David Rosenberg: “We’re halfway through a secular bear market.”

We’re halfway through a secular bear market in equities…. It means you can’t really be a buy and hold investor.

 

– David Rosenberg, Chief Economist, Gluskin Sheff & Associates, on CNBC’s Squawk Box, July 7

David Rosenberg, former Chief North American Economist at Merrill Lynch, was the guest host on CNBC’s Squawk Box this morning.  Rosenberg is one of the best in the business and has been way out ahead of the rest of Wall Street on the current crisis.  For the quote about a secular bear market, scroll forward to about 4:30 and the quote itself comes around the 5:00 min mark.