GregT

Roubini Is Right: Recovery Will Be Slow

Let's not start worshipping at Roubini's alter. He correctly predicted the financial crisis. BUT he was dead wrong in predicted a continued decline and all sorts of doomsday scenarios. So now he has shifted his focus to predicted the type of recovery we will have rather than preaching continued doom.

In my book he got only the initial call right. It is very rare for economists or market analysts to continue to be correct in their prognostications. They tend to stay in whatever "camp" got them the fame and they miss the turn. It happens to both bulls and bears. Remember perenial bull Abby Joseph Cohen.

At this point Roubini is capitalizing on his recent fame, but his predictions at the beginning of this year completely failed to predict where we are right now and chances are that his current predictions will be wrong too.