I know there are some in the blogosphere who like to ridicule me for quoting the people who I've gotten to know on Wall Street, thinking that I'm either making up stories, trying to show off, or who knows what. Well, spending over 10 years as morning anchor on WBBR, a 50,000 watt A.M. business station in NY in its heydays during the 1990s, and then anchoring on Bloomberg Television during its early years put me in contact with a lot of interesting people. I was lucky to have had the opportunities to speak to the people who I spoke to and cultivate some long lasting friendships and contacts.
From a blogging perspective, I've been sharing my recent interactions in hopes that it will give you some further perspective on the markets at this critical time. I want to put real authority into the things I am writing here by quoting influential sources so that it goes beyond my mere blogger's opinion.
Some will find this even more unbelievable. Rich Bernstein lives around the block from me. Our children have been going to the same schools for many years. Before Rich became chief strategist at Merrill he was known for speaking his mind and injecting a dose of reality into the picture even during the times when it didn't gel with the rah rah Wall Street crowd. He was right many times, which is one reason he is chief investment strategist at Merrill. They don't come any nicer, or smarter than Rich on Wall Street.
Merrill’s Bernstein predicts more market volatility soon