BlackRock Vice Chairman Bob Doll tells CNBC that, while the economy isn’t good, “some [analysts] have gone too far to the negative side,” and says that those analysts who have estimated $40 in per-share S&P 500 earnings for 2009 “are going to have to raise their numbers.” “Two months ago, it looked like a black hole,” Doll said. “Now, we have a much more balanced picture.”
Fortune asks the million dollar question: “Have we hit the bottom, or will we resume our downward slide?” To try to find the answer they tap a number of investment experts, including Charles Schwab’s CIO Jeff Mortimer, BlackRock’s vice chairman Bob Doll, Doug Noland of the Federated Prudent Bear fund and GMO chairman Jeremy Grantham.
Don’t expect the economic news to get better anytime soon — but there are opportunities to make money in this market. That’s what three top strategists — Ed Hyman of ISI Group, Bob Doll of BlackRock, and Bill Gross of Pimco — told Consuelo Mack in an exclusive interview on WealthTrack this week.