No two people manifest the bull vs.bear debate this year more than James Cramer and Nouriel Roubini.
Admittedly, both have been flexible, Cramer having gone on national television telling investors who may need the money within five years to scram, Roubini having made public statements about being long stocks occasionally.
That said, the diehards on either side have rallied around these two, and the fact they have been locked in a bitter war-of-words feud between themselves makes it even more interesting…and ridiculous!
Cramer hit Roubini again this morning on RealMoney (TheStreet.com):
Oddly, the people who are saying it tend to be the same ones who declared the recession over in March. I always have to remind these people they have it quite wrong: the depression ended in March, where deflation seemed unstoppable. That was when Citigroup (NYSE:C) , Bank of America(NYSE:BAC) , U.S. Bancorp(NYSE:USB) and Wells Fargo(NYSE:WFC) had their obituaries written by the two most implacable forces at the time in the investing universe — Professor Roubini and Meredith Whitney. (Because I am a harsh critic of the scene, I now dub them “Professor and Maryanne,” who would turn the millionaire and his wife into paupers.)
And he threw in Meredith Whitney for good measure. This is like the Biggie/Tupac feud of the mid-90’s, only with less shell casings hitting the street. LOL.
Full Disclosure: I currently manage accounts that are long WFC.