Bob Doll of Nuveen Asset Management says they “expect equities will outperform bonds over the next six to 12 months, although the ride is likely to be bumpy” in a recent Investment News piece. He describes bearish arguments as “overly negative,” noting that under current conditions “it would hardly be surprising to see equities and other risk assets lagging, but they are not.” He offers a more positive view: “The risk of a global recession appear low, and we think the world economy is more likely to accelerate rather than slow next year.”
Nuveen’s Bob Doll says this bull market and economic recovery has been the least believed of his career. But he says that has made for an excellent investment environment — and he doesn’t think we’re done.
A stronger dollar and falling oil prices tend to help the economy, but right now those two factors aren’t helping stocks, Nuveen’s Bob Doll says.
While many people are wondering whether the bull market is running out of steam, Jim Paulsen and some other top strategists think it has a ways to go.
Heading into 2014, Nuveen’s Bob Doll sees growth strengthening and a good year — though not as good as 2013 — for stocks. Doll writes for Barrons that he expects the US economy to grow at a 3% clip in 2014, with growth strengthening thanks to a “litany of hopeful signs includes the housing recovery, falling oil prices, acceptable job growth, easing lending standards, low inflation, all-time high net worth, rising capital expenditures, less fiscal drag, and improving non-U.S. growth.” He thinks it’s likely that stock market gains will rely on earnings growth after the multiple expansion we’ve seen in […]