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Economy Threatens U.S. Stocks More Than Trump, Says Veteran Money Manager

  • Doll says U.S. economic sentiment may be too optimistic
  • Pronounced downturn in equities possible in short term: Doll
Nuveen Asset Management LLC Senior Portfolio Manager Robert "Bob" Doll Interview

Nuveen Asset Management LLC Senior Portfolio Manager Robert "Bob" Doll Interview

Veteran money manager Bob Doll is becoming increasingly worried that the American economy poses a greater threat to the U.S. stock rally than the political tensions traders are currently focused on from President Donald Trump and Congress.

Sentiment on the U.S. economy may be too high, leaving investors vulnerable to negative surprises on growth, according to Doll, the Chicago-based chief equity strategist and senior portfolio manager at Nuveen Asset Management LLC, which oversees about $230 billion. Equities and high-yield bonds may suffer in the short-term, with the chance of a deeper sell-off growing, he said. He remains bullish on equities longer-term.