In continuation of a tradition he started at Merrill Lynch, Bob Doll, Vice Chairman of Blackrock and one of the largest equity managers in the world, released his 10 for 2010. I have to admit, they are essentially in-line with the consensus.
- S&P 500 rallies to 1250
- Emerging markets outperform developed markets
- U.S. outperforms other developed markets
- Earnings growth of 20% Plus
- U.S. economy grows at 3%
- Job growth turns positive early in the year but unemployment remains high
- Inflation remains low
- Expects rates to rise across the curve
- Stocks outperform cash and bonds
- Overweight health care, tech and telecom — Underweight financials utilities and materials
- M&A picks up because of strong cash flow and slow growth
- GOP makes gains in House and Senate but Dems continue to control Congress
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.