David Rosenberg's Shift in Market Outlook

David Rosenberg shares his evolving perspective on the stock market in light of recent trends, particularly regarding artificial intelligence (AI). Acknowledging that his previous skepticism about the stock market rally was misplaced, he argues that AI could represent a significant inflection point comparable to the internet boom of the 1990s. He emphasizes the market's longer-term investment horizon, suggesting that investors are increasingly factoring in the transformative potential of AI in productivity and profitability, thus challenging traditional valuation metrics. Yet, he maintains a cautious stance, recognizing the risks of overvaluation and potential market bubbles.