Bob Doll, BlackRock Vice Chairman and Chief Equity Strategist wrote an Op-Ed for WSJ entitled The Bullish Case for U.S. Equitities. A copy without requirement of subscription can also be found at Yahoo! Finance.
Excerpt:
Read the complete article: entitled The Bullish Case for U.S. Equitities
Excerpt:
When the Puritan John Winthrop invoked the image of America as a "City Upon a Hill"—seeing model communities for the world in the raw settlements of 17th century New England—the idea of American exceptionalism was born. The concept retains its motivating force and our recovery from this recession offers the latest evidence of it.
There is no question that we face formidable, long-term structural problems that make U.S. stocks less attractive for many investors. But I believe that the spirit of innovation and entrepreneurship that has defined America in past crises will prevail again and propel our markets forward. As such, overweight positions in U.S. equities are more than warranted.
Though housing is weak and debt and deficit levels are rising, compared to the rest of the world the U.S. is in reasonably good shape. Our economic fundamentals are sound: Manufacturing levels are up and interest rates and inflation are low. The broader economy's recovery is also finally translating into meaningful employment improvements—recent employment reports show increases in average hourly earnings and hours worked—and I believe this trend will continue.
Read the complete article: entitled The Bullish Case for U.S. Equitities
