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
cash extremely fast might pace rate relative reliable rising signal
The 1-year T-Note rate is now rising at an extremely fast pace relative to dividend yields. Historically, this has been a reliable signal that cash might outperform stocks.
across contrary entire nearly pace record strong
We think there is a strong contrary message, ... at a record pace across nearly the entire industry.
against believe doubtful fed indeed remain vigilant
We remain doubtful that the Fed is indeed 'done,' which has become the overwhelming consensus. We believe they will be more vigilant against inflation.
hurt last market rally relief seeing today
What we're seeing today is a relief rally from last week, ... There is really nothing to hurt the market today. All the techs are rebounding well.
cannot causing deal gas hit increase increases lose percent prices students
Our students just got hit with an 18.5 percent increase in tuition, and now gas prices are causing a crisis. We are going to lose students on the edge. They cannot deal with all these increases all at once.
consumer emerging failed global growth housing hurt investors link market percent remains
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.
building caught component constant dividends forget huge individual investors
Most individual investors get caught up in the hype. They forget that the constant reinvestment of dividends can be a huge component of building wealth.
believe continue downside equity risk upside
We continue to believe that there is considerably more downside risk than upside risk to the equity market,
believe continue investors market
We continue to believe that the market is riskier and more speculative than most investors believe.
believe continue focus investors
We continue to believe that longer-term investors should focus on yield.
amazed truly
We are truly amazed by this incremental bullishness.
commented equity improving line market stepped thin
We have commented that there is a thin line between a liquidity-driven market that anticipates improving fundamentals and a bubble. The equity market may have stepped over that line.
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.