Rich Bernstein
Rich Bernstein
ignore paying people prices
People are paying Bentley prices for Volkswagens and Volkswagen prices for Bentleys. As in the bubble, people ignore the fundamentals.
cyclical excited fact hard highly market notion personally recession recovery risks tech
It's hard for me to get excited about a cyclical recovery when I personally think that the risks of a double-dip recession are increasing. If anything, the fact that tech is outperforming underscores my notion that the U.S. market is still highly speculative.
bull expectation join markets plenty seems slower start time
Bull markets don't start and end in a two-week period, which seems to be everyone's expectation these days. They are much slower and more gradual, and there is plenty of time to join in the fun.
close lofty suggesting
Our indicators are not even close to suggesting such lofty returns.
assuming commodity companies equity follow global prices seeing strength
The equity analysts that follow these companies are assuming that the commodity prices we're seeing are attributable to strength in the global economy. What we don't know is how much.
balance repair sheet
We find very little improvement. There really hasn't been much balance sheet repair at all.
allow continue corporate entire given increase practices purpose question reporting
We still question how the SEC can allow such non-GAAP reporting practices to continue given that the entire purpose of GAAP reporting is to increase corporate transparency.