Richard Bernstein is the chief executive officer and chief investment officer of Richard Bernstein ... [+] Advisors ForbesRichard Bernstein, CEO and CIO of Richard Bernstein Advisors, advocates for moving away from the major technology stocks, citing the technology bubble at the end of the 1990s that left technology and communication as the worst-performing sectors from 2000 to 2010. Bernstein, whose New York-based firm manages more than $10 billion in assets, sees similar market conditions today to when enthusiasm got so great that technology stocks performed poorly for a decade, speaking during the Forbes | SHOOK Wealth Management Virtual Summit. He sees 2021 as a bullish year for those in the right stocks. There is so much going on today, how do you decide what is an event and what is just noise,” he adds. Bullish on expectations for 2021, he said earnings growth for the S&P 500 could be 50% to 70% or even as high as 100%.

Source: Forbes November 12, 2020 21:33 UTC