Rosenberg: Stocks “overvalued by at least 20%”
Source: http://www.investmentpostcards.com/2009/10/28/rosenberg-stocks-overvalued-by-at-least-20/Posted on Wednesday, October 28th, 2009 | In Investing Lessons, Market Commentary
Contributed by: Prieur du Plessis (http://www.investmentpostcards.com) -
The stock market has become overheated since exploding off its March lows and could be in for a strong correction, economist David Rosenberg told CNBC.
“It is overvalued by at least 20%,” Rosenberg, formerly chief economist at Merrill Lynch and now with Gluskin Sheff & Associates, said in an interview. “But it comes down to what your view in corporate earnings (is) going to be. By the time you’re up 60% from any egregiously oversold low, you’ve already got the earnings recovery.”
Source: CNBC, October 27, 2009.
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chief economist, David Rosenberg, Economist, Gluskin Sheff & Associates;, Investing Lessons, investment postcards, Market Commentary, Merrill Lynch
chief economist, David Rosenberg, Economist, Gluskin Sheff & Associates;, Investing Lessons, investment postcards, Market Commentary, Merrill Lynch
 About Prieur du Plessis (http://www.investmentpostcards.com)
Prieur du Plessis has 25 years’ experience in professional investment research and portfolio management. More than 1,000 of his articles on investment-related topics have been published in various regular newspaper, journal and Internet columns. He has also published a book, Financial Basics: Investment. Prieur is chief executive and principal shareholder of South African-based Plexus Asset Management, which he founded in 1995. The group conducts investment management, investment consulting, private equity and real estate activities in South Africa and other African countries. Plexus is the South African partner of John Mauldin, author of the Thoughts from the Frontline e-letter, and also has an exclusive licensing agreement with California-based Research Affiliates for managing and distributing its enhanced Fundamental IndexTM methodology in the Pan-African area. Prieur is 52 years old and lives with his wife, television producer and presenter Isabel Verwey, and two children in Cape Town, South Africa. His recreational activities include long-distance running, motor cycling, traveling and reading. |
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