Bear Market All Star Nouriel Roubini

Great video from CNBC's Fast Money today. It starts by praising one of THE bear market all stars, Nouriel Roubini, aka Dr. Doom, as the economic prophet. It then goes into a monster tirade by Jeff Macke (starts at 1:30) that says everything you need to know about Roubini.

Great economic call, but Roubini is not a trader nor an investor. That is why he is a professor, probably a damn good professor. And everyone seems pretty unanimous on the fact that the dude can straight up party like it is 1929.

Roubini's biggest mistake was using his status as an economic apocalypse guru to then try to make market calls. If he had just stuck with the economy, which is clearly his strength, he would have been far better off. Was it just ego or what? Why was a market call needed, he was dead on the economy, he didn't need to go and make market calls. For the record, Roubini was one of the first to write off the current rally (+39.5% from the March lows) as another sucker's rally. Hopefully you did not sell or even worse, go short, because that was about three weeks ago. Time will tell, but the longer it goes the quicker it can take away Roubini's credibility.