BlackRock's Doll: We're 'Less Underweight' Financials Now
Bank stocks have started off the week at a gallop. Will this trend continue straight upward — and how should investors play it?
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."
CNBC's Financials in the News:
Bank of America
Disclosure information was not available for Bob Doll or BlackRock.