Yep, my chances of becoming a millionaire are slipping away..lol.
Hope this guy is wrong or a lot of people's dreams will be slipping away
Roubini Says Rally Is a "Dead Cat Bounce"
From The Business Insider, March 16, 2009:
We'll admit to being a bit perplexed at Nouriel Roubini's personal investment strategy and how it compares to the advice he gives on the pages of his RGE Monitor. Last we heard, Dr. Doom was 100% long, and invested in index funds. That was apparently true as recently as February, when it was reported in the Financial Times.
And yet if he really "saw this coming." which everyone in the media accepts, it's hard to understand why he'd sit back and watch his 100% long portfolio whither by some 50%. What's more, the NYU academic is actually giving financial advice, and his advice is to sell.
Here's the conclusion to his latest piece (via Calculated Risk) wordily titled: "Reflections on the latest dead cat bounce or bear market suckerís rally"
So, in conclusion and caveat emptor for investors: Dear investors, do enjoy this dead cat bounce and bear market suckerís rally ... donít wait too long until you jump ship while the financial Titanic hits the next financial iceberg: you may get squeezed and crashed in the rush to the lifeboats.