Richard Bernstein有困难。2000年3月，他发表了“关注风险资本家：离开硅谷为西德克萨斯州，”宣布技术股票价格过高，预测未来十年的真正资金将处于能源和商品中。在六个月内，Tech-Report纳斯达克综合指数截止了约40％。2005年8月，伯尔尼斯坦发布了一份报告，突出了家庭建筑公司顶级高管的内部高管销售数量上升的报告 - 尽管这些执行人员在街道街道方面是非常健康的事实。七个月后，房价在美国达到顶峰 - 而且在过去三年中，平均下降了超过30％以上。无论市场旋转是什么，伯尔尼斯坦可以看看它 - 很久以前认可的金钱经理人才。Bernstein joined Merrill Lynch, Pierce, Fenner & Smith from E.F. Hutton & Co. in 1988 and debuted in third place in Quantitative Research on the All-America Research Team in 1991. He went on to appear in the ranking 24 more times — including ten times at No. 1 — in Equity Derivatives, Portfolio Strategy and Quantitative Research, through 2008. He left the firm the following year (by then it had been acquired by Bank of America Corp.) to launch his own, Richard Bernstein Advisors. “I loved working for Merrill Lynch, but after 20 years I was looking to do something a little different,” says Bernstein, 53. “The problem with working on the sell side is the amount of travel necessary — the demands on your time and energy are unbelievable. People wonder if I left Merrill because of some deep dark secret, but I was just worn out. I needed to do other things.” RBA has 12 employees, seven of whom are on the investment side. “It’s hard for a small firm in a volatile market, but we’re here to stay,” he says. “I love having more control over my own destiny and more flexibility. Corporate has procedures, and I understand why they do — indeed, we will too one day — but for the time being I enjoy being free of those restraints.” Bernstein earned an MBA at New York University’s Stern School of Business; these days he’s an adjunct associate professor of finance at the school. He is also manager of the Eaton Vance Richard Bernstein Multi-Market Equity Strategy Fund. Although it has been accepting money for only 14 months, the fund has already attracted $470 million — much of that from Merrill Lynch financial advisers and from his own firm. “Senior partners have money invested,” Bernstein says. “It’s important to have skin in the game.”
他很高兴与投资者以自己的方式合作。“我有街头代表以客户为中心。Merrill Lynch可能与我有时不满意，“伯尔尼斯坦用笑声说道，”但这就是我的方式，以及我现在的方式。“
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