Investors should move toward a conservative positioning, Crossmark Global Investments CEO Bob Doll said in his weekly commentary Monday, citing rising economic and market uncertainty.
"Fixed-income investors should be lengthening portfolio duration. Stocks remain fully valued and are subject to downside action if economic and earnings weakness manifest themselves as we expect," wrote Doll, who also serves as chief investment officer.
"Uncertainties in the form of recent selling pressure among technology/AI stock and the withdrawal of President Biden from the election this November have clouded the picture somewhat. Those reversals could have profound implications for capital markets and asset allocation in the year ahead," he said.
