David Rosenberg: Bubbles, Bonds, and Boomers

Is the market standing on the edge of the most consequential bubble of our lifetimes — and is no one paying attention? In this episode of Insight Is Capital, host Pierre Daillie sits down with David Rosenberg, Founder and President of Rosenberg Research, for a searching and at times unsettling tour through the fault lines beneath today's record-high markets. With forty years in the business and a model portfolio that has delivered nearly 60% returns since 2023 at just 0.4 beta to the S&P 500, Rosenberg challenges the consensus with evidence, not emotion — making the case that investor behavior, not AI itself, has become the bubble. From the distorting effects of the "One Big Beautiful Bill" to the overlooked vulnerability of Baby Boomers holding 55% of their wealth in equities at age 70, this conversation covers terrain most commentators avoid. The result is one of the most candid, richly argued appraisals of risk, diversification, and the bond market opportunity available today. Chapters 00:00 — Introduction and welcome 01:00 — The ROSY ETF: putting money where the model is 03:15 — Bear in the Bull Ring: Rosenberg's new book 04:30 — Calling a bubble when no one wants to hear it 06:30 — Historical parallels: tech, housing, and the Nifty 50 09:00 — Why the AI bubble has engulfed every sector 11:00 — CapEx, equity dilution, and circular financing schemes 13:30 — The revenue math behind AI: 50% CAGR or bust 15:30 — Earnings distortions and the "One Big Beautiful Bill" 20:00 — Tariffs, inflation, and the deflationary thesis 22:00 — Wages, labor costs, and what really drives consumer prices 27:00 — Fed policy under Warsh: hiking into a supply shock 36:00 — Why bonds are the most overlooked opportunity right now 39:00 — Household balance sheets: 73% equities, 7% bonds 44:00 — Consumer spending running on fumes and equity wealth 52:30 — What genuine diversification looks like in 2026 56:00 — Gold, hard assets, and the ROSY model portfolio 58:30 — The Boomer risk: 70 years old, 55% in equities 01:07:30 — Canadian equities: relative value in the land of the blind Find David Rosenberg Website: www.rosenbergresearch.com LinkedIn: linkedin.com/in/david-rosenberg-40800219b #DavidRosenberg #RosenbergResearch #MarketBubble #AIBubble #StockMarket #BondMarket #Investing #MacroEconomics #PortfolioDiversification #CanadianEquities #FederalReserve #Inflation #GoldInvesting #InsightIsCapital #WealthManagement #FinancialAdvisors #MarketOutlook #BearMarket #EquityRiskPremium #RetirementRisk