Roubini to Cramer: ‘Just shut up’
This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.
People might pay good money to see these two go at it: The newest battle of the market pundits pits Dr. Doom, economist Nouriel Roubini, against CNBC’s Jim Cramer.
On Tuesday, Roubini called Cramer a ‘buffoon’ for his market-related antics, and advised him to ‘just shut up.’
From the Associated Press:
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 actually started this fight, the AP noted: The former hedge fund manager ‘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.’
Roubini has become world famous for predicting the financial system meltdown. And he remains bearish. Speaking in Toronto on Tuesday, Roubini said he expected the stock market to head back toward the 12-year lows reached in early March because economic news, earnings and financial shocks ‘are going to be worse than expected’ in the near term.
Cramer, not surprisingly, is taking a sunnier view. ‘I think we are not going to see that level again,’ he said of the March low.
As for Roubini’s retort, Cramer said on CNBC today that he regarded the attack as ‘a great badge of honor. As all my attackers, I always welcome you on ‘Mad Money.’ ‘
-- Tom Petruno
Top photo: Nouriel Roubini. Credit: Scott Eells / Bloomberg News
Bottom photo: Jim Cramer. Credit: Al Seib / Los Angeles Times