My Comments: I met Bob Doll some twenty years ago when he was a regional VP for Oppenheimer Funds. At least that’s what my memory tells me about him. Today, he is one of the most influential money management gurus on the planet. His thinking is more often than not, spot on.

By Joyce Hanson, AdvisorOne | July 3, 2013

Bob Doll, chief equity strategist and senior portfolio manager for Nuveen Asset Management, kicked off 2013 by offering 10 market and economy predictions for 2013.

So how did Doll do? By his own accounting, he got five predictions right and three wrong, and two are still too early to call.

Summing up his market calls, Doll on Monday wrote in “A Mid-Year 10 Predictions Assessment” that equities had a strong six-month period despite a May and June correction primarily due to a very difficult bond market.

“Perhaps the ‘great rotation’ started late in the second quarter as investors moved from bonds and bond-like equities, with measured progress for cyclical and growth equities,” Doll said. “Anxiety remains over the Fed ending its quantitative easing experiment, and there are also financial issues in China that are cause for concern.”

Looking ahead, Doll ventures that the big question will be the Federal Reserve’s exit strategy from quantitative easing: “What does this look like and does it work?” Also, he wants to see how financial concerns in China play out, and he wonders whether nominal growth will be strong enough in the U.S. and globally for earnings to improve.

“It appears as if the multiple-driven equity market is finished, and we will need better earnings for the equity market to move higher,” Doll concludes.

On the next pages, read about Doll’s five correct predictions followed by the three he got wrong and the two that are still too early to call.