Big Tech faces ‘way more’ than 10% downside, all-star investor Rich Bernstein warns
“Everybody seems to know when long-term interest rates rise you don’t buy long-duration bonds. But what people forget is you also don’t want to buy long-duration equities,” Bernstein, CEO and CIO of Richard Bernstein Advisors, told CNBC’s “Trading Nation” on Wednesday. “What’s a long-duration equity? Simply put, it’s one with a high P/E [price-to-earnings ratio].” … Read more