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David Rosenberg, founder of Toronto-based Rosenberg Research & Associates, contends that the US stock market is exhibiting hallmarks of a bubble. He notes that valuations, leverage, and investor positioning have reached extreme levels, surpassing anything he has witnessed in his four decades in the industry. Rosenberg highlights that the current bull market's dependence on advancements in artificial intelligence even eclipses the pre-dot-com bubble's reliance on the tech sector. He disclosed that he has boosted his portfolio's allocation to US Treasuries and international stocks, cautioning that the US has transformed into a 'tech boom epicenter' where investors are paying a premium. Additionally, he specifically pointed out that consumers are increasingly depending on stock market gains to maintain their lifestyles.
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