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Roubini and Birinyi on the Market

Posted by Larry Doyle on March 26, 2009 8:42 AM |

I always keep a close ear for the market insights of any of our Economic All-Stars. Highly proclaimed NYU professor and economist Nouriel Roubini is decidedly bearish on the state of financial companies, the economy, and the markets. Bloomberg reports, Roubini Says Stocks Will Drop as Banks Go Belly Up.

Laszlo Birinyi is more tempered in his assessment but believes the market has come too far, too fast and is subject to some pullbacks. Please remember that we saw a market bottom in the S&P 500 at the 666 level (pretty scary, eh) on Friday March 6. We have moved up 22% in a very short time frame. Birinyi further offers that this market is less geared for long term investors and more for short term traders focused on picking individual stocks.

LD

  • thinkaboutthis

    I totally agree that the stock market is going to fall big and the folks that really know it are getting as much out of it as humanly possible before the same elements cause the drop.

    I think the “ordinary people” have pretty much either moved the money or are stagnated or are waiting for one fixed number range to move the money. Therefore, this group is more or less a constant on the fluctuations, leaving the people with the real ‘skinny’ to do whatever.

  • TeakWoodKite

    I found myself in a trap of sorts this week, LD.

    On one hand the market was going up and the big green
    arrow on CNN provided a strange sense of comfort…

    at the same time a very strong sense of foreboding like
    being in the presence of the “ghost of Christmas future”

    I ask myself, self “with all this toxicity and the markets climbing, can you afford the price of hope?”

    My gut is telling the rest of me to chill out. So much trauma from the drama…next thing I know, I am scolding myself for being a pessimist, which leds to
    “no I’m not, yes you are”…

    There is no escaping this calm before the next storm, except to, as you said, do ones homework. Thanks for the being a resource.

  • Larry Doyle

    One has to continue to run the race everyday. Always the practical optimist while managing one’s risk and understanding the dynamics. Result, never too high, never too low!!






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