Saturday, October 3, 2009

Is Roubini not a Doctor Doom anymore ?

Roubini View of Economy Softening Slightly

Nouriel Roubini has seen his star rise faster than almost anyone after predicting a deep recession during what was hailed by some as the “goldilocks” economy of 2006-2007. The so-called “Dr. Doom” is now a legitimate superstar and his words carry a lot of weight. We noted back in July (A Week of Superstar Bears Moving the Market) that Roubini’s remarks were regarded as a change in direction and the stock market rode a wave of positive sentiment much higher. It was surprising to us that such a event that has absolutely nothing to do with market fundamentals would be met with such ebullience from the market. Well, according to on Friday, Roubini has started to come around to the idea of recovery.

New York University Professor Nouriel Roubini said that action by governments and central banks has led to a “bottoming out” of the global recession and that there is “light at the end of the tunnel.”

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