Wall Street Investment Tycoon: You Can Have It All, But Hands Off Tech and Cryptocurrencies

Institutional Investor Hall of Fame Member Richard Bernstein Advisors (Richard Bernstein Advisors) Founder and CEO Richard Bernstein (Richard Bernstein) has always been bullish on the stock market, but his recent investment strategy was put in place at Wall Street. Some of the more popular assets are not included. He said you can handle everything in the market right now, but don't touch "bubble assets" like tech stocks and cryptocurrencies.

Bernstein attributes this to the pleasure of seeing events unfold in the store.

“Here technology, innovation and exchange, all the so-called bubble assets are like cryptocurrencies. Outside of that chain is almost everything in the world. If you look from 2022 to 2023, I think that you think the other side of adoption is going to lose, ”he said on Friday.

optimistic about the electricity industry

Bernstein believed incompetence would create opportunities. “You can get higher refunds here,” he said.

Bernstein identified the first workforce after naming the industry as the best deal for 2021. Earlier this year, it was called the most neglected oil industry. And now he believes the economy can continue to grow by 2022.

The Energy Select Sector SPDR fund, which tracks US energy supplies, has rebounded 51% so far this year.

"The end-to-end recovery of free energy saving (FCF) is also higher compared to commercial or industrial technology, this is when the foam technology, and over the next ten years, the energy sector has become more profitable. Now the turnover of the energy sector is more than three times the share of the S&P 500, "Bernstein said in a statement.

Bullish tech stocks and cryptocurrencies

Bernstein warns that today's "bubbles" could be devastating for traders in the early 2000s. He said "it's important to remember that high blood pressure is more important than the stories." , did he declare.

He admits that the history of the Internet and cell phone communication during the tech bubble of 2000 has become a reality over the next decade. However, it can take years to realize the benefits.

"Investing in the Nasdaq 100 will take 14 years to collapse. Some people today don't care about the measure and don't think they need 14 years to break it."

Bernstein also thinks cryptocurrencies are a big deal. In June of this year, he was warned that the competition to own Bitcoin and other cryptocurrencies had become risky.

"Cryptocurrency is the biggest financial bubble in history. What is it." It has also been estimated that Bitcoin could drop as much as 90% during the 2000 bubble period, like some commodities.