Tuesday, December 1, 2015

Stocks overpriced, says BlackRock analyst

Stocks have gone up "non-stop up for the last bunch of weeks as if all problems got solved, but they are not all solved," BlackRock chief stock investor Bob Doll tells Bloomberg News

Stocks overpriced, says BlackRock analyst


Stocks have gone up "non-stop up for the last bunch of weeks as if all problems got solved, but they are not all solved,” BlackRock chief stock investor Bob Doll tells Bloomberg News here. He predicts bank shares will fall, as investors realize most of them have to raise a lot more money to cover bad loans; and that will drive the S&P 500 down more than 10%.

But he's also predicting the S&P up at 1,000 by year's end. Which reminds us of the old joke that "any weather forecast of "partly cloudy, followed by partly sunny, has got to be partly right."

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About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, 215.854.5194, @PhillyJoeD. Read his blog posts at http://www.philly.com/PhillyDeals and his Inquirer columns at http://www.philly.com/philly/columnists/joseph-distefano/. Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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