David Rosenberg has been on something of a media tour since leaving Merrill Lynch and joining Torotno wealth manager Gluskin Sheff. He did a long interview with Canadian business station BNN, which touches on his plans at the new firm. Unfortunately it can’t be embedded.
Below though is his followup interview on Bloomberg. He acknowledges that the freefall is really over. There’s almost nobody who will say otherwise. But he sees no green shoots, and he says bears who are counting things like “cash on the sidelines” are wrong. That cash won’t be going into stocks, but rather household balance sheets, which remain deeply damaged. He also suggests we may see a retouch of the March lows, noting that at the end of last year, it was assumed that we’d put in a meaningful low in November, only to see it broken again.
The clip is a little long, 12 minutes, but fans of his will enjoy it.
Business Insider Emails & Alerts
Site highlights each day to your inbox.