, Japan’s government spending has soared. The aggressive fiscal stimulus led to a debt level that is now more than two times that of Japan’s GDP.

    By Heidi Richardson
  • uploads///Consider Currency Hedged ETFs for Better Returns as Dollar Could Appreciate Further
    Macroeconomic Analysis

    How a Stronger Dollar Affects Your Investments

    Most analysts feel the dollar could strengthen further. You may consider currency-hedged ETFs while investing internationally.

    By Heidi Richardson
  • uploads///Emerging Market ETF Fund Flows Have Picked Up in the Last  Months
    Macroeconomic Analysis

    Emerging Market Stocks Are Gaining Momentum

    While developed market stocks (EFA) are being supported by quantitative easing programs, emerging market stocks could see some organic growth going forward.

    By Heidi Richardson
  • uploads///Wage Growth Has Been Stagnant in Japan
    Macroeconomic Analysis

    Structural Reforms in Japan Could Support Stocks

    Japan’s Prime Minister Abe has brought about changes in the labor market, and female labor force participation is now on the rise.

    By Heidi Richardson
  • Financials

    Japanese corporates’ increased share buybacks could support markets

    Japanese companies are more shareholder-friendly, as the government pushes to strengthen corporate governance. Stock buybacks have reached their highest level in six years in an effort to boost return on equity.

    By Heidi Richardson
  • uploads///Utilities and Telecom Sectors Have the Highest Leverage
    Macroeconomic Analysis

    How a Rate Hike Could Affect High-Leverage Sectors

    Industrials, utilities, and telecommunications have much higher leverage, as these sectors have massive capital needs.

    By Heidi Richardson
  • uploads///Facebook most prefered
    Macroeconomic Analysis

    Facebook Has Proven to be a Game-Changer for the NASDAQ

    Facebook has proven to be a game-changer by introducing the world to the concept of social networking, something quite unheard of in the Y2K era.

    By Heidi Richardson
  • uploads///Holdings of IYW
    Company & Industry Overviews

    Analyzing A Way For Investors To Play The Tech Sector

    When to invest? We think US tech valuations look reasonable now. You can also look to market pullbacks for other attractive entry points.

    By Heidi Richardson
  • uploads///Holdings IYW
    Macroeconomic Analysis

    Mature Tech Stocks Are Likely to Be a Good Value Play

    Mature tech stocks are likely to be a good value play this year as the US economy strengthens and both consumer and business spending receives a boost.

    By Heidi Richardson
  • uploads///Japans external vs internal debt
    Macroeconomic Analysis

    Burgeoning Debt In Japan Is A Major Cause For Concern

    Burgeoning debt in Japan could lead to an even weaker yen.

    By Heidi Richardson
  • uploads///PE ratios of NASDAQ
    Macroeconomic Analysis

    Strong Earnings Growth Helps Keep NASDAQ Valuations Attractive

    The promise of technology stocks has translated into solid deliverables with strong earnings growth.

    By Heidi Richardson
  • uploads///Apple
    Macroeconomic Analysis

    NASDAQ’s Dominant Players Have Changed the Index’s Dynamics

    The NADAQ’s dominant players have changed drastically in 15 years. The top ten stocks today have only three stocks in common with the NASDAQ of 2000.

    By Heidi Richardson
  • uploads///IYW hOLDINgs
    Macroeconomic Analysis

    How You Can Own Mature Tech Stocks

    Mega- and large-cap tech stocks make up ~79% of the iShares U.S. Technology ETF (IYW), giving you great exposure to mature tech stocks.

    By Heidi Richardson
  • Financials

    Why earnings momentum is likely to support Japanese equities

    Earnings momentum – Worries about the impact of a new consumption tax led many Japanese companies to lower their earnings guidance for the year. Since then, a better-than-expected outcome has set the market scrambling to reprice.

    By Heidi Richardson
  • uploads///EWJ
    Financials

    Investing in Japan: Learn to play in the land of the rising sun

    If you’re looking for a simple way to invest in Japan, we suggest keeping it simple with a low cost ETF. The iShares MSCI Japan ETF (EWJ) provides diversified access to large- and mid-cap Japanese stocks.

    By Heidi Richardson
  • uploads///amount of cash held tech companies
    Macroeconomic Analysis

    Tech Strength: Strong Balance Sheets and Cash Positions

    The primary reason for tech strength is the fact that most tech giants have effective currency hedging techniques in place.

    By Heidi Richardson
  • uploads///defensive sector
    Company & Industry Overviews

    Why Cyclical Momentum Favors The Tech Sector

    Cyclical momentum favors the tech sector. Economic growth favors cyclical stocks like technology. The tech sector invests in a lot of R&D.

    By Heidi Richardson
  • uploads///balkan grexit contagion
    Macroeconomic Analysis

    Should Investors Be Concerned about a Grexit?

    Grexit might not precipitate a financial contagion, but the possibility of a political contagion is very likely. Spain and Italy may decide to follow suit.

    By Heidi Richardson
  • uploads///dollar strenghtend over last year
    Macroeconomic Analysis

    Receding Currency Headwinds Favor US Tech

    Although the valuation multiples for the tech sector are higher than its historical averages, the prices are supported by robust earnings growth.

    By Heidi Richardson
  • uploads///European and german equities
    Macroeconomic Analysis

    Why Investors Should Look to the Eurozone for Value

    Investors should look to the Eurozone for value. European equities (FEZ) have been benefiting from the recent $1.1-trillion stimulus.

    By Heidi Richardson
  • uploads///Japan Election Results
    Macroeconomic Analysis

    Shinzo Abe Wins Japan’s Snap Elections By A Landslide

    Heidi Richardson takes a closer look at Abenomics in light of the election. Shinzo Abe won Japan’s snap election.

    By Heidi Richardson
  • uploads///Mature tech companies have given great returns over the last six years
    Macroeconomic Analysis

    Why Tech Stocks Have Run Up for the Last Six Years

    Despite the fact that tech stocks have run up these last six years, they still look cheap compared to some of the defensive sector stocks.

    By Heidi Richardson
  • uploads///etfprices
    Macroeconomic Analysis

    Is It Raining Gold for Brazil?

    Brazil’s performance in the 2016 Rio Olympics and worldwide speculation about a Fed rate hike might have a role to play in the country’s stock market performance in fiscal 2016.

    By Heidi Richardson
  • uploads///fdi
    Macroeconomic Analysis

    Will Brazil Investments Rise and Add Momentum to Valuations?

    Now that Brazil’s political scenario has improved and commodity prices have become more stable, the country is expected to attract investors again.

    By Heidi Richardson
  • uploads///householdspending
    Macroeconomic Analysis

    What Are Brazil’s Key Economic Indicators Insinuating?

    Brazil’s GDP fell for the ninth consecutive quarter in 2Q16.

    By Heidi Richardson
  • uploads///interestrates
    Macroeconomic Analysis

    Does Brazil’s Industrial Production Data and Selic Rate Ring a Bell?

    First the good news: After two years of a deep recession, the economic fundamentals of Brazil are showing signs of bottoming out. Industrial production has started to turn, and so have sentiment indicators, with business confidence indexes leading the way (source: Bloomberg). Particularly encouraging are the improvements in the inflation trend. Prices have been easing […]

    By Heidi Richardson
  • uploads///Earnings of Top Indian Shares Have Been Flat in the Last Few Quarters
    Macroeconomic Analysis

    Can Indian Corporate Earnings Take a Turn for the Best?

    Are Indian corporate earnings likely to turn around? Earnings have been flat since late 2014.

    By Heidi Richardson
  • uploads///India Was One of the
    Macroeconomic Analysis

    India: Once One of the Fragile Five, Now One of the Bright Spots

    Fragile Five is a term coined in August 2013 to represent emerging market economies, including India, that had become too dependent on foreign investments to finance their account deficits.

    By Heidi Richardson
  • uploads/// japan
    Company & Industry Overviews

    Why Japanese Stocks Look Attractive as Valuations Drop

    Japanese (EWJ) (SCJ) equities have become attractive thanks to relatively low valuations after a 20% fall from highs recorded in August last year.

    By Heidi Richardson
  • uploads/// quality cs
    Company & Industry Overviews

    Why Investors Should Focus on High Quality Growth Companies

    A portfolio with a focus on quality companies is likely to have lower volatility and could offer stable returns compared to a broader index.

    By Heidi Richardson
  • uploads/// bonds
    Company & Industry Overviews

    How Short Duration Bonds Can Provide Stability

    Short-term bonds can potentially offer stability to a portfolio given today’s historically low yields and impending rate hikes.

    By Heidi Richardson
  • uploads///Floating Rate Bonds Outperform Treasuries in a Rising Rate Scenaro
    Macroeconomic Analysis

    How You Can Hedge Interest Rate Risk as Rates Rise

    Investors can hedge interest rate risk by holding floating rate bonds. As interest rates rise, consider investing in long-dated Treasuries.

    By Heidi Richardson
  • uploads///European Bank Exposure to Greece
    Macroeconomic Analysis

    Why Greece Is Not a Big Concern for Europe

    Heidi Richardson recently visited 10 European countries over four weeks, and observed many signs supporting a currency-hedged exposure to European stocks.

    By Heidi Richardson
  • uploads///caddbbeddadedfef
    Macroeconomic Analysis

    The Depreciating Yen Has Improved Japanese Profitability

    The profitability of Japanese stocks has improved since late 2012, from ~4% to above 8%. However, profitability hasn’t hit the highs of the pre-crisis period yet, and it is slightly lower than American stocks.

    By Heidi Richardson
  • uploads///Japanese Stocks Seem Cheaper than their American Counterparts
    Macroeconomic Analysis

    Japanese Stocks Are Inexpensive despite the Rally

    Currently, Japanese stocks are trading at a discount of 50% over the S&P 500. Historically, the discount has been slightly less, at ~44%.

    By Heidi Richardson
  • uploads///bfadeeabfccebac
    Macroeconomic Analysis

    Will Japan’s Strong Performance Continue?

    Japanese stocks are nowhere close to the levels seen in the late 1980s. Japan’s Nikkei 225 Index peaked at ~40,000 in 1989, but since then it has been a painful ride for the Japanese.

    By Heidi Richardson
  • uploads///greek debt timeline
    Macroeconomic Analysis

    The Seemingly Never-Ending Greek Debt Saga at a Tipping Point

    The seemingly never-ending Greek debt (GREK) saga continues to play out, complete with twists, turns, and obstacles à la typical potboiler.

    By Heidi Richardson
  • uploads///Cyclical Stocks Have Higher Beta Than the Defensive Ones
    Macroeconomic Analysis

    Which Sectors Could Benefit as the Economy Improves?

    Defensive sectors have steady earnings that usually grow slowly. Cyclical sectors have volatile earnings, but they can see high growth in earnings when the economy improves.

    By Heidi Richardson
  • uploads///Housing starts
    Macroeconomic Analysis

    Tech Stocks Would Benefit as the Economy Improves

    An improving economy means that people have more money to spend on discretionary items like high-end electronics, fancy restaurants, and luxury cars.

    By Heidi Richardson
  • uploads///India and Indonesia Are Laggards Among Emerging Markets in
    Macroeconomic Analysis

    Which Emerging Markets Have Underperformed in 2015?

    In 2015, the tables have turned, and India and Indonesia are now lagging behind other emerging markets.

    By Heidi Richardson
  • uploads///currency hedged etfs
    Macroeconomic Analysis

    Points to Remember When Investing in Europe

    This article discusses three key points to remember when investing in Europe (VGK) (EZU).

    By Heidi Richardson
  • uploads///European Stocks Have Surged Partly Because of a Weaker Euro
    Macroeconomic Analysis

    How a Weaker Euro Helps European Stocks

    European stocks have benefited from the weak euro. Not only do exports look attractive to Americans, large-cap European companies also gain from currency translation.

    By Heidi Richardson
  • uploads///Eurozone equity vs bonds
    Macroeconomic Analysis

    Where to Find Yield in Today’s Low-Yield World

    While the risk-averse investors are resorting to US Treasuries, which provide higher yields, others are looking at stocks that pay high dividends for yield.

    By Heidi Richardson
  • uploads///European Government Bond Yields Are Extraordinarily Low
    Macroeconomic Analysis

    Why Some European Bond Yields Have Turned Negative

    Yields have been dropping in this period, leading investors to prefer government bonds over stock, especially the safer ones, including the German Bunds.

    By Heidi Richardson
  • Not another Bubble: Why the NASDAQ is a Different Index Now
    Macroeconomic Analysis

    Not another Bubble: Why the NASDAQ is a Different Index Now

    The better-diversified NASDAQ is less prone to risk than the NASDAQ of 2000. The NASDAQ is a different index now.

    By Heidi Richardson
  • uploads///Fourth quarter capital expenditure comparison
    Macroeconomic Analysis

    Tech Companies Likely to Benefit from an Improving Economy

    The main assets of the technology sector are human resources. So, capital expenditure for tech companies could involve money spent on innovation and R&D.

    By Heidi Richardson
  • uploads///Dividend yield comparison
    Macroeconomic Analysis

    A Strong Balance Sheet Could Lead to Better Returns

    With a strong balance sheet, a mature tech company can afford to pay a higher dividend, buy back shares, or invest in capital expenditure.

    By Heidi Richardson
  • uploads///Tech companies are less leveraged
    Company & Industry Overviews

    Relatively Low Leverage Gives Tech Companies Flexibility

    The debt-to-equity ratios of several top tech companies suggest that the broader markets are much more leveraged than tech stocks.

    By Heidi Richardson
  • uploads///Mature tech companies posted robust earnings in Q
    Company & Industry Overviews

    Mature Tech Companies Report Robust Earnings

    Mature tech companies have a lot of cash in their coffers. Companies such as Apple reported 4Q14 net income of ~$18 billion—its best ever.

    By Heidi Richardson
  • uploads///Japanese stocks are slightly cheaper than other developed market stocks
    Macroeconomic Analysis

    Why Japanese Stock Valuations Could Be Justified

    Japan looks cheap compared to other developed markets. Japanese stock valuations can be justified if the “three arrows” are used prudently.

    By Heidi Richardson
  • uploads///Annualized Changes in GDP Over the Previous Quarter
    Macroeconomic Analysis

    The Japanese Economy Grew In 4Q14, Mainly Due To Exports

    The worst is over for the Japanese economy in the near term, economists say. But Abe still faces a difficult hurdle of wage growth along with inflation.

    By Heidi Richardson
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