Sunday, September 27, 2009

David Rosenberg--"I was bullish!"


His latest screed now says he told clients to get long bonds and commodities at the low, and that he turned neutral at the market bottom!

Even though the market was going to retest the lows when the S&P hit 946 in early July.

Even though he said the market would retest it's lows in early June.

Even though in early May he said that this short covering rally was finished!

Even though on April 1, he made a joke about "being bullish" and then he said this:

We remain of the view that the risk of earnings disappointments will take the S&P 500 to new lows before the bear market runs its course. Based on the outlook for corporate profits and the typical trough P/E multiple that characterized recession bear markets, it would not surprise us to see the S&P 500 gravitate in a 475-650 range for an extended period of time.

He now calls his April Fool's joke just playing the Devil's Advocate, and that "nuance" was the being bullish tip!

David now admits the "green shoots" weren't brown as he advertised!

And that is Wall Street advertising!

Missing the whole move, but then saying you had a nuance of self doubt that meant you were bullish, while publishing 25 page commentaries that were bearish!

Here is Rosenberg's latest:
Special Report TripleC 092509


Anonymous said...

Ahhhh. Mr Rosenberg have you shame?

Anonymous said...

Shameless punk. He was talking about 1m jobless claims at some point in time