Rosenberg

The Running Of The Japan Bears

Renowned investor and manager of the Yale endowment, David Swensen, recently highlighted his newfound enthusiasm for Japanese markets: “There are some very interesting things going in Japan, one of the places I’m most optimistic about. It seems like capitalism might actually be taking root, making progress there.”

Oh Canada - Reflections On An Economic Experiment

"...the real problem is with the Fed’s unwillingness to surprise markets. They are convinced that moves should be telegraphed well in advance.. the Fed is a slave to market expectations...Well, Bank of Canada Governor Poloz is willing to take the other side of this view. Arguing that in normal times, there is no need for such guidance..."

Breaking Down The Bull Market Thesis

"Considering that forward estimates are generally overstated by 33% on average, the risk is high of disappointment... The risk for investors is “willful blindness” that builds when complacency reaches extremes. It is worth remembering that the bullish mantra we hear today is much the same as it was in both 1999 and 2007."