Richard Bernstein Market Quotations

What we're seeing today is a relief rally from last week, ... There is really nothing to hurt the market today. All the techs are rebounding well.

From our lens, the U.S. housing market has become seriously overextended and a correction looms, posing the largest risk to 2006 consumer spending.

I don't think people realize the market has been flat for the past seven years ? people don't realize that because there have been big ups and downs. But without market volatility, the market hasn't done much.

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.

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

We have commented that there is a thin line between a liquidity-driven market that anticipates improving fundamentals and a bubble. The equity market may have stepped over that line.

There is a thin line between a liquidity-driven market that anticipates improving fundamentals and a bubble,

The day that you should be concerned about the market is a day when there is no fear about what's going on. Certainly we have innumerable negatives that people can point to right now. I would argue that's actually quite healthy.

What we're seeing today is a relief rally from last week. There is really nothing to hurt the market today. All the techs are rebounding well.

The market might reward some companies during the second half of 2004 for producing better-than-expected earnings because of the tax windfall, ... but history suggests that the market will penalize those same companies if their earnings decelerate in 2005 from 2004's tax-induced growth.