Doll’s Deliberations

From the mind of industry veteran Bob Doll comes Doll's Deliberations®, a weekly investment commentary.

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Commentary

A Pause That Refreshes?

Doll’s Deliberations

A Pause That Refreshes?

After nonstop negative policy actions or threats to the economy, President Trump eased back on two major initiatives last week, providing relief to beleaguered bond and stock markets.

04/28/2025

An Attempt to Define the Current State of Play

Doll’s Deliberations

An Attempt to Define the Current State of Play

Investors and businesses came into this year with misplaced optimism that President Trump would promote pro-growth policies and fuel higher risk asset prices. In a matter of months, Trump has instead effectively sidelined the U.S. exceptionalism theme, triggered a significant stock market correction, severely impaired what was a strong U.S. economy, and is approaching the brink of a “crisis of confidence.”

04/21/2025

Despite Tariff Postponement, Uncertainty Remains Very High

Doll’s Deliberations

Despite Tariff Postponement, Uncertainty Remains Very High

Stocks enjoyed a brief reprieve after the U.S. announced a 90-day pause on some tariffs last week. So far, that respite lasted just one day.

04/14/2025

Bob Doll’s Quarterly Investment Commentary 2Q 2025

Market Insights, Thought Leadership, Doll’s Deliberations

Bob Doll’s Quarterly Investment Commentary 2Q 2025

In his quarterly investment commentary, Bob Doll provides an in-depth look at the first quarter of 2025, including market volatility, inflation considerations, and one possible silver lining for the global economy.

04/07/2025

Caution/Defensiveness Prevails

Doll’s Deliberations

Caution/Defensiveness Prevails

Wednesday marks the next date in the ongoing U.S.-led trade war, with reciprocal tariffs due to be announced as a follow-on to last week’s 25% tariff on autos.

03/31/2025

Slowing Growth + Stubborn Inflation = Defensive Positioning

Doll’s Deliberations

Slowing Growth + Stubborn Inflation = Defensive Positioning

The volatile risk-off backdrop has continued. Economic concerns have surged with the U.S.-led trade war moving into high gear.

03/24/2025

Bob Doll’s Special Market Commentary

Doll’s Deliberations

Bob Doll’s Special Market Commentary

In this brief market update, Bob Doll weighs in on the dramatic market volatility and discusses the causes of the decline—uncertainty, tariffs, and overvaluation. He covers these topics more deeply in his newest white paper: Crossroads or Crosshairs? Check it out on our Thought Leadership page.

03/17/2025

Confidence Down + Uncertainty Up = Down Markets

Doll’s Deliberations

Confidence Down + Uncertainty Up = Down Markets

U.S. growth fears have mounted sharply in recent weeks, driven by the Trump Administration’s sizeable enacted and proposed tariffs, its focus on reducing federal government spending, and an overall elevated sense of policy uncertainty/unpredictability.

03/17/2025

The Dark Clouds Continue to Multiply

Doll’s Deliberations

The Dark Clouds Continue to Multiply

Aggressive shifts in U.S. economic policy are undermining investors’ prior pro-growth expectations of the second Trump Administration.

03/10/2025

Tariff Headwinds and a Growth Scare Rock Risk Assets

Doll’s Deliberations

Tariff Headwinds and a Growth Scare Rock Risk Assets

Global financial markets have hit a rough patch as the cumulative impact of President Trump’s trade and related economic threats are fueling concerns that he will diverge from the pro-growth script that he initially followed during his first term.

03/03/2025