NEW YORK: The US stock market has entered into a corrective phase, but the underlying bull market remains in place, David Rosenberg, chief economist and strategist of Canadian asset manager Gluskin Sheff, said on Thursday.
Rosenberg, whose Toronto-based firm had US$7.5bil in assets under management at the end of the second quarter, had changed his bearish outlook shortly after writing in mid-2012: "I do see a light at the end of the dark tunnel. Don't be surprised if I end up turning bullish ahead of the pack."
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