David Rosenberg, a top economist known for predicting the 2008 market crash, is warning of a potential stock market collapse, calling the current market a “mega-bubble.” He advises against chasing momentum, citing high valuations, bullish investor sentiment, and the S&P 500 being over 25% higher than its fundamentals suggest.
Rosenberg is bearish on both the economy and markets, pointing to rising unemployment and decreased job openings as signs of economic weakness. He urges investors to preserve capital, cautioning that the market has surpassed the safe middle zone of a bull market.
Market ‘Mega-Bubble’ Set To Pop, Says Top Economist Who Called 2008 Crash
Oct 20, 2024
Article from Benzinga by Erica Kollmann
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