Rosenberg on the Current 'Secular Bear Market'

We’re halfway through a secular bear market in equities…. It means you can’t really be a buy and hold investor.

- David Rosenberg, Chief Economist, Gluskin Sheff & Associates, on CNBC’s Squawk Box, July 7

David Rosenberg, former Chief North American Economist at Merrill Lynch, was the guest host on CNBC’s Squawk Box Tuesday morning. Rosenberg is one of the best in the business and has been way out ahead of the rest of Wall Street on the current crisis. For the quote about a secular bear market, scroll forward to about 4:30 and the quote itself comes around the 5:00 min mark.

Comments

[Carl Spackler:]

I also get these guy's newsletter, and I have found their reasoning to be excellent. It is possible to be a long term bear and also be long at various times and these guys accept that reality. I will continue to be short the market on a long term basis, but at times I will also be long. As he says in this interview, the buy and hold strategy only works during a secular bull market, and we find ourselves in a secular bear market. You must now go with the prevailing winds! Those winds just changed from long to short again.

Jul 08 11:59 AM

[Carl Spackler:]

I also get these guy's newsletter, and I have found their reasoning to be excellent. It is possible to be a long term bear and also be long at various times and these guys accept that reality. I will continue to be short the market on a long term basis, but at times I will also be long at various times. As he says in this interview, the buy and hold strategy only works during a secular bull market, and we find ourselves in a secular bear market. You must now go with the prevailing winds! Those winds just changed from long to short again as the S&P has broken support at 880.

Jul 08 12:00 PM

[Larry House:]

Whether the trend is your friend or not, unless you have a wish to be poor, don't buck the trend.

Jul 08 12:22 PM