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Here's where investors worried about a stock market bubble should put their money, according to a top economist

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David Rosenberg says stocks are in a bubble and at risk of a major decline.

He says investors should pay attention to key sectors and add "insurance" to their portfolios.

Rosenberg has warned of a 39% correction to stocks in the past.

Investors should look to put a "dose of insurance" in their portfolios, he says.