Meredith Whitney, Nouriel Roubini, Ian Gordon and Eric Sprott put on quite a show this evening in Toronto. All four predicted the current crisis and spent tonight entertaining guests at a speaking event called “A night with the the bears”. Roubini said Jim Cramer is a “buffoon” and called him out for calling the bottom of the bear market at each intermediate low (which is true). Whitney predicted that many of the banks will not survive the stress tests and will likely face some sort of nationalization though she said so in different terms. Gordon predicted Dow 1,000 (wow). And Sprott said the market is far too optimistic and that gold is the only safe asset.
Thanks to reader “Invid” for a link to the video:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.