China and gold bubbles close to popping? Bernstein thinks so.
Richard Bernstein, a Wall Street veteran, thinks that Chinese stocks should be avoided and Europe might surprise us. Should we be listening?
An investor reacts as he looks at the stock price board at a private security company in Shanghai, China, Monday, May 16, 2011. Pay attention to Richard Bernstein's predictions about the Chinese market, writes guest blogger Joshua M. Brown.
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When Richard Bernstein is in the news, I pay attention. He's a Wall Street vet who always seems to make interesting calls but we don't necessarily hear from him all that often.
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Joshua has been managing money for high net worth clients, charitable foundations, corporations and retirement plans for more than a decade.
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The strategist is out today with two somewhat controversial views on well-loved themes that you may want to pay attention to...
From MarketWatch:
“China has a credit bubble that makes ours look like nothing,” said Bernstein, CEO of Richard Bernstein Advisors and former chief investment strategist and head of Merrill Lynch’s Investment Strategy Group. “Gold,” he added, “is not in a bubble but it is about as close as you can get.”
“Everything people don’t like about the United States over the past five years they have in spades,” Bernstein said about China.
Bernstein has some compelling ideas for why China stocks, commodities and gold are to be avoided and why Europe may exceed everyone's expectations. Head over below.
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