When Bob Doll, chief fairness strategist at Nuveen, made his predictions final yr for 2018, he anticipated a transfer from a clean gallop to a “bumpy grind” within the inventory market and economic system. His predictions held true for financial and earnings progress. And for many of 2018 the inventory market was advantageous—till the sharp correction on the finish of the yr.
“As we enter 2019, buyers are primarily questioning whether or not this correction can be brief residing or if we're beginning a downward spiral,” Doll stated.
Doll has lengthy been making his yearly predictions, however 2019 was tougher to forecast, he stated.
“However, on the finish of the day, I remind myself that I'm an lively supervisor, that means it’s my job to return down on one aspect or one other: I lean towards a constructive view on equities,” he stated.
General, Doll doesn’t count on a recession this yr, with a robust shopper sector, strong company sector and increasing authorities sector. Whereas he expects stronger market efficiency than in 2018, this yr can be a troublesome one for buyers, who must be selective and tactical. “Lengthy-term buyers could need to add to positions in periods of weak point and trim holdings in periods of power,” he stated.
Click on via the gallery to view Doll’s predictions in additional element.