4.17.11

The New York Times - The Wall of Worry Has Never Looked So High

The New York Times interview with Richard Bernstein about his views on the global equity markets. Originally published in New York Times on April 17, 2011.

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4.12.12

Diversification Remains Difficult

Our firm believes three core principles build long-term wealth:

1) Extend the investment time horizons.

2) Compound dividend income.

3) Truly diversify portfolios.

Although these principles sound obvious, few investors actually follow them consistently.

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3.15.12

The First Sign of Weakness in Corporate America

Our bullishness over the last several years regarding US equities has been primarily based on the strength in US corporate profits. Whereas the overall economy had a rather tepid recovery, the US corporate sector had one of its strongest receoveries in history. Corporate profits now compose the largest proporation of national income in post-war history.

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2.29.12

Financial Times - Why the 'Risk-On' Rally Will Not Last

The recent rally in global markets has been led by what most investors are now calling "risk-on" assets. Their counterparts, risk-off assets, have lagged. We question the longevity of this risk-on trade. Indeed, we believe that the secular investment theme remains off.

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2.28.11

The Importance of Beta Management

2008's bear market has led investors to increasingly focus on absolute returns rather than relative returns. However, investors continue to judge manager performance based on relative performance despite the change in their performance goals. That seems inconsistent and self-defeating to us.

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1.31.12

2011: The U.S. Year

The market generally proves the consensus wrong, and 2011 certainly adhered to that historical precedent because the consensus "must owns" at the beginning of 2011 generally underperformed during the year. What is somewhat startling to us, however, is that conviction has yet to be shaken. The consensus continues to favor commodities, emerging markets, and "any-bond-but-treasuries".

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12.17.10

USA Today - 15th Annual Investment Roundtable

Experts agree: get over your fear and get back into stocks. Originally published in USA Today on December 17, 2010.

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12.14.10

Barron's - New Gig, Old Approach

Interview with Richard Bernstein about his new firm, and the newly launched Eaton Vance fund. Originally published in Barron's on December 6, 2010.

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