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Investors / stance tracking

What David Rosenberg is saying

Economist — Rosenberg Research

89 dated public stances tracked since 2017-06-20, most recently 2026-09-02. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.

The stances below are c8alpha's editorial distillation of David Rosenberg's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. David Rosenberg is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.

Think we got something wrong? Report a misattribution — we correct it or take it down.

89
tracked stances
42
themes
1
side flips
2026-09-02
last heard
Returns  90d +1.1% (n=68) · 180d +2.7% (n=68) · 1y +8.3% (n=52)

Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances.

View flips

Where the tracked view on a theme reversed between appearances — bullish to bearish or back. Dates are the episodes on each side of the turn.

Long Dur Treasuries — bullish2025-06-09 → bearish2026-08-21

Most-argued themes

ThemeStancesLeanMixLast
GOLD1010 bullish2026-09-02
SPX1010 bearish2026-09-02
Long Dur Treasuries97 bullish / 2 bearish2026-09-02
USTS66 bullish2026-09-02
DEFENSE33 bullish2026-03-05
USD33 bearish2026-09-02

Tracked stances

bullish / bearish is a view they argued; owns / short is a position they said they hold.

1 newer stance from David Rosenberg is in The Brief — subscribers hear it first; this page updates a week later.
2026-09-02 USTS bullish David Rosenberg · video
EM local-currency bonds provide cash flow yield that beats the S&P's 1% dividend while benefiting from a secular USD bear market, as the portfolio is deliberately constructed 70% inversely correlated to the dollar
“I've got local currency emerging market bonds in there as well”
Yields Explode, Fed To ‘Make A Big Blunder’ Hiking Into Oil Shock | David Rosenberg
2026-09-02 USD bearish David Rosenberg · video
The US dollar is in the early stages of a fundamental secular bear market, evidenced by the portfolio being deliberately constructed 70% inversely correlated to the dollar to capture this multi-year trend
“the US dollar we are in the early stages of a fundamental bare market”
Yields Explode, Fed To ‘Make A Big Blunder’ Hiking Into Oil Shock | David Rosenberg
2026-09-02 SPX bearish David Rosenberg · video
Rising risk premia from a Fed hiking into a 1.5% growth, oil-shocked, AI-concentrated economy is compressing multiples; breadth indicators and moving averages are already deteriorating, warranting de-risking at the margins
“you want to at the margins start d-risking in the stock market”
Yields Explode, Fed To ‘Make A Big Blunder’ Hiking Into Oil Shock | David Rosenberg
2026-09-02 Long Dur Treasuries bearish David Rosenberg · video
Reset of Fed rate-hike expectations under new chair Worsh has driven the 10-year up 80bps from the February low and added an inconsistency risk premium, making long-duration bonds a freight train to stand in front of until the risk premium resolves
“you don't really want to take on duration in the bond market”
Yields Explode, Fed To ‘Make A Big Blunder’ Hiking Into Oil Shock | David Rosenberg
2026-09-02 GOLD owns David Rosenberg · video
Gold and miners capture pricing power from recurring supply shocks in goods inflation and provide a hard-asset hedge that benefits from an early-stage secular bear market in the US dollar
“I've got exposure to gold and the miners”
Yields Explode, Fed To ‘Make A Big Blunder’ Hiking Into Oil Shock | David Rosenberg
2026-09-02 OIL bullish David Rosenberg · video
Supply-demand balance structurally favors higher oil prices independent of the Iran war escalation, and oil serves as a portfolio hedge against both geopolitical risk and goods-sector inflation in an environment where the Fed is ignoring commodity price…
“the supply demand balance is still going to favor higher oil prices”
Yields Explode, Fed To ‘Make A Big Blunder’ Hiking Into Oil Shock | David Rosenberg
2026-09-02 long URANIUM / long RARE EARTHS / long ENERGY / long BASE METALS basket David Rosenberg · video
A new secular theme of security of supply across energy, food, and critical materials — amplified by the Russia-Ukraine war, Hormuz closure, and El Niño — creates durable pricing power for uranium, rare earths, pipelines, and base metals as a group
“security of supply when it comes to food and energy and critical minerals”
Yields Explode, Fed To ‘Make A Big Blunder’ Hiking Into Oil Shock | David Rosenberg
2026-09-01 MSCI owns Wealthion · video
Rosenberg plays the AI theme through emerging Asia rather than US tech ETFs, capturing semiconductor exposure (Korea, Taiwan) at far lower valuations and without the bubble-level investor behavior surrounding US AI names.
“We decided to play AI differently — by being long emerging Asia”
David Rosenberg: “Every Bubble Pops” — Markets Aren’t Ready
2026-09-01 US TECH / AI EQUITIES (SHORT / AVOID) bearish Wealthion · video
The AI boom is a bubble driven by investor behavior rather than technology itself — margin debt has surged 50% in a year to $1.5 trillion (double the market's 25% gain), bullish sentiment hit an all-time 78%, household equity allocation is at a record 73%…
“I don't mind calling it a bubble. Every bubble pops.”
David Rosenberg: “Every Bubble Pops” — Markets Aren’t Ready
2026-08-21 Long Dur Treasuries bearish David Rosenberg · video
New Fed chair's inability to articulate a credible path to 2% inflation embeds a risk premium into duration, while surging long-dated issuance from AI hyperscalers (now free-cash-flow negative) competes for capital at the long end of the curve—both forces…
“you don't want to own duration when you have that level of uncertainty”
David Rosenberg on whether he would bet against long-term Treasuries
2026-08-20 USTS bullish Wealthion · video
The front end of the yield curve is still pricing at least one more Fed hike that Rosenberg believes will never come, and the Fed's next move will instead be a rate cut as growth runs below potential and the labor market softens — making 2s and 3s mispriced…
“The two-year note is actually a very good place to be. Two years and three years in that part of the curve.”
David Rosenberg: The Economy Is More Fragile Than You Think
2026-03-05 GOLD owns David Rosenberg · video
Gold remains a portfolio hedge given macro fragility and fiscal imbalances, though gains have been partially booked; silver was fully exited when it began trading like a speculative asset
“we're still somewhere between 5 and 10% on gold and the gold miners”
90d -12.5% · 180d -14.9%
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-03-05 SPX bearish David Rosenberg · video
CAPE near 40x (second-highest on record) combined with a near-zero or negative equity risk premium against 2.6% real long-bond yields, while consumer spending depends entirely on an unsustainable savings rate drawdown — mean reversion in any of these…
“40 CAPE multiple, the second highest on record… the ERP is actually negative… everybody believes equities have become a riskless asset class — that's going to be the big surprise”
90d -11.0% · 180d -12.4%
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-03-05 USTS owns David Rosenberg · video
The Fed has talked markets out of pricing rate cuts but more cuts are coming than consensus expects, making the front end undervalued
“there's not enough Fed rate cuts priced in — I'm on the other side of the trade as the FOMC hawks”
90d -1.6% · 180d -2.6%
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-03-05 ENERGY bullish David Rosenberg · video
Hard assets that spin off recurring revenue streams offer cash-flow-supported, yield-oriented returns with lower dependence on equity multiple expansion in a fragile macro environment
“the hard assets that spin off a revenue stream — we're very cash flow sensitive — the pipelines, the utilities, energy infrastructure”
90d +4.6% · 180d +16.3%
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-03-05 HEALTHCARE SECTOR owns David Rosenberg · video
Healthcare provides defensive positioning uncorrelated from the stretched AI/tech trade in an environment where consumer fragility and equity valuation risk are elevated
“we do like healthcare — we've been there”
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-03-05 DEFENSE bullish David Rosenberg · video
The US-Iran conflict is a direct structural tailwind for defense, which has been one of the few equity sectors rising through the geopolitical turmoil
“aerospace defense to us has been a no-brainer and one of the few sectors to be going up through this conflict with Iran”
90d -6.3% · 180d -5.9%
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-03-05 EQUAL-WEIGHT CONSUMER STAPLES owns David Rosenberg · video
Consumer staples offer defensive, yield-oriented exposure without the dangerous valuation concentration in mega-caps like Walmart and Costco that trade at elevated multiples
“one of our recent moves was into the equal weight consumer staple sector — we just don't want to own like two names”
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-03-05 MSFT bullish David Rosenberg · video
Microsoft trades at an attractive multiple relative to other large-cap AI-era names and offers defensive growth characteristics — a contrast to Walmart where the valuation is too stretched
“there's another defensive growth company trading at a very attractive multiple called Microsoft”
90d +4.3% · 180d +22.5%
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-03-05 long EUROPEAN AND ASIAN EQUITIES / short SPX pair David Rosenberg · video
European and Asian equities command superior valuations relative to the US, warranting a heavy structural overweight in non-US developed markets vs a deliberately lean US allocation
“we have 35% in Europe and Asia — they command just superior valuations”
"Significant Strain" Ahead For The Economy | David Rosenberg
2026-01-21 GOLD bullish video
Gold is the reciprocal of confidence in central banking; as Fed credibility erodes and markets sober up from speculative excess, gold structurally outperforms — evidenced by gold +65-70% vs. Bitcoin -6% in 2025
“price of gold is the reciprocal of people's confidence in central banking”
90d -3.2% · 180d -17.1%
2026-01-21 SPX bearish video
The Shiller CAPE at 40 is a 3-sigma event — higher than 1929 and the Nifty50 peak — and every historical period with CAPE above 35 shows consistently negative total returns over 1, 3, 5, and 10-year horizons; the equity risk premium has also turned slightly…
“we're in extra innings... when you're north of 35, the total return of the S&P is consistently negative”
90d -3.0% · 180d -8.9%
2026-01-20 USTS bullish Jeffrey Gundlach · video
Fed is far behind the curve with unemployment heading to 6% and core inflation ex-tariffs near 2.2% and falling, meaning the front end will rally as the Fed is forced to cut toward 2%
“I like the front end of the curve for this year as a tradeable strategy”
90d +1.3% · 180d -0.2%
DoubleLine Round Table Prime 2026: Macroeconomic Outlook
2026-01-20 US FEDERAL FUNDS RATE / FED RATE CUTS bullish Jeffrey Gundlach · video
With unemployment projected to hit 6% and core inflation falling toward 1% by year-end, the Fed will be forced to cut the policy rate from current levels all the way to 2%, far more than the two cuts currently priced in
“I think we will close the year with the funds rate at 2%”
DoubleLine Round Table Prime 2026: Macroeconomic Outlook
2025-12-19 GOLD bullish David Rosenberg · video
Global central banks are structurally reallocating reserves out of USD into bullion, driving demand growth of 2-3% against supply growth of only 1%, while elevated geopolitical uncertainty and fiscal instability provide additional tailwinds.
“buy gold”
90d +6.9% · 180d -2.6%
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-12-19 Gold Miners bullish David Rosenberg · video
Gold miners have significantly lagged spot gold and are currently priced for only ~$3,000/oz gold, creating optionality and downside protection relative to holding physical metal at current or higher spot prices.
“gold mining stocks are only priced for gold at just over $3,000 an ounce”
90d -4.9% · 180d -3.2%
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-12-19 CONSUMER DISCRETIONARY bearish David Rosenberg · video
Rising non-substitutable fixed costs — auto insurance, health insurance, property insurance, and electricity — are consuming household budgets and crowding out spending on discretionary goods and services, especially as tax refunds will be 100%+ absorbed by…
“which area of the stock market would I avoid for next year, I would avoid consumer discretionary”
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-12-19 CANADIAN PIPELINES owns David Rosenberg · video
Power grid revamping and LNG expansion create durable throughput demand for pipeline infrastructure, and the asset class is not correlated with the oil price, which Rosenberg sees as having a weak outlook potentially breaking to $40.
“we have Canadian pipelines. We have a big position there”
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-12-19 SPX bearish David Rosenberg · video
Shiller CAPE at 40x is the 6th mega-bubble of the past century; at this multiple, historical expected returns are negative across every time horizon from 1 to 10 years, the equity risk premium is effectively zero, and 80% of bear market drawdowns come from PE…
“the future one year, three year, five year, and ten year returns in the S&P 500 are all negative across the board”
90d +3.1% · 180d -9.2%
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-12-19 High Yield bearish David Rosenberg · video
Credit spreads are pricing a corporate default rate decline from 6% to 3%, which Rosenberg views as unrealistic given deteriorating labor markets, rising small business stress, and an aggressive private and public refinancing calendar ahead in 2026.
“credit spreads are just stupid tight”
90d -0.1% · 180d -1.7%
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-12-19 NATURAL GAS bullish David Rosenberg · video
AI-driven electricity demand and LNG export expansion create structural demand for natural gas, while prices near $5 have proven sticky, the commodity is uncorrelated with oil (which faces weak fundamentals), and a colder-than-normal winter adds near-term…
“I wouldn't be surprised if that's going to be the big winner of 2026”
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-12-19 SILVER bullish David Rosenberg · video
Silver benefits from the same central-bank-driven precious metals macro tailwind as gold and should participate in the broader precious metals complex rally in 2026.
“you'll make money again in silver”
90d +7.8% · 180d -0.5%
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-12-19 US UTILITIES bullish David Rosenberg · video
Surging electricity demand from AI data centers and a secular power-grid revamp create durable revenue streams that are non-discretionary and cycle-resistant, while household spending is redirecting from consumer discretionary directly toward utility bills.
“maybe you're being better off being in utilities”
David Rosenberg: Markets Are Propped Up by the S&P 500 - and That’s the Risk for 2026
2025-11-03 GOLD owns video
Global central banks are in a secular reallocation back toward gold — vaults went from over 70% gold weighting down to ~10% over 20 years and are now just above 20% and climbing — creating structural demand that supports gold, silver, and leveraged miner…
“we probably have between gold, silver, and the miners in our model portfolio, we're over 20% exposed to precious metals”
90d +15.8% · 180d +12.5%
2025-11-03 UK GILTS owns video
UK inflation expected to fall faster than consensus, fiscal tightening under Starmer contrasts sharply with US deficit expansion, forcing the Bank of England to cut rates more aggressively than priced, while current elevated gilt yields offer better carry…
“we think the Bank of England is going to be forced to cut rates… we acted on it”
2025-11-03 JPY (JAPANESE YEN) bullish video
Fundamental valuation models show yen should trade at 120-130 versus the dollar, implying significant upside as dollar weakness accelerates and BoJ normalization continues
“our work shows it should be 120 to 130”
2025-11-03 long USTS / long VOL hedge video
A Supreme Court ruling against Trump on tariffs is an underpriced tail risk that would simultaneously spike Treasury volatility (via ~$350B of deficit expansion and policy chaos) and equity volatility (knee-jerk risk-off + uncertainty about retaliatory…
“your best hedge would probably be buy the move index and buy the VEX”
2025-06-09 European Equities bullish Wealthion · video
Europe offers better valuations, a strengthening currency, an ECB cutting rates with inflation already below 2%, and fiscal clarity — including a major defense-spending fiscal bill — without the political dysfunction weighing on US assets
90d +3.4% · 180d +7.2% · 1y +16.8%
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 Long Dur Treasuries bullish Wealthion · video
With the 10-year at ~4.5%, yields must rise 70bps (above the Oct 2023 cycle peak) to generate zero return, while a 70bp rally yields +10% — asymmetric convexity that is attractive given softening labor markets and decelerating underlying inflation
“up 70 beeps zero, down 70 beeps plus 10%”
90d +6.2% · 180d +5.1% · 1y +4.2%
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 SPX bearish Wealthion · video
Forward P/E of 21 is pricing in a near-zero risk-free rate while cash pays 4.5% — the equity risk premium is at its most extreme since summer 2007, and almost all of the rally off April lows came on four headline-relief days, signaling a sentiment-driven…
“the trough multiple was 18 — 18 is cheap, right? That's the narrative”
90d -8.5% · 180d -14.7% · 1y -24.3%
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 GOLD bullish Wealthion · video
Gold's value is inversely proportional to certainty; with global fiscal deficits normalizing at emergency levels, USD in a bear market, and three-quarters of global central banks buying gold every month, the historical bull-market pattern projects a peak near…
“in this bull market the peak will be somewhere close to $6,000 an ounce”
90d +9.2% · 180d +25.7% · 1y +27.4%
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 USD bearish Wealthion · video
The Trump administration's goal of eliminating bilateral trade deficits signals a structural reduction in capital inflows that fund the current account, which necessarily weakens the dollar; foreign investors are already reallocating away from US assets as…
“the price of the dollar is telling you that something is being sold in the United States”
90d +0.2% · 180d -2.7% · 1y -5.8%
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 UTILITIES SECTOR bullish Wealthion · video
Utilities are correlated with declining bond yields, provide fat dividend yields and earnings stability in a slowdown, and are low-beta defensives that should outperform as the Fed resumes rate cuts by September
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 CONSUMER STAPLES SECTOR bullish Wealthion · video
Drugstores, food producers, food retailers, and tobacco offer fat dividend yields, dividend growth, low correlation to GDP, and earnings stability in a recession — the ideal defensive positioning for a weakening consumer backdrop
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 Gold Miners bullish Wealthion · video
Gold miners are still trading at huge discounts to physical gold prices despite the same macro tailwinds — rising gold, USD weakness, and central bank buying — providing a leveraged and undervalued way to capture the gold thesis
90d +29.0% · 180d +51.9% · 1y +49.9%
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 SILVER bullish Wealthion · video
Silver is playing catch-up to gold's move while also benefiting from industrial demand, offering exposure to both the precious metals bull market and real-economy growth in manufacturing and technology
90d +12.3% · 180d +57.9% · 1y +76.7%
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-09 DEFENSE bullish Wealthion · video
Rising geopolitical tensions are forcing even historically pacifist nations like Japan to increase military budgets, creating visibility in defense order books and production globally — best accessed through a global (not US-only) defense ETF
“you look at the order books, you look at shipments and production, that is one part of the stock market I like a lot”
90d +8.3% · 180d +12.4% · 1y +26.9%
David Rosenberg: Gold to $6,000 & Why the U.S. Dollar Is Losing Its Power | Part II
2025-06-05 HOUSING bearish Wealthion · video
Housing is in its own recession — qualifying income for a median-priced home is $100K while the median first-time buyer earns only $70K, and 7% mortgage rates make the sector structurally uninvestable until rates fall
“the home builders are still stuck in a fundamental bare market”
90d -18.7% · 180d -13.2% · 1y -8.7%
David Rosenberg: Recession Is Already Here & the Fed Is Blind to It | Part I
2025-06-05 SPX bearish Wealthion · video
Equity and credit markets have priced in zero recession probability despite the Fed's own Beige Book showing 75% of the economy contracting or stagnating and soft-data models implying -1.3% real GDP growth, making current valuations deeply mispriced
“how much in denial risk on investors are right now... there's no recession priced in at all”
90d -8.9% · 180d -15.6% · 1y -25.8%
David Rosenberg: Recession Is Already Here & the Fed Is Blind to It | Part I
2025-02-07 USTS bullish Wealthion · video
T-bills yield 4–4.5% with zero duration risk and zero capital risk, making cash a genuine risk-adjusted return in an environment of elevated macro uncertainty where equities may struggle.
“cash is no longer trash — I'd be owning treasury bills”
90d +2.2% · 180d +4.7% · 1y +7.2%
2025: A Year of ‘Heightened & Elevated Uncertainty’ | David Rosenberg
2025-02-07 GOLD bullish Wealthion · video
Gold is trading as a currency rather than a commodity — no government's liability — and gains in every currency including USD signal structural demand; if the dollar bull eventually breaks when the Fed cuts in H2, gold's upside accelerates further.
“gold is no longer trading as a commodity, it's trading as a currency that is no government's liability”
90d +15.4% · 180d +17.7% · 1y +77.0%
2025: A Year of ‘Heightened & Elevated Uncertainty’ | David Rosenberg
2025-02-07 long URANIUM / long FARMLAND / long BASE METALS basket Wealthion · video
In a world of rising sovereign debt and heightened uncertainty, hard real assets (uranium, farmland, base metals) provide a hedge against both inflationary and deflationary outcomes when financial assets may be impaired.
“you want to have Commodities, uranium, Farmland, base Metals — real Assets in a period of heightened uncertainty”
2025: A Year of ‘Heightened & Elevated Uncertainty’ | David Rosenberg
2025-01-07 SPX bearish Wealthion · video
Consumption is increasingly driven by a wealth effect concentrated in the top 10-20% of income earners—explicitly analogous to the late-1990s tech bubble and pre-GFC housing boom—making the macroeconomy highly levered to an equity correction that would…
“it's markets driving macro right now not macro driving markets”
90d +14.1% · 180d -6.1% · 1y -18.5%
2025 Market Crash? Inflation Risks & Economic Shifts Revealed | Dylan Smith
2024-12-27 SPX bearish Wealthion · video
Equity risk premium has collapsed from 40bp to ~10bp as markets price in massive tax cuts that are unlikely to materialize given a razor-thin, fractious House majority packed with fiscal conservatives who will resist them
“the market is way premature and expecting...the tax cuts that were being promoted during the campaign”
90d +4.4% · 180d -2.6% · 1y -17.0%
Speak Up’s Best Of 2024: David Rosenberg
2024-12-05 Long Dur Treasuries bullish David Rosenberg · video
Disinflationary trend is intact, large tariff hikes are unlikely under Trump's economics team, and a cooling labor market will push the Fed back toward more cuts, driving rates lower over time
“I do believe that the trend in rates will be lower and I think that the trend in inflation is going to be lower”
90d -2.8% · 180d -7.8% · 1y -2.3%
Rosenberg Research President David Rosenberg Talks Fed, Second Trump Term | Bloomberg Talks
2024-11-15 USTS bullish Wealthion · video
Trump ran vocally on a disinflation platform, post-election bond yields have already overshot, and when the equity bubble bursts Treasuries will serve as portfolio ballast for investors currently holding only 9% in bonds
“I'm bullish on bonds people think I'm crazy but look the reality is”
90d +0.5% · 180d +1.9% · 1y +7.5%
David Rosenberg: Trump Is Walking Into A HUGE Market Bubble Landmine
2024-11-15 SPX bearish Wealthion · video
Forward P/E at 22x with equity risk premium collapsed to ~10-30bps is 'stupid expensive' — valuations are at a two-standard-deviation event and the bubble will burst with certainty
“this Equity bubble is going to burst I will say 100% certainty”
90d -4.4% · 180d -1.0% · 1y -15.0%
David Rosenberg: Trump Is Walking Into A HUGE Market Bubble Landmine
2024-10-05 GOLD bullish Wealthion · video
Gold is transitioning from a commodity to a currency-like asset with no government liability, with lower rates and a weaker dollar as near-term tailwinds and structural central bank diversification as a durable bid
“trading as a currency that is no government's liability”
90d -0.3% · 180d +17.3% · 1y +49.2%
Weekly Recap: Recession? • Solvency Crisis • China Stimulus • Bull Market
2024-10-04 GOLD bullish Wealthion · video
Lower US rates and a weaker dollar are simultaneous tailwinds, while global central banks—including developed-market CBs—are diversifying back into gold reserves, reinforcing fund flows regardless of the rate cycle
“stick with the program until these tailwinds become headwinds”
90d +0.2% · 180d +17.6% · 1y +48.7%
David Rosenberg Warns: Recession Ahead—Complacent Markets Are at Risk
2024-10-04 USD bearish Wealthion · video
The Fed is catching down to the rest of the world on rates, eroding the dollar's yield advantage and driving a bear market or at minimum a correction phase in the currency
“we're in a bare market on the dollar certainly if not a bare market a correction phase”
90d -8.1% · 180d -3.7% · 1y -0.7%
David Rosenberg Warns: Recession Ahead—Complacent Markets Are at Risk

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