Pro Talks: Richard Bernstein on what drives stocks

Investors get distracted constantly by economic data, politics and other noise, but there's only one thing that matters to stock prices: profits, according to veteran strategist Richard Bernstein, who shared this and many other facets of his investment philosophy during an in-depth interview for CNBC Pro.

The CEO of Richard Bernstein Advisors, a 30-year veteran of Wall Street and one of its most widely followed analysts, also revealed to CNBC's Michael Santoli:

  • The huge value trap looming in the market right now.
  • The No. 1 mistake investors make that kills their returns.
  • Where the biggest opportunity for investors is right now.