A long time ago in this very same galaxy, certain market strategists were perceived (rightly or wrongly) as "market movers." Amid the bubble-era hysteria and its aftermath, this column set out to determine which forecasters were worth listening to, culminating in the annual " Guru of the Year " award.

Years later, we resume the effort. Some of the names have changed, but the mission remains the same: to regularly update readers on the insights and prognostications of the so-called major strategists, and periodically hold their opinions up to critical examination. So without further ado ...

The vast majority of market pundits are forecasting decent, but not spectacular, returns for major averages in 2007, as reflected in TheStreet.com's 2007 preview and other surveys of a similar ilk.

Against that backdrop, Bob Doll, chief investment officer of global equities at BlackRock, which has more than $1 trillion under management, seems to have a fairly mainstream outlook. Doll is "fairly constructive" on U.S. stocks in 2007, saying the "path of least resistance" remains higher for equities but volatility -- in both directions -- should rise, as has been evident in intraday trading so far in January.

Doll is forecasting growth of about 8% to 12% for both major U.S. and international proxies this year. Among overseas markets, he is particularly bullish on Japan and Brazil but is becoming more upbeat about U.S. stocks vs. global equities after several years of (correctly) preferring the latter. Within the U.S. market, Doll prefers high-quality and big-cap stocks over low-quality and small-cap names, a forecast that is off to a solid start in 2007 and is shared by many.

Doll also favors growth over value, and named energy, health care and tech as favorite sectors, the latter because of a view that corporate technology spending will increase in the months ahead after having lagged behind overall corporate earnings growth in recent years.

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