All-star investor Richard Bernstein sees cracks in bull market, warns a 'full-blown profits' recession could hit US in 2020 (via TradingNation)
Institutional Investor Hall of Famer Richard Bernstein is making a bearish contrarian call on earnings.
"The one thing that people are kind of missing out [on] here is that earnings in the United States are still decelerating," the CEO of Richard Bernstein Advisors told CNBC's "" on Wednesday. "By our work, we would argue that the first half of 2020 you could actually see a full-blown profits recession."
"Our research shows that analysts have never forecasted a proper recession," he said. "They're very good at doing it once it occurs, but they've never actually forecasted one ahead of time."Bernstein, a CNBC contributor, started his firm in 2009 after a long run as Merrill Lynch's chief investment strategist. At the point of launching his firm, Bernstein was anticipating the biggest bull market of his career.
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