A nice catch by StockJockey at 1440 Wall Street:
Is Richard Bernstein the best strategist on the Street? Not in my book, but we will cut him some slack today - after all it is his last day at Merrill Lynch.
He is distilling his 20 years at Merrill into 10 investment guidelines:
Tomorrow will be my last day at Merrill Lynch. I want to sincerely thank my colleagues and clients for the opportunity to work with them. It is because of them that my 20 years at the firm have been so rewarding.
As a last report, here are what I view as 10 of the most important investment guidelines I’ve learned in my time at the firm:
1. Income is as important as are capital gains. Because most investors ignore income opportunities, income may be more important than are capital gains.
2. Most stock market indicators have never actually been tested. Most don’t work.
3. Most investors’ time horizons are much too short. Statistics indicate that day trading is largely based on luck. ...MORE