We were caught up by surprise when we read a headline that said “Dr. Doom thinks rally has legs…”. So, considering his awful stock market timing (he told everyone to stay “short” in 2009 and 2010, two of the largest rallies in history!), we thought perhaps it is time to consider our “Inverse-Roubini ETF” strategy.
Anyway, here is what we read on CNBC:
The perennially negative Nouriel Roubini – nicknamed Dr Doom for his usually critical views – is turning bullish. You read that right, Roubini is betting on additional stock market gains.
“We’re a believer; we’re celebrating. We think the rally has legs,” explains Gina Sanchez, Roubini’s director of equity and allocation strategy.
She tells us that Roubini’s firm currently recommends being overweight equities. “Generally we’d take advantage of the risk rally. Celebrate now.”
Let’s see if they get it right this time.