Saturday, September 20, 2014
Inquirer Daily 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

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."

About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

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

Joseph N. DiStefano
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