Bearish Bernstien Becomes Berry Bullish
Ok, that's my best attempt at being creative. Richard Bernstien appeared on Fast Money last night to talk about some of his bullish calls for 2010. I'll take their word for his bearish stance earlier this year, but I'm not sure all of his calls are so bullish. At least, he is more bullish now and we're agreeable with that switch. Stone Fox Capital definitely agrees with the points that stocks will be positive because of higher profits and that small caps are likely to outperform. We're not so agreeable that the dollar will rally and end the carry trade with the massive government spending and debt planned. Below we give out opinions of his points. 1. Stock and bond market returns in the US will again be positive. 2. The US dollar is likely to meaningfully appreciate once market-driven short-term rates begin to rise. [ When they do rise it'll be long after most other countries and the rate will be much lower. We just don't see the dollar rising against mos...