Oil analyst Gregor McDonald is tracking the formation of the latest asset bubble, one we commented on two months ago: the rise of Nouriel Roubini. Nouriel deserves all the credit he gets, and the gloom he was regaling Bloomberg viewers with yesterday is as persuasive as ever.
Like all instant household names, however, Nouriel has an inflection point coming: At some point, he will have to reverse course 180-degrees and go positive. Do it too early, and his hard-earned reputation will be blown to smithereens. Do it too late…and his hard-earned reputation will be blown to smithereens.
We’re Nouriel Roubini bulls, and we think he’ll get it right. Having dropped a similar pass in the end-zone a decade ago, however, we know well what’s at stake. So, go get ’em Roubini!