Monday, June 8, 2009
Roubini Scoffs at Green Shoots, Sees Dangerous Complacency
Roubini is the worst kind of ideologue. Most ideologues will just stick to their guns even if that ideology is caving in around them. They will rationalize a million different reasons why the truth is not the truth. This makes them easy to spot...and avoid!
But guys like Roubini are more dangerous because they'll attempt to "go the other way" from time to time to make it look as if they really care about those whom they are advising. They'll say, "Things are starting to get better" or, "Now's the time to get back in the market," even though they are loathe to admit it. Any advice they give you that runs against their belief system (which, in the case of Roubini is an extreme, anti-America bias) is just plain, phony. And worst of all, they'll revert back to their bearish views in an instant, proclaiming that they never really were bullish in the first place.
This flip-flopping not only kills people who are following their advice, it also lends a false air of maturity and wisdom to their advice when in fact there is none.
Be wary of these chameleons. They can inflct lots of damage on unsuspecting investors who choose to follow their ideologies and listen to their dogma.