"If you want to go out and be long stocks, you've done great. Go ahead and do it. Just don't come back and tell me that it had anything to do with the economic outlook," he added.
Rosenberg believes there's a disconnect between the market performance and the economy that's being exacerbated by the retail investing crowd. "The stock market has actually, frankly, become a bit of a casino in some sense," he said. "We always rely on the beloved S&P 500. But not every single index out there is following the mega caps, which by the way are now starting to roll over. TheAccording to Rosenberg, the market is operating in a universe all its own.
"The people who are on Reddit accounts and Robinhood accounts and all the speculators out there aren't buying Treasury notes," he said. "They are basically buying on speculation, and the Greater Fool Theory and all the narratives that these investors can beat the pros." To weather the risk backdrop, Rosenberg advises investors to consider adding defensive growth plays to their portfolios — particularly
Especially “Delta” (DAL)! :p
TradingNation Manufactured crisis
TradingNation
TradingNation Ya cuz he gonna sell ?
TradingNation Wishful thinking bud.
TradingNation Bear says stocks will go down. Sounds credible.
TradingNation I'm surprised futures opened green
TradingNation And the GOP will blame Pres. Biden ! Yet, it’s the RED States on fire from Covid !!
TradingNation 🇧🇷🇧🇷🇧🇷
TradingNation He’s been bearish since 1940. Who cares what he thinks?
TradingNation “THIS JUST IN TO CAPTAIN OBVIOUS NEWS….”
TradingNation Well he better own a lot of Puts
TradingNation Texas leader ship signed a legislation making it illegal to require a mask, require proof of vaccination or proof they are Covid free after contracting it Texas School Districts are holding events like this one last wk right before school begins turning schools into petri dishes
TradingNation This is a new month and I am looking for a COVID correction. I don’t think it can be that deep . 10% or under because of the liquidity. We see FED Jackson Hole meeting if they will lower liquidity. I say no
TradingNation Someone has been short and losing alot of $$$ It always been a Casino, No?
TradingNation SURE JAN
TradingNation
TradingNation That's the sad thing about bears, they almost always end up hoping for some major disaster to eek out a return.
TradingNation good luck
TradingNation Wow amazing advice