Rosenberg: We're Still In A Secular Bear Market

Joining Dennis Gartman and Rich Bernstein on CNBC this morning was uber-bear David Rosenberg, who reiterated his stance that the market has gotten ahead of itself, that we’re still in a long-term secular bear market, and that S&P 500 earnings estimates of $85 are ridiculous, as they’d represent a double.

But, he says, he’s not nearly as bearish as he was six-to-nine months ago. In March, he says, he “turned agnostic.” He reveals, amusingly, that he was hoping the market would get more oversold, a la 1982 levels, so that he could ride into Gluskin-Sheff and be a bullish hero.

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