Masters in Business: David Rosenberg

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
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David Rosenberg's first day of work in the private sector was Oct. 19, 1987, better known as Black Monday, the day U.S. markets plunged almost 23 percent. Rosenberg learned the importance of not giving in to emotions and thinking long term as he watched the more senior strategists around him keep their heads during a day of intense panic.

Rosenberg worked at Merrill Lynch as their Canadian economist. He was eventually promoted to become the bank's chief North American economist, working out of Merrill Lynch's New York headquarters near the World Trade Center.

In our interview, he recalled how tough it was to be a bear when his business card had a bull on it. During the run-up to the most recent financial crisis, he was decidedly out of step with his office's underwriting of subprime mortgage-backed securities. But Rosie, as he was known to the thundering herd, stuck to his guns, and was proven correct.

Today, he is the chief economist at Gluskin Sheff and Associates in Toronto.

You can stream the interview at Soundcloud or download the podcast here.

Next week, we speak with market analyst and historian Laszlo Birinyi of Birinyi Associates.

This column does not necessarily reflect the opinion of Bloomberg View's editorial board or Bloomberg LP, its owners and investors.

To contact the author on this story:
Barry L Ritholtz at britholtz3@bloomberg.net