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From A Doll’s Lips


Bob Doll is the Chief Equity Officer for investment giant Nuveen.  He may not be the best known person on Wall Street, but he is certainly one of the best-liked.  Each year, he is brave enough to make ten predictions and has an enviable track record.  Here are his ten predictions for 2021:

    1. Our GDP growth rate will be the fastest in twenty years

    2. Inflation will approach 2%, and ten-year Treasuries will hit 1.5%

    3. The dollar sinks to a five-year low

    4. Stocks will reach another high but not as fast as EPS growth

    5. Cash will outperform bonds for first time since 2013

    6. Value stocks, small-cap stocks and emerging markets will outperform large-cap growth stocks

    7. Healthcare and financials will outperform energy and utilities

    8. Federal debt will exceed 100% of GDP

    9. Trade war with China will cool and become more multi-lateral

    10. Biden and McConnell will achieve significant legislation

Here are my thoughts.  I think 1,2, & 3 are very likely.  #4 is true only because the stock market has gotten far ahead of our recession-wracked economy.  #5 is absolutely expected.  #6 is long overdue.  #7 is probably true.  #8 is already true, depending on how it is measured.  #9 is so necessary that it has to be true.  #10 would be a gift to America.


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