Commentary

Some Similarities to 1999/2000
Doll’s Deliberations

Some Similarities to 1999/2000

Despite steep losses in internet high-flyers and others, equity investors did not retreat from the overall equity market, rotating into lagging areas instead as they belatedly realized they overpaid for a future that may not be as rosy as expected. The similarities to 1999/2000 has Bob Doll considering whether the past is prologue. Read his full take in this week’s newsletter.

02/23/2026
Sector and Geographic Rotation Continues
Doll’s Deliberations

Sector and Geographic Rotation Continues

Financial markets are volatile as confidence in accommodative monetary conditions wanes and hot sectors/stocks hit a wall, including Bitcoin and many AI and related plays. Are investors moving to de-risking? Bob Doll reflects on Fed rate cuts, inflation, the leaders in the rotation to international, and more in this week's newsletter.

02/17/2026
Accommodative Policies Continue to Fuel Asset Prices
Doll’s Deliberations

Accommodative Policies Continue to Fuel Asset Prices

Value stocks are outperforming, inflation remains sticky, and the Fed is likely to stay accommodative even as risks quietly build. This week, Bob Doll covers manufacturing momentum, the CPI outlook, labor trends, investor pullbacks in AI, and why dividends and fundamentals should matter more than liquidity in 2026. Read the full story.

02/09/2026
De-escalation Came in Time Yet Again
Doll’s Deliberations

De-escalation Came in Time Yet Again

The roller-coaster ride in global financial markets, driven by the ebbs and flows of a volatile U.S. administration, had a distinct risk-off tone until the pivot in Davos. Despite the turbulence, existing market trends are still intact, namely uptrends in both equities and bond yields. Of note, a hallmark of a regime change presented itself early last week - is value overtaking growth? Get Bob’s full take.

01/26/2026
The High-Risk Bull Market Continues
Doll’s Deliberations

The High-Risk Bull Market Continues

On the surface, everything looks positive. Equity markets have continued to grind higher, with further outperformance by international markets. Economic growth appears resilient and earnings expectations are strong. But what lies beneath? In his latest commentary, Bob explains why the high-risk bull market is still going strong - and which warning signals may be bubbling up.

01/20/2026
Fundamentals Good, But Stock Prices Reflect That
Doll’s Deliberations

Fundamentals Good, But Stock Prices Reflect That

The U.S. economy is entering 2026 in decent shape, supported by resilient consumer spending and accommodative policy. That said, equity valuations are historically rich, bond yields remain a risk, and investors may need to prepare for lower returns and higher volatility across stocks and bonds.

01/12/2026
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