Thoughtful Money with Adam Taggart · Sunday, September 6, 2026
David Rosenberg drew parallels between the current market conditions and the dot-com bubble of the late 1990s, referring to the situation as a "tech and telecom bubble." He noted that while the technology itself was a game-changer, the market valuation and investor behavior created a bubble. Rosenberg believes the "bubble is not really in the technology" but in the "behavior" and "extreme emotions" of investors.
“Uh, but my, my, look, the reality is that, just as we said, you know, with the internet, and, uh, you know, it was called it a, uh, a.com bubble, um, in the late 1990s, but it was really a broad, uh, technology, uh, and telecom bubble.”
“But, you know, um, the bubble is not really in the technology. The bubble is in, um, our behavior. And the extreme emotions, uh, the fear and greed.”
“The bubble is in, um, how we are, you know, valuing, uh, this new technology and the future, like, if you want to backdate, uh, revenues are going to have to balloon, uh, 50% a year for the next half decade.”