Speaking to CNBC-TV18 Bob Doll, Chief Equity Strategist & Senior Portfolio Manager of Nuveen Asset Management said the impressive run in equities is likely to continue. "Brexit fears were overdone."
With volatility appearing to ebb a bit following the Black Monday that hit global markets this week, leading market experts are now saying a major part of it was driven more by technicals than fundamentals.
"The question marks around strategy, user growth, and new innovations remain. My preference is to sit on the sidelines and learn a little more. There are many, if not more uncertainties today than there were yesterday," Bob Doll, chief equity strategist and senior portfolio manager at Nuveen Asset Management, told CNBC on Friday.
"Gold has come down because everybody piled in on it for 12 years in a row and (I`m) sure some people used leverage and it was due for a very severe correction," said Axel Merk, chief investment officer at Merk Investments
Bob Doll expects the stock market to continue to perform well, and cyclicals should outperform defensive stocks, while gains should be "less ebullient" and the market more volatile. Market gains will depend more on earnings growth, rather than on multiple expansion.