Richard Bernstein Investors Quotations

I think many investors have failed to make the link between global growth and the U.S. housing market. The U.S. consumer remains 20 percent of the global economy, and a slowdown in housing and, in turn, U.S. consumption could hurt emerging market exports.

Most individual investors get caught up in the hype. They forget that the constant reinvestment of dividends can be a huge component of building wealth.

We continue to believe that the market is riskier and more speculative than most investors believe.

We continue to believe that longer-term investors should focus on yield.

There has been record insider selling within the last 10 months across a broad range of homebuilding companies despite very few sell ratings by Wall Street analysts and the general perception by investors that the stocks are undervalued.

We think it is now time for investors to switch from income statement variables to balance sheet variables when picking stocks, ... Portfolios in which stock selection was based on strong balance sheets tend to outperform those based on income statements when the profits cycle decelerates.

Private investors are usually late to the party.

Stocks with significant foreign exposure should help to support stocks. If the dollar continues to fall and commodity prices remain strong, then earnings are likely to be stronger than investors currently expect.