WEALTHTRACK
Strategist Richard Bernstein on Successful Investment Themes of The Past and His Favorite One Now
Jul 3, 2024
Renowned strategist Richard Bernstein discusses successful investment themes over the last two decades and focuses on deglobalization and reindustrialization. He compares active vs. passive investing, highlights market leadership, AI narratives, and de-globalization as investment themes, and emphasizes conservative investing and diversification to build wealth.
25:49
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Quick takeaways
- Dividend compounding has been a successful wealth-building theme over the last 20 years.
- De-globalization is a significant long-term investment theme, shifting towards secular inflation and U.S. economic independence.
Deep dives
Investment Themes Over the Last 20 Years
Over the last 20 years, dividend compounding has been a successful wealth-building theme. Additionally, shorter-term themes have depended on the profit cycle, rotating between cyclical and defensive investments based on profitability. The first decade was dominated by energy, commodities, and emerging markets, while the second decade saw growth driven by monetary and fiscal stimulus with a focus on speculative growth investments.
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