Richard Bernstein
Richard Bernstein
Richard Bernsteinis an American journalist, columnist, and author. He writes the Letter from America column for The International Herald Tribune. He was a book critic at The New York Times and a foreign correspondent for both Time magazine and The New York Times in Europe and Asia...
ProfessionJournalist
Date of Birth5 May 1944
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The quality of earnings is the poorest in my career.
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Today all you're probably seeing is a weakness prior to the G8 meeting this weekend, and a lot of uncertainty in Indonesia and Asia,
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From our lens, the U.S. housing market has become seriously overextended and a correction looms, posing the largest risk to 2006 consumer spending.
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I don't think people realize the market has been flat for the past seven years ? people don't realize that because there have been big ups and downs. But without market volatility, the market hasn't done much.
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Because of the lack of pricing power, earnings expectations might be too optimistic, despite the fact that they are being lowered.
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Returns on capital are highest where capital is scare.
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People who want to watch the Fed need to be very careful,
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Policy makers seem to continue to believe that they can boost demand enough to alleviate the oversupply situation. They now talk of extraordinary monetary measures and huge tax cuts to stimulate demand, ... Although their timing was admittedly very poor, Japanese policy makers attempted the same thing.
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Portfolio managers should answer the question regarding the potential for deflation by saying that we are already deflating.
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Lower quality companies are dramatically overstating their growth rates by using pro forma earnings.
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There has been record insider selling within the last 10 months across a broad range of homebuilding companies despite very few sell ratings by Wall Street analysts and the general perception by investors that the stocks are undervalued.
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We think there is a strong contrary message, ... at a record pace across nearly the entire industry.
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Two of Michigan's greatest institutions can be connected by rail.
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Stocks with significant foreign exposure should help to support stocks. If the dollar continues to fall and commodity prices remain strong, then earnings are likely to be stronger than investors currently expect.