Market Uncertainty: More Than Just Tariffs Uncertainty in the markets isn’t just about tariffs or political headlines, Richard Bernstein, CEO & CIO of Richard Bernstein Advisors, recently told CNBC’s Power Lunch. It’s about the broader range of unknowns impacting investor confidence. While trade policies make headlines, they’re just one piece of the puzzle. Earnings forecasts remain highly unpredictable, influenced by multiple factors: employment trends, regulatory changes, global economic shifts, and broader policy uncertainty. This lack of clarity leads investors to demand a higher risk premium, says Richard, which is reflected in current stock market valuations. Since the start of the year, the forward price/earnings ratio of the S&P 500 has fallen from 25 to 20, representing a 20% decline. Richard says investors are reassessing risk and seeking more transparency before making long-term commitments. At iMGP, this is where we believe active management can make a difference. In an environment where uncertainty drives greater volatility, a disciplined, research-driven approach is essential. We take pride in partnering with expert asset managers like RBA, who apply active strategies to identify opportunities, manage risks, and navigate shifting market conditions, rather than simply following the broader trend. Watch the full interview here: https://lnkd.in/dcjV-Wpm
