Where He Works:
Deutsche Bank
What He Does There:
Chief U.S. Equity Strategist
Why He Matters And What He's Saying Now:
Bianco left BofA in September 2011 after making a controversial call that stocks were going up during a period of excessive negative sentiment. However, stocks ended up turning out just like he said they would, proving him right. Bianco argues that just because profit margins are at record highs, that doesn't mean they are unsustainable – after all, effective tax rates are lower, interest costs are lower, foreign profit margins are higher, and foreign sales as a share of total sales is on the rise. In the short term, however, Bianco's latest call is that the likely next 5+% move for the S&P 500 is down.
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