Rich Bernstein, a famous Wall Street investor, has sounded a warning about the largest long-term asset bubble from big tech companies to Bitcoin and the meme popular among retail traders on the Internet. Reddit platforms, all the way to long-term bonds.
According to Arab Net, Bernstein, who serves as CEO and CIO at Richard Bernstein Advisors, told CNBC: "It's the biggest bubble I've seen in my career. He points out that it may be bigger than the Internet bubble and the mortgage crisis that led to the global financial crisis.
Bernstein attributed the reason to the Fed's policies, saying: The Fed has distorted the long end of the curve to the point where we are seeing a very natural reaction among long-term assets. which then takes a path of its own.
He added, "Anyone who is exposed to these long-term assets should be absolutely convinced that long-term interest rates will not rise because that is the reason for this bubble."
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He also said that people are dominated by short visions during bubble times.
Bernstein, also known for his previous work in the strategy department at Merrill Lynch, recommended investing in goods and materials, noting that energy prices had risen over the past six or twelve months. The past, at a time when investors see these rises as unsustainable, while Bitcoin was witnessing violent declines and entered a bear market, but everyone is waiting for its return to rise.
