Richard Bernstein on Quantitative Analysis

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 10 March 2023

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bloomberg Radio host Barry Ritholtz speaks with Richard Bernstein, the chief executive officer and chief investment officer of Richard Bernstein Advisors LLC, which manages $14.6 billion in assets. Bernstein, who was previously chief investment strategist at Merrill Lynch, has been named to the Institutional Investor’s “All-America Research Team” 18 times and has been inducted into the Institutional Investor Hall of Fame. He is also the author of “Style Investing: Unique Insight into Equity Management,” which is widely viewed as the seminal book on style-oriented investment strategies, as well as “Navigate the Noise: Investing in the New Age of Media and Hype.”

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Transcript

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0:00.0	This is Masters in Business with Barry Rittholz on Bloomberg Radio.
0:09.8	This week on the podcast I have another extra special guest.
0:13.6	Rich Bernstein is a legend in finance circles.
0:16.9	He was the chief investment strategist at Merrill Lynch where he worked for more than 20
0:21.3	years.
0:22.3	Launched his own firm right into the teeth of the collapse in 09 which turned out to be
0:27.4	quite a fortuitous time to launch an asset management shop.
0:32.0	He is a macro top down guy with a strong quantity of background.
0:38.0	If you're at all interested in thinking about asset allocation, top down analysis, how
0:45.0	to think about the world of investing not as a stock picker but as a broad macro perspective,
0:53.5	one better than Rich Bernstein.
0:57.7	I think you will also with no further ado, RBA's Richard Bernstein.
1:04.5	Let's start talking a little bit about your career.
1:07.6	You get a BA in economics from Hamilton College, you get an MBA from NYU.
1:14.0	You go to a few firms before you end up at Merrill Lynch in 1988, not too long after the
1:19.5	crash.
1:20.5	Correct.
1:21.5	A little bit what Mother Merrill was like in the late 80s.
1:24.6	Merrill was a fantastic place to work.
1:28.4	I had, as you pointed out early in my career, I had bounced around a bunch of investment
1:31.8	banks.
1:33.8	What I learned through time was it was important when I interviewed to interview the
	...

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