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Own everything but 'bubble assets' tech and crypto, recommends Institutional Investor hall of famer Rich Bernstein
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cnbc.comInstitutional Investor hall of famer Rich Bernstein is a market bull whose playbook excludes some of Wall Street's most popular groups.
He blames a risky see-saw dynamic playing out in the marketplace.
«On one side, we have all that I would call the bubble assets: tech, innovation disruption, cryptocurrencies,» the Richard Bernstein Advisors CEO and CIO told CNBC's "Trading Nation" on Friday. «On the other side of this see-saw, you have literally everything else in the world. I think if you're looking at 2022 into 2023, you want to be in the everything else in the world side of that see-saw.»
Bernstein believes a scarcity of capital will spell opportunities.
«That's where your returns are higher,» he said.
His number one pick is energy, a
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