David Rosenberg says his shift to perma-bull status may come as soon as November if broader despair continues and a few outstanding messes get cleaned up:
For the record, I do see a light at the end of the dark tunnel. Don’t be surprised if I end up turning bullish ahead of the pack — though it may not be until the like of my good friend, Jim Paulsen, is hiding under his desk screaming “uncle”! But the Rosenberg shift to perma-bull status — I was there in the 80s and 90s, but obscurity got in the way — could come as early as Thanksgiving, and the only ones who will know for sure, at least initially, will be our clients, and our portfolio managers.
When perma-bear Robert Prechter turned bullish in February 2009, the markets began an epic rally a few weeks after. His calls on the next downturn have not been as successful. If perma-bear David Rosenberg also turns bullish, will we see the same result? Or will the bottom fall out now that the last bear has left the building?
Rosenberg’s full take at Pragmatic Capitalism: David Rosenberg (Almost) Turns Bullish on Stocks