Financial Post: Investors And Economists Are Playing With Fire

Article by David Rosenberg (Economist) in Financial Post

No matter how you slice and dice it, one thing is clear: the reflexive stock market rally that began last October (and ended this past August) never had much in the way of fundamental underpinnings. Momentum, yes. Technical picture, yes. Sentiment and emotion, yes. Fundamentals and valuations, sorry, no.

And this is why we never bit, despite all the external pressure to do so. Everyone loves a bullish narrative.

Meanwhile, the leading economic index has fallen for 17 consecutive months as economic uncertainty continues to grow, and the ........

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