Rosenberg – “Market has overshot the fundamentals”

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David Rosenberg, chief economist and strategist of Gluskin Sheff & Associates, discusses the outlook for the stock market in the video below.

“My view is that we are still in a secular bear market … My big concern is that the market has gotten ahead of the economy. The S&P is pricing in $85 dollars of operating earnings which would be a doubling from where we are right now, and it usually takes four to five years to double earnings off a recession low … The market has clearly overshot the fundamentals,” said Rosenberg.

Source: CNBC, October 19, 2009.

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