Rosenberg, the big bear, warned again: the current market environment is very much like the dot-com bubble

David Rosenberg, former chief analyst of Merrill Lynch North America and president of Rosenberg Research, said that the current stock market is sending the same “speculative fever” warning signals as before the crashes in 2008 and 2000. “As each day passes, it feels like a crossover between 1999 and 2007. There are huge speculative price bubbles in most risk assets, and while AI is real, so is the internet, and stocks that have skyrocketed in the Nifty Fifty era are real,” he said. The ‘Pretty 50’ refers to the 50 large-cap stocks that dominated the stock market in the '60s and '70s and have since fallen by about 60%.