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BlackRock Senior Advisor Bob Doll on the outlook for the markets and how investors should adjust their strategy to boost their portfolios.
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Could that data -- really be what saving us today new surveys out showing that US manufacturers produced more products like cars and airplanes this month.
And homebuilders are getting more confident all good stuff -- that could be proof perhaps that the US economic recovery.
Is advancing albeit very slowly but let's bring in BlackRock senior advisor Bob doll he's joining me now.
In a Fox Business exclusive with his take on all of that it's good to see -- Bob thank you for being here.
-- -- Okay we've got decent data we've got worries about all kinds of scandals that keep popping up but we also have.
An election on the horizon so might my question to you is when people come up to -- and say Bob what should I do I've got a bit of dry powder I've got some cash right now.
Should I be putting it in the stock market the bond market or just -- tight.
In my view -- some bonds are not a great place to be we just talked about the back -- -- yields.
If the economy continues to muddle through which is my best guess.
Hard to justify 150 even the current 180 wanna -- treasury I think those rates are more -- bit higher over time.
You know the equity market is run pretty hard as we know up but really 10%.
Since early June with the European scare -- And so it may take a breather at some point in time but I think we'll end the year higher -- worry -- sort of muddle through economy.
And grind hire equity market muddle through and then grind higher will -- to have seen and I like that we're grinding chest.
Grinding around not a lot of volume but.
Does that mean Bob that people should be cherry picking some important stocks -- good quality names.
I got I think getting exposed -- equities to some degree for most people who are underweight equity is not a bad thing to do -- Doesn't mean you have to roll the dice you can go with some of the higher quality higher yielding names.
Having said that you know they've led the way and some of the cyclical areas have lag the economy is okay.
Maybe we get -- catch up in some of the cyclicals.
You hear people say I'm not doing anything.
Until after the election because somehow in their mind they feel that depending on who's president the market will do one thing or another.
Up putting aside the fact that over time if you look at history the stock market's done better under democratic presidents and Republican presidents but there's all kinds of data out there.
Do you look at that what do you say what's -- -- back a little bit cooler -- until this November election is over.
Not really lives I mean we also know that the year of the election tends to be a better year -- first year of the new term so that would argue for gonna be and do it now.
Look there are uncertainties related to the election when the election's over they'll be okay now we know who it is a -- what we're gonna do that's more uncertainty to.
I would just keep postponing the uncertainty.
I was I was in grant park when President Obama was elected -- in Chicago and and somebody said to me this may be the first this may be the first election where the guy who wins asks for the recount because there was so much.
On the plate with which they had to deal I mean it's been Knutson and here we are four years later this country's facing big issues but what amazes you most Bob.
About investor behavior over the past year.
That most investors really looking in the rear view mirror don't believe how much stocks are up it's one thing to say I think that's what stocks you can do the next twelve months and but it's another thing for -- -- say.
The stock market's up.
Double digit percentage this year can't be.
So you present the facts.
And people doubt that's how concern uncertain and negative people are which I think's a good thing.
Lots of stupid because I -- we're looking at one year charts right now and we do we see the NASDAQ -- over the NASDAQ up 20%.
Over the past year this is everybody was wringing hands and blaming.
People all over the place both inside and outside the beltway but -- going to drill down -- in just a few minutes with some real ideas.
Bob doll is coming back with us he'll join us with his investment strategy in just a second set stay right there -- thank you.
