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Investors Must Take 'Leap of Faith': BlackRock's Doll

"Good companies that produce good results will be rewarded in the marketplace, and you just have to work a little harder to find them and maybe have a little more patience," he said. "I think the 'short-termism' has spooked a lot of people."

He thinks markets have priced in a possible Greek default, as long as it's "an organized default, not a chaotic one."

Similarly, U.S. markets have priced in any possible action by the Federal Reserve, following its two-day meeting ending Wednesday.

Doll said the Fed has "got to do a little something to tip the hat to the markets. If they do nothing...I don’t think the markets are going to like that very much—but I don’t think he has to do a lot," he said.

One thing the Fed could do would be "traditional QE3, , which virtually nobody’s talked about. [Bernanke will] save that for a rainy day if he needs it. Let’s hope he doesn’t."

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Disclosures:

Disclosure information was not available for Robert Doll or his company.

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