Richard Bernstein - The Case for Dividends in a Bubble Era | #614
Today’s guest is Richard Bernstein, Chief Investment Officer of Richard Bernstein Advisors, which he founded in 2009. He was previously the Chief Investment Strategist at Merrill Lynch. In today’s episode, Richard argues that the market is defined by rampant speculation and extreme narrowness. He explains why he’s bullish on both dividend-paying and international stocks and believes crypto is the first global investment bubble. To close, he warns that corporate credit is priced for perfection, inflation risks aren’t gone, and diversification is the best defense in a bubble-prone market.
Key Points
- Speculative behavior has infiltrated multiple asset classes, indicating a broader market exuberance rather than isolated bubbles.
- Despite the popularity of large-cap tech stocks, there are numerous global companies with equal or superior growth prospects trading at more attractive valuations.
- History and financial literacy are crucial, as many so-called unprecedented market events have parallels in past financial cycles.
Follow Richard: Website; LinkedIn; X
Resources: 2026 Outlook: Boring is Beautiful Crypto ain't digital gold
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Chapters
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Transcript
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