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BOB DOLL: BULLISH ON STOCKS

July 20, 2012

There was a counter culture novel published in the 1960s, titled I’ve Been Down So Long It Looks Like Up To Me, a phrase later memorialized in a song written by Lee Hazelwood and picked up by the rock band The Doors that just might describe where market psychology is today. As last week’s guest, economist David Rosenberg wrote recently, the phrase “consumer confidence is an oxymoron.” As you can see from his chart consumer confidence is “mired in recession territory.” As Rosenberg points out “we are supposedly in the third year of a recovery, but confidence is below the level that would be consistent with economic contraction.” As he noted, he is “noticing a certain degree of despair these days, just as I am getting enthusiastic about the future.”
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David Rosenberg: Financial Thought Leader

July 13, 2012

This week, we are sitting down for an in-depth interview with one of the handful of prognosticators who has gotten it right going into and through the rolling global financial crisis we are experiencing to this day. He is Financial Thought Leader David Rosenberg, chief economist and strategist at Toronto-based wealth management firm Gluskin Sheff. Dave returned to his native Canada in 2009 after spending many years as Chief North American Economist at Merrill Lynch, where Institutional Investor magazine placed him on their coveted “All American All Star Team” from 2005-2008.
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David Rosenberg: Financial Thought Leader

July 13, 2012

Financial Thought Leader

This week, we are sitting down for an in-depth interview with one of the handful of prognosticators who has gotten it right going into and through the rolling global financial crisis we are experiencing to this day. He is Financial Thought Leader David Rosenberg, chief economist and strategist at Toronto-based wealth management firm Gluskin Sheff. Dave returned to his native Canada in 2009 after spending many years as Chief North American Economist at Merrill Lynch, where Institutional Investor magazine placed him on their coveted “All American All Star Team” from 2005-2008.

WEALTHTRACK Episode #0903; Originally Broadcast on July 13, 2012

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David Rosenberg

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DAVID ROSENBERG

Chief Economist and Strategist
Gluskin Sheff

Consuelo Mack This week, through minutes released from the Federal Reserve’s June policy meeting, we learned that Fed officials are growing increasingly concerned about the nation’s growth, European risks and a more pronounced slowdown in China. So are investors. As of Thursday’s close, the Dow and the S&P 500 were experiencing a six session losing streak, the longest in nearly two months. According to Bloomberg, analysts estimate profits for S&P 500 companies fell 1.8% in the second quarter, the first decline since 2009.

U.S. Treasury securities on the other hand are benefiting from a global aversion to risk. The government auctioned both 10-year notes and 30-year bonds at record low borrowing costs this week. The so-called long bond offered a yield of 2.58% at today’s sale.

These developments are just what this week’s guest has been predicting for years now. We are sitting down for an in-depth interview with one of the handful of prognosticators who has gotten it right going into and through the rolling global financial crisis we are experiencing to this day.

He is Financial Thought Leader David Rosenberg, Chief Economist and Strategist at Toronto-based, wealth management firm Gluskin Sheff. Dave returned to his native Canada in 2009 after spending many years as Chief North American Economist at Merrill Lynch, where Institutional Investor magazine placed him on their coveted “All American All Star Team” from 2005-2008.

Rosenberg took on the bullish Wall Street herd as early as 2004 when he started warning about the developing housing and credit bubble which, as he predicted throughout, would wreak havoc on the financial system and many world economies. He hit the nail on the head again last year forecasting the global economy would slow and that Treasury bond yields would fall, another homerun. In his influential and widely read daily “Breakfast with Dave” reports he ranges across the globe covering everything from Europe to the BRICs, to the U.S. presidential campaign and everything of financial import in between.

What does Dave Rosenberg see in his crystal ball now and why did he write in a recent report that “the future is brighter than you think”? I will ask him, starting with the most important patterns he sees in the economy and markets.

As always, if you can’t join us at the appointed hour on your local public television station, you can watch the show on our website as a podcast or streaming video. You can also find the One Investment picks of our guests and my Action Points there.

For those of you who would like to see our program 48 hours in advance of the broadcast, you can subscribe to our WEALTHTRACK PREMIUM subscription service on the website.

Have a great weekend and make the week ahead a profitable and a productive one!

Best regards,

Consuelo Mathews Asia

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DAVID ROSENBERG

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Amy O’Brien & Ingrid Dyott: Investing in a Socially Responsible Way

July 6, 2012

Impact investing, while not yet mainstream in this country is growing rapidly and is very much a global phenomenon. The financial times recently reported that “about 95% of the 250 largest global companies now report on their corporate responsibility activities, a jump of more than 14% from 2008. The Financial Times notes that two-thirds of those that do not report are based in the U.S. and the picture is more mixed among smaller companies. However increasing numbers of investors in the U.S. are paying attention to environmental, social and governance issues, or ESG as they are known in the trade. According to a report by the Social Investment Forum Foundation on socially responsible investing trends in the U.S.,“sustainable and socially responsible investing (SRI) in the United States has continued to grow at a faster pace than the broader universe of conventional investment assets under professional management.”
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Mary Jane McQuillen & Bill Paul

June 29, 2012

Aligning Financial Goals With Personal Values

We are kicking off a new season of WEALTHTRACK with the first of a two part series devoted to what’s being called “impact investing,” the practice of aligning financial goals with personal values. Impact investing goes beyond what used to be called socially responsible investing, which was designed to avoid certain businesses such as gambling, alcohol and tobacco. It is now pro-active as well, investing in companies that are making a positive impact in a wide range of areas including environmental, societal and governance (ESG).
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