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Delta variant surge will crush reopening stocks, longtime market bear David Rosenberg suggests

https://www.cnbc.com/2021/08/01/delta-variant-surge-will-crush-reopening-stocks-david-rosenberg.html

Delta variant surge will crush reopening stocks, longtime market bear David Rosenberg suggests


Investors may want to start August by lightening up on the reopening trades.

Longtime market bear David Rosenberg warns surging Covid-19 delta variant cases paired with the culmination of fiscal stimulus will crush stocks tied to the economic recovery.




Maybe down 15 20%?
How low can you go
How many TUMS can you bellied down??

Comments

  • As the saying goes, economists have predicted five of the last three recessions:

    https://advisorperspectives.com/articles/2021/05/06/david-rosenberg-the-consensus-is-wrong-about-stocks-bonds-and-inflation
    The consensus is that U.S. equities will deliver strong performance as the economy recovers, and that higher inflation will drive rising interest rates. All of that is wrong, according to David Rosenberg.

    The Toronto-based Rosenberg started his own economic consulting firm in January 2020, Rosenberg Research & Associates, after working a decade as chief economist and strategist at Gluskin Sheff & Associates. He was the opening speaker at this year’s Strategic Investment Conference, hosted by John Mauldin.

    Before you place too much weight on Rosenberg’s analysis, recall that he delivered the opening keynote at this conference last year, when he proclaimed that U.S. equity market bulls were in “fantasyland.” He was wrong. The return for the S&P 500 for the last year was 56.25%.

    The “fiscal juice” from stimulus checks and the re-opening of the economy are outstripping supply, creating temporary inflation. Supply will catch up when demand subsides as the effect from the stimulus wanes, according to Rosenberg. That will happen before the end of the year.

    When the effect of stimulus checks expired last year, GDP declined by 2.5%. We will see a repeat of that this year, according to Rosenberg.
  • edited August 2
    Are CNBC articles worthwhile to read or just for entertainment ? In last WealthTrack interview, David Rosenberg said to buy long term treasury. Glad his is not my advisor.
  • As a Canadian citizen(I presume), Rosenberg should just retire , savor the summer in Toronto and be glad he doesn't have to worry about the solvency of Medicare Canada or the Canada Pension Plan !
  • Maybe click bait

    Don't think dji >10% down/haircut

    May sideways for short term, hard to day
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