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Rating:Doll Gives Reporters a Peek into His Crystal Ball Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, January 6, 2010

Doll Gives Reporters a Peek into His Crystal Ball

Reported by InvestmentWires Staff, 

Bob Doll, BlackRock's vice chairman and chief investment officer, on Wednesday morning gave his predictions for the year and also took a stab at making a forecast for the decade. The press briefing was the first one hosted by the New York City-based asset manager in its new headquarters. (As previously reported by The MFWire, BlackRock in November moved its headquarters to 55 East 52nd St., which is across the street from the old one.)

Bob Doll talks to reporters after his presentation Wednesday morning at BlackRock's new headquarters.

Twenty-seven journalists attended the briefing.

Below are his 10 predictions for 2010:

  • 1. The U.S. economy grows above 3 percent in 2010 and outpaces the G-7
  • 2. Job growth in the US. turns positive early in 2010, but the unemployment rate remains stubbornly high.
  • 3.Earnings rise significantly despite mediocre economic growth.
  • 4.Inflation remains a non-issue in the developed world.
  • 5.Interest rates rise at all points on the Treasury curve, including Fed Funds.
  • 6. U.S. stocks outperform cash and treasuries, and most developed markets.
  • 7. Emerging markets outperform as emerging economies grow significantly faster than developed ones.
  • 8. Healthcare, information technology and telecommunications outperform financials, utilities and materials.
  • 9.Strong free cash flow and slow growth lead to an increase in M&A activity.
  • 10.Republicans make noticeable gains in the House and Senate, but Democrats remain firmly in control of Congress.

    Last year, Doll was 11.5 out of 12 with his predictions.

    At Wednesday's press briefing, he also offered his forecast for the decade. Among his predictions: recessions will occur more frequently during this decade compared to only once a decade in the last 20 years.  

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