MUST SEE (HEAR) DAVID ROSENBERG INTERVIEW (UPDATED)
24 July 2009 by Cullen Roche
10 Comments
Two good interviews here with Rosenberg. The first one is from BNN. The second from Bloomberg has been down due to technical issues at their site so if it doesn’t load come back and try later:
David Rosenberg here on Bloomberg Surveillance. He talks about everything from baseball to the likelihood of a 2002 like collapse in the stock market. It’s an audio file so give it a minute to load.
Cool! Rosenberg is good.
Is there a transcript for this?
Error: av content requested is not available.
I guess it’s been taken down already …
Nope, Bloomberg audio is down.
Sorry guys,
Looks like the direct link on the bberg site is down. Hopefully they get it up and running soon. Also, I have provided the transcript below:
Tom Keene, Bloomberg: David, great to have you with us. What do you think about this market?
David Rosenberg: I think the latest rally is total BS and that the underlying fundamentals do not justify the move at all. The market will retrench in the coming 3 months.
Tom Keene: Thanks for coming Dave!
Just kidding of course. It’s a great interview, but that is the basic gist of it….
FWIW,
I was able to get it to play audio/video here:
http://watch.bnn.ca/#clip196705
Thanks Purple,
I threw the video up as well.
I like Rosenberg but he has made no one money for months. He has told people to sit on their hands while one of the greatest rallies in our life (or anyone’s) has happened.
I don’t care if he is intellectually correct; I can read the same concepts on countless economic blogs. He is supposed to be a strategist. As one he has utterly failed the past half year. Very few times in a lifetime will you have a rally to take advantage like this.
And please don’t tell me he saved people money on the way down; you can stop loss and be out quite easily once the market works against you. By the way, I agree with much of what he says but that does not make me money. And that is the bottom line of the stock market. Not fireside chats discussing why the market doing what it is, has been wrong for 5 months straight. That doesn’t pay the bills.
Go Rosie.
Zman,
That’s why you should read TPC
Let me decipher the short term moves. I kid. On a serious note Rosenberg has always been known for making long cyclical calls rather than trading calls. When I worked at Merrill he was bearish throughout the entire 2003-2007 bull market which turned out to be right, but was entirely wrong for years. His long-term cyclical calls are second to none and almost always end up being right. He is not a trader. It’s an important distinction to make note of.
And he has a tendency to exaggerate on the edges. He said we would see 1M print on jobs in mid 09.