Institutional Investor Hall of Famer Richard Bernstein is making a bearish contrarian call on earnings.
Despite Wall Street’s strong appetite for stocks right now, Bernstein believes there’s a high probability corporate earnings will come in negative next year.
“The one thing that people are kind of missing out [on] here is that earnings in the United States are still decelerating,” the CEO of Richard Bernstein Advisors told CNBC’s “Trading Nation” on Wednesday. “By our work, we would argue that the first half of 2020 you could actually see a full-blown profits recession.”
