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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History suggests that the most powerful factor influencing the profit cycle is pricing power.
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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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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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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.
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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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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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Lower quality companies are dramatically overstating their growth rates by using pro forma earnings.
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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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I've been passionate about this ever since I came on the board; transit is a huge issue for me.
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S&P 500 valuations, by some measures, are near or at all-time highs,