Brendan Livingstone moving to David Rosenberg’s new economic research firm as senior market strategist
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Jul 24, 2020 • • 2 minute read
A familiar face will be joining economist David Rosenberg as he continues to grow Rosenberg Research & Associates Inc., the new economic research and strategy venture he launched after leaving Gluskin Sheff late last year.
Brendan Livingstone, a former Gluskin Sheff senior economist, will join the new firm as senior market strategist, Rosenberg told the Financial Post in an interview announcing the move.
Livingstone will produce “actionable” investment advice covering various global asset classes, sectors and currencies, and contribute to Rosenberg’s morning note, Breakfast with Dave. Livingstone will also be responsible for spearheading a new publication, Strategizer, a monthly guidebook for active investors that will be available to the firm’s premium subscribers.
At Gluskin Sheff, Livingstone most recently provided market analysis and insights to teams running investment and client wealth management. Prior to joining Gluskin, he worked at Macquarie Securities as part of the economics and strategy team, and at Canadian Imperial Bank of Commerce, where he helped build economic and financial forecasting models.
The move marks a reunion for the pair: Rosenberg had originally hired Livingstone in 2017 when he was still at Gluskin.
“I am very excited to be reuniting with Brendan,” Rosenberg said of his two-time hire, adding that Livingstone’s quantitative and model-driven skills will bring a “higher level” of market analysis and forecasting to the firm.
Rosenberg says business has been better than expected since launching the venture.
“When I left my old shop, I had roughly 1,900 subscribers. Right now that number is bordering on 3,500 (including one-month trials) and the traffic on the website is absolutely incredible,” Rosenberg said.
“I don’t want to get too specific as to the Rosenberg Research financials, but we are well ahead of plan. If we weren’t, I wouldn’t be entertaining the notion of expanding,” he said.
Gluskin was purchased by Onex Corp. last year. Rosenberg told the Post in November that launching his own shop had nothing to do with the sale of Gluskin to the private equity firm and was the fulfilment of a “lifelong dream.”
At the time, he said he wasn’t wary about launching while forecasting a recession because, if the downturn came, people would be looking for financial advice to navigate through it.
“It was probably the best forecast I ever made,” Rosenberg told the Post this week. “All this market and economic confusion has indeed caused there to be tremendous interest in the new firm.”