David Rosenberg: Financial Thought Leader

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

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.

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

Best regards,

Consuelo

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DAVID ROSENBERG

Posted on November 11, 2011

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