Own everything but bubble assets tech, crypto: investor Rich Bernstein

Institutional Investor hall of famer Rich Bernstein is a market bull whose playbook excludes some of Wall Street’s most popular groups.

He blames a risky see-saw dynamic playing out in the marketplace.

“On one side, we have all that I would call the bubble assets: tech, innovation disruption, cryptocurrencies,” the Richard Bernstein Advisors CEO and CIO told CNBC’s “Trading Nation” on Friday. “On the other side of this see-saw, you have literally everything else in the world. I think if you’re looking at 2022 into 2023, you want to be in the everything else in the world side of that see-saw.”

Bernstein believes a scarcity of capital will spell opportunities.

“That’s where your returns are…