Investor Richard Bernstein is warning that the nation’s supply chain issues are going to have a negative effect on the economy in the long term and that housing, tech and bitcoin investments are all in a bubble. 

Bernstein told CNBC’s “Trading Nation” in August that the American economy “may be in the biggest bubble of my career.”

“The Fed has so distorted the long end of the curve that we are seeing a very natural reaction among long-duration assets which is then taking on a life of its own,” said Bernstein. “Anybody who’s out there in these long-duration assets has to be firmly convinced that long-term interest rates are not going to go up because that’s the kryptonite for this bubble.” 

Bernstein believes cryptocurrencies such as bitcoin are in a bubble and their long-term growth will not be sustainable. Bitcoin is currently valued at $61,496.71 after hitting its all-time high of $66,000 just a week ago.

Bernstein also believes that housing is in a bubble that makes the mid-2000s housing bubble look mild by comparison.

″[Home prices are] now accelerating more than what you saw during the housing bubble,” he said. “The rate of change now is higher than anything you saw during the housing bubble in 2005, 6, 7, 8.”

Investor Peter Boockvar in August warned that first-time homebuyers are more vulnerable to dramatic losses because the supply of homes cannot keep up with demand.

“People are now seeing sticker shock in home prices and they’re backing off,” said Boockvar. “Buyers ... said, ‘I can’t afford this’ or ‘I want to wait to see home prices cool down.’ ”

Bernstein noted the supply chain disruptions have lasted longer than they did in the 1970s, adding that the oil embargo “changed the way people thought about inflation for 10 years.”

Bernstein recommends owning pro-inflation assets in energy, commodities and industrial stocks, noting they have a "world of opportunity."