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:
State Street
Bank of America
AIG
Goldman Sachs
Berkshire Hathaway
______________________________
Disclosures:
Disclosure information was not available for Bob Doll or BlackRock.
