BUSINESS

Stocks And Bitcoin Are Massive Bubbles, Long-time Bear David Rosenberg Warns

Long-time market bear David Rosenberg is warning investors the stock market and bitcoin are massive bubbles.

The economist and strategist cites crowded trades amid a struggling economic backdrop for his concerns.

“Based on our [stock market] valuation work, we are anywhere from 20% to 30% overvalued based on a whole bunch of different metrics,” the Rosenberg Research president told CNBC’s “Trading Nation” last week.

Rosenberg, who served as Merrill Lynch’s top North American economist from 2002 to 2009, is known for his pessimism over the past several years. In 2019, he told investors a recession was virtually unavoidable.

Read more at cnbc.com

Readers Bureau, Contributor    

Edited by Jesus Chan

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