Dr. Doom Foresees Much More Pain: So Why Is Roubini’s 401(k) All in Stocks?
Nouriel Roubini, economics professor at NYU Stern School and chairman of RGE Monitor, has earned the nickname “Dr. Doom” for his dire predictions about the economy over the last couple of years (most of which have come true).
So it was a shocker when word got out on Wall Street that Roubini was the most bullish guy in the room at a recent dinner he hosted in NYC. There were even rumors Roubini’s retirement account was 100% in stocks (since confirmed).
Has Dr. Doom become a raging bull?
Not quite. But with the financial meltdown in full, protracted swing, it seems as if the rest of the world has caught up with him.
“The mainstream is getting closer to my views about a very severe U.S. and global recession,” he says. “On the other side, I’m not in the Armageddon camp,” forecasting a severe recession through 2009, but not a repeat of the Great Depression.
So why is Roubini’s 401(k) 100% in equities? He’s not an active investor, and “over 10 to 20 years equities outperform any other asset class,” he says in the accompanying video.
Unlike so many others, Roubini’s not calling a bottom, for sure: He sees another 20%-30% downside risk for stocks, and advises that investors avoid all “risky assets,” including commodities for the foreseeable future. Instead, he recommends Treasuries and, over the medium term, corporate debt.
In case you need further proof that Dr. Doom hasn’t lost his edge, Roubini predicts that macroeconomic news and earnings will be much worse than expected in the coming months, as the dollar weakens even further. “The surprise is how bad the the economy [will get].”
At least there’s some things you can still count on in an uncertain world.
If you could read my mind love What a tale my thoughts could tell Just like an old time movie bout a ghost from a wishin well In a castle dark or a fortress strong With chains upon my feet You know that ghost is me And I will never be set free As long as I'm a ghost that you can't see
If I could read your mind love What a tale your thoughts could tell Just like a paperback novel The kind that drugstores sell When you reach the part where the heartaches come The hero would be me But heroes often fail And you won't read that book again Because the endings just too hard to take
I'd walk away like a movie star Who gets burned in a three way script Enter number two A movie queen to play the scene Of bringing all the good things out in me But for now love, let's be real * I never thought I could act this way * And I've got to say that I just don't get it I don't know where we went wrong But the feelins gone And I just can't get it back
If you could read my mind love What a tale my thoughts could tell Just like an old time movie bout a ghost from a wishin well In a castle dark or a fortress strong With chains upon my feet But stories always end And if you read between the lines You'll know that I'm just tryin to understand The feelins that you lack I never thought I could feel this way And I've got to say that I just to get it I don't know where we went wrong But the feelins gone And I just can't get it back
Dr. Doom Foresees Much More Pain: So Why Is Roubini’s 401(k) All in Stocks?
ReplyDeleteNouriel Roubini, economics professor at NYU Stern School and chairman of RGE Monitor, has earned the nickname “Dr. Doom” for his dire predictions about the economy over the last couple of years (most of which have come true).
So it was a shocker when word got out on Wall Street that Roubini was the most bullish guy in the room at a recent dinner he hosted in NYC. There were even rumors Roubini’s retirement account was 100% in stocks (since confirmed).
Has Dr. Doom become a raging bull?
Not quite. But with the financial meltdown in full, protracted swing, it seems as if the rest of the world has caught up with him.
“The mainstream is getting closer to my views about a very severe U.S. and global recession,” he says. “On the other side, I’m not in the Armageddon camp,” forecasting a severe recession through 2009, but not a repeat of the Great Depression.
So why is Roubini’s 401(k) 100% in equities? He’s not an active investor, and “over 10 to 20 years equities outperform any other asset class,” he says in the accompanying video.
Unlike so many others, Roubini’s not calling a bottom, for sure: He sees another 20%-30% downside risk for stocks, and advises that investors avoid all “risky assets,” including commodities for the foreseeable future. Instead, he recommends Treasuries and, over the medium term, corporate debt.
In case you need further proof that Dr. Doom hasn’t lost his edge, Roubini predicts that macroeconomic news and earnings will be much worse than expected in the coming months, as the dollar weakens even further. “The surprise is how bad the the economy [will get].”
At least there’s some things you can still count on in an uncertain world.
If you could read my mind - By Gordon Lightfoot
ReplyDeleteIf you could read my mind love
What a tale my thoughts could tell
Just like an old time movie
bout a ghost from a wishin well
In a castle dark or a fortress strong
With chains upon my feet
You know that ghost is me
And I will never be set free
As long as I'm a ghost that you can't see
If I could read your mind love
What a tale your thoughts could tell
Just like a paperback novel
The kind that drugstores sell
When you reach the part where the heartaches come
The hero would be me
But heroes often fail
And you won't read that book again
Because the endings just too hard to take
I'd walk away like a movie star
Who gets burned in a three way script
Enter number two
A movie queen to play the scene
Of bringing all the good things out in me
But for now love, let's be real
* I never thought I could act this way *
And I've got to say that I just don't get it
I don't know where we went wrong
But the feelins gone
And I just can't get it back
If you could read my mind love
What a tale my thoughts could tell
Just like an old time movie
bout a ghost from a wishin well
In a castle dark or a fortress strong
With chains upon my feet
But stories always end
And if you read between the lines
You'll know that I'm just tryin to understand
The feelins that you lack
I never thought I could feel this way
And I've got to say that I just to get it
I don't know where we went wrong
But the feelins gone
And I just can't get it back
难忘您的音韵
ReplyDelete问我昨天几许快乐，仍回味这一种感觉，
是您歌曲解我人生的困阻。
夜雨声中忆起往事，甜蜜地写诗多少次，
愿化海鸥轻唱明天的大志。
难忘您的音韵，多麽的吸引，
学道理怎做人，燃亮每颗心。
难忘您的指引，彼此应该多信任，
共度美景良辰，热爱这眼前人。
La…… La…… La…… La……
难忘您的指引，彼此应该多信任，
共度美景良辰，热爱这眼前人。
为您谱出一首《印象》，柔情泪今宵湿空帐，
梦似泡影一碎，徒添感伤。
浪子应该走正路，沉默是金紧守於脑，
父母恩应该报，长春不易老。
难忘您的音韵，多麽的吸引，
学道理怎做人，燃亮每颗心。
难忘您的指引，彼此应该多信任，
共度美景良辰，热爱这眼前人。
La…… La…… La…… La……
难忘您的指引，彼此应该多信任，
共度美景良辰，热爱这眼前人。
共度美景良辰，热爱这眼前人。