I think a knowledge of history, of financial market history, not just in the US, but around the world, I think is critical. People believe that every cycle is something new, right? It's never happened. We've never seen this before. And so to your question more specifically, I would say right now is a combination of two different periods. One period would be late 70s, early 80s where we started with supply chain disruptions and turned into a full-scale wage and price spiral.
Shoppers may need to switch from steak to bologna, but they still need to eat. That’s just one reason for investors to watch consumer staples if you’re concerned about a recession.
Richard Bernstein is the CEO and Chief Investment Officer of Richard Bernstein Advisors. Before that he was the Chief Investment Strategist at Merrill Lynch. Motley Fool Senior Analyst John Rotonti caught up with Bernstein to discuss:
- How growth stories can change through time. - Sectors showing the power of compounding dividends. - If a “Fed Put” still exists.
Members of any Motley Fool service can watch the full interview here: https://www.fool.com/premium/live/video/4056/coverage/2022/11/16/interview-richard-bernstein-ceo-cio-richard-bernst/
Host: John Rotonti Guest: Richard Bernstein Producer: Ricky Mulvey Engineers: Heather Horton, Dan Boyd
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