Friday, January 02, 2015

Rosenberg and the "Lunatic Fringe"

by Bill McBride on 1/02/2015 06:25:00 PM

A funny quote today from Gluskin Sheff economist David Rosenberg via CNBC: Rosenberg: Perma-bears on the 'lunatic fringe'

"There are segments of the perma-bear community that literally live their lives on the lunatic fringe," Rosenberg wrote ... "This is heavier than religion, the tea party or Red Sox Nation for that matter. To these fanatics, if the market rallies, it is due to some unholy alliance somewhere, and if the market dives, it is a case of good triumphing over evil."
He mentions being attacked by the lunatic fringe. I can relate - the perma-bears thought I was one of their own until I wrote "Looking for the Sun" in early 2009 (my first slightly positive post in four years of blogging).  After that post (first of many more positive posts) I was inundated with angry emails. Oh well ...

As an aside, the market is up about 55% since Rosenberg turned more positive in June 2012.