BrunoT

Roubini the Revisionist

Ah, everyone wants to be a celebrity economic whiz kid forecaster hawking their own little get rich quick schemes. And when nobody listens, what do they do? They decide putting the name of someone who DID get attention in a column so as to draw readers to their otherwise pretty lonely world. But hey, based on the comments, I see your tactic of knocking others is already a huge success! hahahaaha.

"One of my passions in life is calling people out. Call it aggressive, or call it plain dumb – I am a hockey player by training don’t forget, and that’s just what I do."

If that's your passion, is being a douche just part of your job?

Mid-Year Report: Is a Summer Turn-around Still Possible?

It's Admiral Yamamoto, not Yakamoto. And the story of him saying that is apochryphal.

www.japan-101.com/hist...

Mid-Year Report: Is a Summer Turn-around Still Possible?

More "predictions" pulled out that are either right or wrong, yet these guys never stop trying to make short term predictions. I note how they never crow about being wrong. It's a sad profession, relying on claims of being great prognosticators to get people to use your services.

Anyway, I can tell he doesn't compltely understand gold and oil. He says gold has fallen 50% vs oil. Maybe true. But doesn't he understand that the world runs on oil, not gold, and that that fact means that while investors may want gold, the vast majority of the earth with nothing to invest wants oil NOW, and given a choice of buying gold or oil, has to buy oil now, so it will rise faster, and gold will only catch up later.

And all asset classes can be seen in short term snapshots and given a distorted meaning. Last summer he could have been crowing about US stocks with the Dow being over 14,000. That doesn't mean they'll stay there. Just as it doesn't mean the ratio of oil-gold will remain the same. Which one today has more upside potential? The one that ran up dramatically or the one that stubbornly rose much slower?