RE: Meet Professor Roubini aka Dr. Doom
I wonder if you haven't missed some nuance as to his investment strategy. He stated he used to keep ~75% of his assets in equities, but in the last three years has withdrawn almost all of it to cash. Given his deep and extensive knowledge of the liquidity pump that has inflated the current asset bubble, I suspect he knows it has to dry up sooner or later - but not when. When crashes come, it's too late to pull out, as many learn to their chagrin.
He's staying out of the current equities market, but isn't averse to equities.
I observe that the lack of faith he shows in the banking/Wall St. system is mirrored by his lack of faith in crypto, and perhaps for the same reasons. While crypto theoretically can be trustless, BTC shows that weasels can get into position to preclude that entirely. The lightning network obviates entirely the trustless nature of BTC, and the entire block size debate and xfer fee situation has been engineered to create privileged providers that require trust in them in order to trust the blockchain.
I completely agree with his assessments of those issues (if that's actually what is behind his doomsaying).
Fortunately, I pay zero attention to Twatter, Fakebook, or any other such centralized platform, so am absolutely ignorant of the controversies of which you treat here. I appear to be the proverbial underrock dweller in that regard =p.
Simon Black, of Sovereign Man blog, similarly discusses the puffery and fragility of the current equities market, and you might profit philosophically from having a look at his posts, as they do seem to dovetail quite cleanly with Dr. Doom's views, yet are all about investing, not at all avoiding it. I reckon both are averse to unreasonable and avoidable risks, which are practically unavoidable in the current equities markets, as well as in cryptos.
Thanks!
You are right, he does seem to be consistent there... I guess i was more taking it like he's become a straight out none believer, but that could be me projecting.
that being said, check this out... I think you will appreciate it.
https://medium.com/@omid.malekan/nouriel-roubinis-1991-testimony-to-congress-about-the-mobile-phone-bubble-e8a3c72032c3
It's a hearing where he talked about Cell Phone tech and how it sucks...
here is the fun parts.
LOL Precious!
Reminds me of a skit on Saturday Night Live back in the day - 'Get to Know Me!' With the guy that did the 'Morgan Fairchilc - whom I've seen naked!', and 'Liar' skits.
However, despite his obvious conceit, his predictions seem to have merit. His current investment strategy (95% cash) is therefore instructive - unlike his assessments of new technologies like Cell Phones and Blockchain.