, which is trading around two year lows. The greenback has dropped more than 6% over the past three months.
He sees it as a major negative wildcard for stocks because much of the last bull market was based on a strong dollar with low inflation. "A prolonged period of dollar weakness would bring that all into question, and certainly shift the leadership within the market to something much more pro-inflation oriented," he said. "It would certainly upset a lot of investors, and make their previous portfolios probably wrong for that new environment if the dollar were to continue to weaken.", Bernstein is particularly attracted to gold. It comprises about 8% of his firm's multi-asset portfolios.
"People think of gold as being a hedge against things like inflation. But I think they've missed gold historically has been a very good hedge against uncertainty," he added. "Now, it's got a little momentum tag to it."hit an all-time high of $1,941.90 on a nominal basis. But when adjusted for inflation, it was below the record level of $2,919.36 touched in January 1980.
"It's still worthwhile to have in a portfolio," Bernstein said. "The only thing that we know is certain over the next several year is that there's going to be more uncertainty."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This is not like the 90s tech mania because these companies have dependable profits, says SunTrustNew for subscribers: This is not like the 90s tech mania because these companies have dependable profits, says SunTrust Check out CNBCPro for a free trial. Pro utter utter vested interest charlatan permabullshit from them and shame on you for continually pushing this tripe Pro But their valuations are way out of whack relative to their profits. Pro oh okay
Source: CNBC - 🏆 12. / 72 Read more »
Market indicators signaling 'investor greed is present and thus caution is warranted,' MKM saysNew for subscribers: Market indicators signaling 'investor greed is present and thus caution is warranted,' MKM says Check out CNBCPro for a free trial. Pro Pro No way. Donald Trump will keep this market in tact. Don’t bet against him Pro Don’t get in the way of the realDonaldTrump train. This baby is going up up up
Source: CNBC - 🏆 12. / 72 Read more »
European stocks set to inch higher with U.S.-China tensions, China data in focusEuropean markets are set to open fractionally higher on Monday as investors continue to watch rising diplomatic tensions between the U.S. and China, while corporate earnings season gathers momentum. red index monday , sp500 dow jons , nasdaq
Source: CNBC - 🏆 12. / 72 Read more »
Investor Anxiety Turns to Greed, Driving Risky Market ‘Melt-Up’Stocks, bonds and commodities are heading for their strongest simultaneous four-month rise ever, an advance in the teeth of an economic slowdown that some investors find as worrying as it is remarkable. Dont fight the fed Are asset prices melting up or is stevenmnuchin1 & federalreserve destroying the currency in which they are measured? Momentum = Federal Reserve money printing inflating all asset prices
Source: WSJ - 🏆 98. / 63 Read more »