We Asked David Rosenberg Why He Owns Almost No US Stocks — and What He Holds Instead
This episode features David Rosenberg, founder of Rosenberg Research, breaking down why today’s market may be driven more by valuation excess and investor behavior than fundamentals. He explains why the biggest risks right now are not obvious in headline data, and why the probability distribution for markets may be far more fragile than investors assume.
Rosenberg walks through his framework for thinking in probabilities, how AI-driven productivity is distorting economic signals, why the equity market is now driving the economy, and what a “silent contraction” beneath the surface could mean…
The skinny
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