David Rosenberg doubles down on his recession call - and reveals the wild pushback he's faced
during the Internet bubble, it takes extraordinary conviction to stick to your guns when virtually everyone says you're wrong, and dismisses your contrarian stance as stubborn foolishness.remains fully convinced
I almost got fired twice for my calls in 2007 but my Institutional Investor All-Star rankings saved my skin. One time, when I was walking around the trading floor, this guy called me over and handed me the phone and I thought it was a client but it was his wife on the line, and she said:"My husband asked me to ask you why it is you are so useless."I was called the"skunk at the picnic" and the"class clown" in 2007 Rosenberg explained in his memo why he's not caving in to peer pressure and buying into the market narrative.
There's a big gap between the Conference Board's coincident and leading indexes, which has reliably been the case prior to previous recessions.
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