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BlackRock's Doll: We're 'Less Underweight' Financials Now

CNBC.com
Monday, 18 May 2009 | 1:18 PM ET

Bank stocks have started off the week at a gallop. Will this trend continue straight upward — and how should investors play it?

Doll: Financials Have Bottomed
Financials have bottomed, believes Bob Doll, vice chairman & global CIO of equities at BlackRock. But he tells CNBC's Karen Tso, Sri Jegarajah & Martin Soong that on any rally of a longer term nature, the financials will rise but less than the market.

Bob Doll, vice chairman & global CIO of equities at BlackRock, offered CNBC his take on the sector.

"We are less underweight financials than we were," Doll said. And he believes banks "have indeed bottomed."

So is it time to sink money into the sector? Doll had a caveat for investors casting about:

"On any rally of a longer-term nature, financials will go up less than the [overall] market."

"We still have asset question marks. Until we get more time, more write-offs, more capital raised, we think there will be bumps along the way for the financials."

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CNBC's Financials in the News:

State Street

Bank of America

AIG

Goldman Sachs

Berkshire Hathaway

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Disclosures:

Disclosure information was not available for Bob Doll or BlackRock.

Disclaimer

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