FYI: The Great Recession occurred 10 years ago, but its psychological effects linger. That’s making investors more worried than they should be about a downturn in the market, says a longtime Wall Street strategist who now runs his own money-management firm.
“People have visions of 2008 dancing in their head, and I think that’s extreme, to say the least,” Richard Bernstein, CEO and chief investment officer of Richard Bernstein Advisors, tells Barron’s.
For one thing, “portfolio positioning has significantly changed from pre-2008 allocations,” Bernstein wrote in a note published this week. “Since 2008, individuals have focused on income rather than capital appreciation.”
Regards,
Ted
https://www.barrons.com/articles/why-fear-of-a-bear-market-for-stocks-is-irrational-51544803277?refsec=funds
