Bernstein's commentary.

An interesting take by Richard Bernstein.

Bernstein then lists six capital-intensive danger areas: 1) China, 2) emerging market infrastructure, 3) small stocks, 4) indebted U.S. consumers, 5) financial companies, 6) commodities and energy companies. As I said, the guy's worth paying attention to.

Multi-year leadership change is underway, according to Richard Bernstein.

I will elaborate on some of these points in a later post.