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
commodity continues currently dollar earnings exposure fall foreign help investors likely prices remain stocks stronger support
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.
confidence consumer consumers currently few generators indicate people perceived relatively situation tend trust
The more generators sold, the more consumer confidence has been hurt, as this would tend to indicate that people do not trust the infrastructure currently in place. If, however, consumers shrug off the ... situation and relatively few generators are sold, then this would be perceived as a positive.
rate slow slower
At the rate it's going right now, profitability will accelerate, but at a very, very slow pace, ... much slower than what's implied by valuation in the market.
economic fed indeed perhaps slowing weather
It will be interesting to see if these companies' misfortunes are indeed attributable to weather and temporary, or perhaps better attributable to the Fed and slowing economic growth.
They could have diversified their holdings 2, 5 or even 10 years ago.
balance based cycle income investors picking profits selection sheet sheets statement statements stock strong switch tend time variables
We think it is now time for investors to switch from income statement variables to balance sheet variables when picking stocks, ... Portfolios in which stock selection was based on strong balance sheets tend to outperform those based on income statements when the profits cycle decelerates.
came huge issue passionate since transit
I've been passionate about this ever since I came on the board; transit is a huge issue for me.
among disliked good news perform quite stocks
The big telecoms still have to be among the most disliked stocks in the world. They are so under-owned that if we see a continuation of more good news than bad, the stocks will perform quite well.
near
S&P 500 valuations, by some measures, are near or at all-time highs,
investors late private
Private investors are usually late to the party.
build building equity high house levels people prefer price speculate using wealth
People used to build wealth through building equity in their homes. Today, people prefer to speculate on the price of their house by using historically high levels of leverage.
closely companies executives held people trying
People say these companies are closely held and that the executives are trying to diversify, but why now?
despite earnings fact lack might pricing
Because of the lack of pricing power, earnings expectations might be too optimistic, despite the fact that they are being lowered.
capital highest returns
Returns on capital are highest where capital is scare.