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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Because of the lack of pricing power, earnings expectations might be too optimistic, despite the fact that they are being lowered.
dollar earnings growth negative percent
Historically, S&P 500 earnings growth, on average, has been negative when the dollar has appreciated 10 percent or more in a 12-month period.
earnings poorest quality
The quality of earnings is the poorest in my career.
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.
companies earnings half history market might producing reward second tax
The market might reward some companies during the second half of 2004 for producing better-than-expected earnings because of the tax windfall, ... but history suggests that the market will penalize those same companies if their earnings decelerate in 2005 from 2004's tax-induced growth.
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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.
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.
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Two of Michigan's greatest institutions can be connected by rail.
admittedly although attempted believe boost continue cuts demand huge japanese makers measures monetary policy seem stimulate talk tax timing
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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Returns on capital are highest where capital is scare.
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Lower quality companies are dramatically overstating their growth rates by using pro forma earnings.
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I think many investors have failed to make the link between global growth and the U.S. housing market. The U.S. consumer remains 20 percent of the global economy, and a slowdown in housing and, in turn, U.S. consumption could hurt emerging market exports.