Roubini Says, Its a Suckers Rally

Monday, October 12, 2009

Nouriel Roubini says that he is “still bearish” and that an economic recovery is going to take “longer than expected.”

Regarding earnings, he added that they will “surprise on the downside. Lots of banks, even the better ones, are going to be in trouble.”

“The current rally is a bear-market rally,” Roubini told reporters in Hing Kong. “I don’t expect a 50 percent adjustment that I expected two years ago, but this is a dead-cat bounce, sucker’s rally, whatever you want to call it.”

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