Rosenberg Takes Other Side of Abby Joseph Cohen's Call (Bear Market Rally)

David Rosenberg (former Merrill economist, now at Gluskin Sheff) was featured on Fast Money taking the other side of Abby Joseph Cohen's bullish call. He believes "we may be in the midst of the mother of all bear market rallies" (quoted by Melissa Lee). Like Denninger he mentioned the 2002 inventory build.

"If I remember correctly in the opening months of 2002, under similar, not the same but similar circumstances, which was an inventory build that we know in 2002 was never backed up by an improvement in consumer demand which was why GDP growth by the end of 2002 was 0, and the stock market surprisingly hit its lows....."

Related:
David Rosenberg Sees 2002 Redux, Not Fazed By SPY Breakout (7/23)