“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.”
–Nouriel Roubini on CNBC’s James Cramer
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Them’s fightin’ words:
“CNBC’s Jim Cramer has another feud on his hands.
Just weeks after “The Daily Show” host Jon Stewart took Cramer to task for trying to turn finance reporting into a “game,” famous bear economist Nouriel Roubini criticized Cramer on Tuesday for predicting bull markets.
“Cramer is a buffoon,” said Roubini, a New York University economics professor often called Dr. Doom. “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. And after all this mess and Jon Stewart he should just shut up because he has no shame . . .”
Cramer recently wrote in a blog that Roubini is “intoxicated” with his own “prescience and vision” and said Roubini should realize that things are better since the stock market’s recent bottom in early March.”
Ouch.
In a battle between two pundits, you gotta go with the guy that has been dead right for 2 years. And the guy who has been dead wrong does not get the benefit of the doubt . . .
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Sources:
Economist Nouriel Roubini lashes out at CNBC host
ROB GILLIES
APNEWS, Apr 8, 6:59 AM (ET)
http://apnews.myway.com/article/20090408/D97E86U80.html
Banks Finally Get a Little Breathing Room
James Cramer
TheStreet.com, 03/26/09 – 06:47 AM EDT
http://www.thestreet.com/story/10477761/1/banks-finally-get-a-little-breathing-room.html
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