Roubini: "Cramer is a buffoon; should shut up"

[Cutten]

Regardless of your views on Cramer, I don't see how Roubini is in any position to comment. He has after all been fully long stocks in his retirement portfolio throughout the entire bear market. The bible saying about taking the giant plank out of your own eye before criticizing someone for the same thing springs to mind.

Roubini gets paid for "consulting", corporate speech-making etc. In other words he is basically a blogger/commentator and marketer, not a trader or investor. He has never shown any ability to outperform the S&P. The very fact that he invests his own cash in an index fund shows that he himself considers his own economic advice to be totally worthless for making investment decisions.

Why would anyone listen to a guy who thought stocks were a great buy at S&P 1575, and has been long and wrong during the worst bear market for 80 years?

"Judge not, lest ye be judged" Mr Roubini.

 

[just21]

Source for the allegation that Roubini is long stocks?

 

[Free Thinker]

Quote from Cutten:

Regardless of your views on Cramer, I don't see how Roubini is in any position to comment. He has after all been fully long stocks in his retirement portfolio throughout the entire bear market. The bible saying about taking the giant plank out of your own eye before criticizing someone for the same thing springs to mind.

Roubini gets paid for "consulting", corporate speech-making etc. In other words he is basically a blogger/commentator and marketer, not a trader or investor. He has never shown any ability to outperform the S&P. The very fact that he invests his own cash in an index fund shows that he himself considers his own economic advice to be totally worthless for making investment decisions.

Why would anyone listen to a guy who thought stocks were a great buy at S&P 1575, and has been long and wrong during the worst bear market for 80 years?

"Judge not, lest ye be judged" Mr Roubini.

kind of like cramers sell call that he brags about. he went through the crash long in his aa portfolio.

 

[gnome]

Quote from vhehn:

kind of like cramers sell call that he brags about. he went through the crash long in his aa portfolio.

Didn't Shiff also? Correctly calling for the trouble but holding his "recession proof" portfolio.... which lost as much as anything else, on average.

Saying is one thing. Doing is another...

Since the Fall of 2007, 4 things have worked.. in other words were CORRECT, to varying degrees...

1. Short equities
2. Long Gold
3. Long Treasuries
4. Cash

Regardless of what anyone says.... wouldn't you like to know what they actually DID? Or as my Cuban friend likes to say, "Money talks, bullshit walks"..

 

[rickf]

The one big problem with Cramer, IMHO, is that he is long-only. Why he (or CNBC) don't talk about shorting stocks, or branding shorts as "evil" is only offering viewers one side of the story about how the markets trade, and how to make money in the markets. That's irresponsible, in my view.

Not that I think the show is any big shake, but the 1 or 2 episodes I saw of the CNBC options show that I Tivo'd last month at least talk about making money on the downside. First time I've seen anyone on CNBC 'embrace' let alone acknowledge, the ability to make money on the downside and not just treat it as a "bad" thing to be avoided or as some sinister evil plot.

But I guess the average investor is too stupid to know about shorting or the value of a stop loss. After all, markets should only move in one direction, right? Anything else is a "correction" to the norm, not a shift in market direction.

 

[d08]

Cramer just proves how dumb the general public is and how many misconceptions about price behavior there are, considering that he still has viewers who take him seriously. As a clown, an entertainer he is sometimes funny and often psychotic, also you can maybe get a few good fade trades but that's it. Roubini is in a completely different category, comparing the two would be an insult.

 

[patchie]

Quote from rickf:

The one big problem with Cramer, IMHO, is that he is long-only. Why he (or CNBC) don't talk about shorting stocks, or branding shorts as "evil" is only offering viewers one side of the story about how the markets trade, and how to make money in the markets. That's irresponsible, in my view.

And there you have it, exactly why Cramer is a hypocrite and a fool. His actions have nothing to do with informing the masses, it is all about him.


Cramer has a contract with CNBC that restricts him from shorting stocks. This clause has hindered his abilities to make money like some of his predatory associates and it pisses him off. In a market like this Cramer is finding out that it is difficult to be a long investor and survive. That is why he is outing the tricks-of-the-trade. If Cramer was able to short you would not be hearing from him on this subject at all.

 

[QQQBALL]

Quote from Pinozi:

Im hoping my sarcasm radar is broken and you are not serious about what you just posted

ditto

 

[Banff01]

Quote from rickf:

The one big problem with Cramer, IMHO, is that he is long-only. Why he (or CNBC) don't talk about shorting stocks, or branding shorts as "evil" is only offering viewers one side of the story about how the markets trade, and how to make money in the markets. That's irresponsible, in my view.

You can't have a show about shorting stocks. You'd have tons of law suits right there. Rememeber, when the stock price goes up the analysts were right. When the stock price goes down it was the market's fault, bad economy or manipulation. Also, advertising is the main source of income for TV stations. I am not sure that companies would advertise on a TV station that just made a shorting recommendation on their stock.

 

[QQQBALL]

Quote from gnome:

Didn't Shiff also? Correctly calling for the trouble but holding his "recession proof" portfolio.... which lost as much as anything else, on average.

Saying is one thing. Doing is another...

Since the Fall of 2007, 4 things have worked.. in other words were CORRECT, to varying degrees...

1. Short equities
2. Long Gold
3. Long Treasuries
4. Cash

Regardless of what anyone says.... wouldn't you like to know what they actually DID? Or as my Cuban friend likes to say, "Money talks, bullshit walks"..

There is the rub. You can get the macro right & totally blow it on the port side. schiff has been "right", but lost his ass. roubini's calls have been spot on, but i didnt know he was long the market, which makes no sense whatsoever. do as he says, not was he does?

I listen alot to the interviews over at www.financialsense.com, and there is at least one guy who got it right on call & on action... john rubino (i may get the spelling wrong)... its interesting to listen to the individual analyses and then they get the action wrong - like they wanted to short UST, or like schiff was anti-uSD but went long EU equities.