Friday, April 10, 2009

Nouriel Roubini Calls Jim Cramer "A Buffoon"

Allright, I admit there is absolutely no value to this post outside of entertainment but for some breakfast fun- when 2 of our favorite talking heads are at war, it's fun to watch.

Doctor Doom calls Jim Cramer a Buffoon according to this story from UK Guardian. Maybe this was his way of saying Happy 1000th show? Tsk tsk...boys

As an aside I am going to be so sick of hearing the term "green shoots" in about 3 months... make it 3 hours. Thanks Uncle Ben for terming a new catch phrase that is sweeping the nation.
  • Wall Street's favourite jester has fallen foul of the prophet of doom. A tense feud has broken out between the outspoken tele­vision stockpicker Jim Cramer and the notoriously gloomy economist Nouriel Roubini.
  • Roubini, a New York University professor who famously forecast a dire world recession as far back as 2006, has taken exception to remarks on a blog by Cramer that he is "intoxicated" with his own "prescience and vision" and is refusing to see green shoots of recovery in the financial markets.
  • "Cramer is a buffoon," said Roubini. "He was one of those who called six times in a row for this bear market rally to be a bull market rally and he got it wrong." (can't argue that one, other than the fact he was one of a million to do the same "bottom calling" incessently - just keep repeating it and eventually one will be correct)
  • The confrontation pits two of the financial world's biggest egos against each other. While Roubini has won plaudits for correctly predicting that the credit crunch would cause a domino effect around the world, Cramer has long been a cheerleader for mass participation in the stockmarket.
  • Roubini, who believes the situation is so gloomy that leading US banks may need to be nationalised, was dismissive of Cramer: "After all this mess and Jon Stewart, he should just shut up because he has no shame."
  • ... the economist continued: "He's not a credible analyst. Every time it was a bear market rally he said it was the beginning of a bull, and he got it wrong."
  • But Cramer has continued to attack doom-mongers, recently referring to Roubini and the Nobel prize-winning economist Paul Krugman as part of a "nationalisation jihad" for their advocacy of public intervention in the financial sector.
Most likely their respective agents told them to cause a feud so they can get higher ratings.

Wait... I'm mixing them up with how Hollywood works.

Carry on.

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012