The Opposing Views of David Rosenberg, Lazlo Birinyi, Bill Gross and Byron Wien

By on May 17, 2009

A recent article in the New York Times provides the current feelings of several well-known and widely followed money managers and market commentators:

David Rosenberg, who recently stepped down as chief North American economist at Merrill Lynch, said he wouldn’t jump on the bandwagon and considers the market recover since early March a bear market rally. Regarding the economy Rosenberg quips, “It’s being held together by tape and glue.”

Lazlo Birinyi, of Birinyi Associates, who was frequently a commentator on the late Louis Rukeyser’s Wall Street Week, believes a new bull market has begun and the S&P 500 will reach 1,600 in the next two to five years.

PIMCO’s Bill Gross also believes a new bull market has begun, but gains will be subdued.

Byron Wien, chief investment strategist of Pequot Capital Management, thinks the current rally will take the S&P 500 above 1,000. Beyond that he gives no guidance.


The New York Times

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