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BlackRock's Bob Doll Says US Stocks Are "Pretty Cheap"
Apparently after losing Blackrock tens of billions through the firm's holdings of BP and various drillers, Bob Dolls has not only not been fired, but according to RanSquawk was heard somewhere (indicatively, not even CNBC wants to listen to his gibberish any more), saying that stocks are "pretty cheap." Good - he can buy up all the 330 million shares that the Bank of Norway is rumored to be selling. If Bob thinks stocks are pretty cheap here, we hope he has enough dry powder to LBO the entire market when the S&P is trading at 300 or lower.
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what a Fucktard he is
BlackRock's Bob Doll Says He's "Pretty Cheap"
"Hell, I buy and sell my ass two or three times a day to the highest bidder. I'm a whore and I'm lovin' it."
+100 for saying what everyone else was thinking.
I don't think this is new Doll commentary every week
I am now convinced this is just a running loop of a video from 2007 and they dub in some audio of recent events every so often to make it 'fresh' and sound like its a new video.
Right on. This tool has been singing the same song since November. We get it Bob.
They don't call him "Wind-up" Doll for nothing. Just pull his string and he says the same 8 lines over and over.
Yeah, he's definitely some ventriliquist's dummy-'doll'.
Wait until next month....they'll be even cheaper!
Funny.
LOL. I remember Bob Doll, every other day through 2008 telling CNBC that the market was "forming a bottom"
How the fuck are they cheap? According to Schiller's p/e formula (the best, I think) that takes the "e" as trailing ten year average actual earnings, the current p/e is over 19, while the average is 15.73. And further, long term bull markets start from below the mean (of 15.73) at places like 5 or 6... We have a ways to go. Dow 7000 is fair value according to this, so will likely overshoot to the downside before it reverts upwards?
"has enough dry powder to LBO the entire market when the S&P is trading at 300 or lower"
LOL
This is the reason you will never shine in the mainstream media Tyler.
+1 Tyler
e cred > MSM adulation
+100^50.1
dubs
Bull market... they are missing a word starting with "s" that sounds like chit and rhymes with "it".
1930 all over again
Shouldn't be Bob Doll, should be Bob Tool.
Bob Doll and Abby Joe. Civic leaders of Bulltardville.
test
So I guess they'll be buying more BP shares then?
Bob Doll is the most useless, worthless person they put on CNBC. Has he ever given out any useful information? What is his god damn problem? Is he trying to mislead people?
That may be a bit extreme, CNBC is till FILLED TO THE BRIM with the most useless, worthless people who are there simply to pump the sheeple out of money. Admitted (illegal) stock manipulator Cramer just pumped out about 30% from the pockets of sheeple who bought BP. Now there is a nice theft in the course of a mere week or so. If CNBC can simply keep stealing only 10% per week from sheeple as a way to transfer money to Goldman Sachs, JPMorgan, etc then all is well. Ok, so the sheeple are then broke and collecting food stamps, yet JPMorgan is the bankster in charge of that program so it is a win-win... for the banksters.
You have to think holistically here folks. When you lose the bank and system wins. Of course CNBC is all for the system, not you loser sheeple. Now do as CNBC says and get out there and buy buy buy because the market has never been cheaper.
I would be very surprised if Bob and his Blackrock friends weren't able to engineer a pretty big squeeze over the next few days. A lot of government money goes a long way in a shallow market.
Bob Doll could very well be right... but by looking at past valuations, he makes some naive conclusions.
I don't care if stocks are "cheap". I'm concerned whether they can retain their value now, and create more value in the future. Investors are discounting stocks based on what they see in the future. It appears that the future has just begun to take another turn for the worse.
Let's not tell Bob Doll about it, and after the next 30% leg down, he can tell us that the market is in a "bottoming process".
I'm just surprised that they let anyone who looks so foolish make so much money.
Stocks can always become cheapererererererer!
If he was fired it was after his appearence on Kudlow last night.
If cheap is defined as less expensive than previously, well then he's stated a fact. Stocks were also cheap in October 2008, November 2008, December 2008. Hey, I'm a genius here. Put me on TV, too!
Like giving a machine gun to a monkey
Bob Doll predictions for 2010:
"Stock prices have reached what looks like a permanently high plateau."
Peak dow pump monkey. This one went to 11 for a while till it blew logic capacitors.
The EURO breakout I suggested yesterday, has made its move ...
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
CNBC?? Yes I guess I need to realize the fact that investors are still watching this circus side show every day.
I know they are because I sat next to a "day trader" at my Son's HS sports award banquet a week or so ago and after chatting for a while I realized He really had no idea about what is actually going on. He had just finished Hank Paulson's book though and was very anamored with it. Quoting passages etc.
I see now when it is too late what we are up against
Blackrock's "holdings" of BP are mostly on behalf of their customers who own iShares ETFs, which are index funds. Get your facts straight please before psychotically ranting that "Bob Doll" is holding and losing a bunch of money for investors.
BTW people, keep deluding yourself that the stock market is expensive, or overvalued. Gives me more cheap stock to buy. The real bubble is in bonds and in cash.
I agree about you sentiments on bonds and cash... they are bubblelicious.
But I hope you realize what you just said isn't mutually exclusive. If you want to buy stocks now, that's fine. I will come in and buy them even cheaper in the future.
Yeah, its kind of a, "would you prefer death by firing squad, or by lethal injection" problem. The difference between losing, say, 60-70% (if one stays in cash/bonds), versus losing 30-40% (if one stays in stocks), for instance.
What exactly would you use to buy stocks cheaper? Your labour? Because if you accept that cash/bonds are in a bubble relative to stocks, you sure won't be able to use those to buy stocks cheaper.
There are 2 things you are missing here-- time and store of value.
If you are confident that stocks are adequately "cheap", coverting your store of value (gold, silver, cash, your cow Betsy) to common stock would be the way to approach it. Cash, by the way, did serve as a decent store of value in the Depression years-- you just couldn't make a return on it stuffed in a mattress. It's better to have numerous items that serve as a good store, though.
As for time, I never mentioned WHEN buying those stocks would be a good idea. It all depends on how our political leaders steer things. Right now, I'm not encouraged. Stock values could well be much lower 2 years from now, versus 3 months.
cash, gold, stocks all pale in comparison to whiskey
delete plz