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Bob Doll: Correction Offers Buying Opportunity

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The recent stock market correction represents a buying opportunity, but with a caveat, said BlackRock’s Bob Doll said Wednesday.

“I think we might probe lower before we get the absolute bottom in this correction,” BlackRock’s chief equity strategist said on “The Kudlow Report.” “We’ve not seen the high for the year in my judgment. The fundamentals are still not great.”

Doll said that long-term investors are still “anti-stocks.”

The best bet is a balanced portfolio with slow growth, he said.

Energy was Doll’s favorite cyclical sector, with health care as a defensive play.

“I think from here it’s more of a grind,” he said.

Doll also said he did not expect the Federal Reserve to resort to additional quantitative easing.

“QE is for emergencies,” he said, and the economy was no longer in dire straits.

Total Cost: $58,065Tuition: $43,840Room & Board: $13,980Fees: $245Claremont McKenna, located near downtown Los Angeles, accepted only 12.4 percent of its applicants for the class of 2016, a rate that admissions counselor Brandon Gonzalez said ensures that students here will be going to school only with other top students.�The class of 2016 will be one of the most talented groups of students we have ever seen,�  The school will charge these students a tuition of $21,920 per semester, or $43,840 for the entire academic year, incurring a total cost of
Total Cost: $58,065Tuition: $43,840Room & Board: $13,980Fees: $245Claremont McKenna, located near downtown Los Angeles, accepted only 12.4 percent of its applicants for the class of 2016, a rate that admissions counselor Brandon Gonzalez said ensures that students here will be going to school only with other top students.�The class of 2016 will be one of the most talented groups of students we have ever seen,� The school will charge these students a tuition of $21,920 per semester, or $43,840 for the entire academic year, incurring a total cost of

Asked by host Larry Kudlow how the markets were factoring in the presidential election, Doll said daily economic news played more of a role — capital markets, employment figures, Europe’s economy, China’s growth.

“We’ll worry about the election in the second half, most likely after Labor Day,” he said.

Tune in:

"The Kudlow Report" airs weeknights at 7 p.m. ET.

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