Ignore Roubini: stocks will surge by 20%!

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A few months ago,  the perennial doomsayer Professor Nouriel Roubini was at it again in a newspaper headline entitled “Five steps to global catastrophe”.

As we have now become accustomed, Professor Roubini – who teaches at New York University’s Stern School of Business – tends to see the current economic and market situation through his prism of a perennially dark fog of gloom and uncertainty.

Roubini seems to be basking in the glow of being accredited by some for predicting the GFC. My view is that his predictions were actually made after the first signs of trouble with the sub-prime crisis emerged in August 2007 and problems with Bear Sterns in early 2008.

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