UPDATE 1-Former Merrill strategist starts firm-CNBC

NEW YORK, July 10 (Reuters) - Former Bank of America- Merrill Lynch (BAC.N) chief investment strategist Richard Bernstein is starting his own capital management company, he told CNBC television on Friday.

After more than 20 years as a Wall Street strategist, Bernstein left Bank of America-Merrill Lynch in March at the same time Merrill chief North American economist David Rosenberg also left. The two were among the best-known Wall Street analysts at the time of their departure.

Bernstein, currently an adjunct professor of finance at the New York University Stern School of Business, said he is going to be concentrating on "very long-term, theme oriented investing," saying he has been critical of people "for shortening their time horizon."

No one at Bernstein's office at Stern was immediately available for comment. (Editing by Andre Grenon)