"New period of uncertainty & volatility has begun; it seems likely to lead to choppy economies & markets." - in Project Syndicate
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 30, 2013
Jun 27, 2013
Gold Bugs Strangely Silent & Quiet
"Gold bugs strangely silent and quiet. They must be eating crow..." - in Roubini`s Official Twitter
Related stocks and ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Related stocks and ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 26, 2013
Gold: There Are Many Reasons Why The Bubble Has Burst
"At the peak, gold bugs – a combination of paranoid investors and others with a fear-based political agenda – were happily predicting gold prices going to $2,000, $3,000, and even to $5,000 in a matter of years. There are many reasons why the bubble has burst, and why gold prices are likely to move much lower, toward $1,000 by 2015." - in Finance Townhall
Related ETFs: SPDR Gold Trust (ETF) (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Related ETFs: SPDR Gold Trust (ETF) (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 24, 2013
Fed`s Liquidity Injections Are Not Creating Credit For The Real Economy
"The Fed’s liquidity injections are not creating credit for the real economy but rather boosting leverage and risk-taking in financial markets." - in Wealth Daily
Related ETFs: Financial Select Sector SPDR ETF (XLF), SPDR SP 500 ETF (SPY), iShares MSCI Emerging Markets ETF (EEM)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Related ETFs: Financial Select Sector SPDR ETF (XLF), SPDR SP 500 ETF (SPY), iShares MSCI Emerging Markets ETF (EEM)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Be Sure Your Seat Belt Is Securely Fastened
“Be sure your seat belt is securely fastened, because nothing has really come to rest. We have entered the ‘New Abnormal’, a period in which...the wise investor is prepared to be surprised.” - in a recent paper with Ian Bremmer
Related ETFs: iShares MSCI Emerging Markets (ETF) (EEM), SPDR SP 500 ETF (NYSE:SPY), SPDR Gold Trust ETF (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Related ETFs: iShares MSCI Emerging Markets (ETF) (EEM), SPDR SP 500 ETF (NYSE:SPY), SPDR Gold Trust ETF (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 13, 2013
Gold: Keynes’s ‘Barbarous Relic’
“Gold remains John Maynard Keynes’s ‘barbarous relic,’ with no intrinsic value and used mainly as a hedge against mostly irrational fear and panic.” - in Minyanville
Related ETF: SPDR Gold Trust ETF (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Related ETF: SPDR Gold Trust ETF (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 11, 2013
Gold: A 6-Point Bear Case
Here’s a recap of Roubini’s six-point case, in his piece for Project Syndicate:
1. Gold spikes in times of serious economic, financial and geopolitical risks — think “financial Armageddon.” But that doesn’t make it such a safe investment, says Roubini, noting sharp falls in gold prices during crisis periods of 2008 and 2009.
2. Gold performs best in times of high inflationary risks, as its popularity grows under the view that it is a hedge against inflation. But even after aggressive monetary policy by central banks, he says, global inflation is low and dropping further, and commodity prices are adjusted downwards.
3. Gold provides no income. With equities, you get dividends; with bonds, coupons and with property, rent. Now that the global economy is recovering, other assets are providing higher returns — so who needs gold, which has “vastly” underperformed since early 2009 versus stocks, he asks.
4. Real rates are headed higher on the view that the Federal Reserve and other central banks are going to back out of quantitative easing and zero-policy rates. “The time to buy gold is when the real returns on cash and bonds are negative, and falling,” and that’s not now, he says.
5. Highly indebted sovereigns are not pushing investors towards gold and away from their bonds. In fact, many of these governments have high stocks of gold, which they may dump to cut debt. Italy, for one, could be tempted to pare back on its huge holdings.
6. Political conservatives in the U.S. have hyped gold so much that it’s become counterproductive. “For this far-right fringe, gold is the only hedge against the risk posed by the government’s conspiracy to expropriate wealth,” he says.
in MarketWatch Blog
Related stocks and ETFs: Goldcorp (GG), Newmont Mining (NEM), Barrick Gold (ABX), SPDR Gold Trust (ETF) (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
1. Gold spikes in times of serious economic, financial and geopolitical risks — think “financial Armageddon.” But that doesn’t make it such a safe investment, says Roubini, noting sharp falls in gold prices during crisis periods of 2008 and 2009.
2. Gold performs best in times of high inflationary risks, as its popularity grows under the view that it is a hedge against inflation. But even after aggressive monetary policy by central banks, he says, global inflation is low and dropping further, and commodity prices are adjusted downwards.
3. Gold provides no income. With equities, you get dividends; with bonds, coupons and with property, rent. Now that the global economy is recovering, other assets are providing higher returns — so who needs gold, which has “vastly” underperformed since early 2009 versus stocks, he asks.
4. Real rates are headed higher on the view that the Federal Reserve and other central banks are going to back out of quantitative easing and zero-policy rates. “The time to buy gold is when the real returns on cash and bonds are negative, and falling,” and that’s not now, he says.
5. Highly indebted sovereigns are not pushing investors towards gold and away from their bonds. In fact, many of these governments have high stocks of gold, which they may dump to cut debt. Italy, for one, could be tempted to pare back on its huge holdings.
6. Political conservatives in the U.S. have hyped gold so much that it’s become counterproductive. “For this far-right fringe, gold is the only hedge against the risk posed by the government’s conspiracy to expropriate wealth,” he says.
in MarketWatch Blog
Related stocks and ETFs: Goldcorp (GG), Newmont Mining (NEM), Barrick Gold (ABX), SPDR Gold Trust (ETF) (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 6, 2013
Gold Prices Are Likely To Move Much Lower
"There are many reasons why the bubble has burst, and why gold prices are likely to move much lower, toward $1,000 by 2015." - in The Guardian
Related stocks and ETFs: SPDR Gold Trust (ETF) (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Related stocks and ETFs: SPDR Gold Trust (ETF) (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
The Gold Bubble Is Deflating
"The runup in gold prices in recent years – from $800 per ounce in early 2009 to above $1,900 in the autumn of 2011 – had all the features of a bubble. Now, like all asset-price surges that are divorced from the fundamentals of supply and demand, the gold bubble is deflating." - in The Guardian
Related ETFs: SPDR Gold Trust ETF (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Related ETFs: SPDR Gold Trust ETF (GLD)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 5, 2013
Gold Is Solely A Play On Capital Appreciation
"Unlike other assets, gold does not provide any income. Whereas equities have dividends, bonds have coupons, and homes provide rents, gold is solely a play on capital appreciation. Now that the global economy is recovering, other assets – equities or even revived real estate – thus provide higher returns." - in A World Of Ideas
Related ETFs: SPDR Gold Trust ETF (GLD), SPDR SP 500 ETF (SPY)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Related ETFs: SPDR Gold Trust ETF (GLD), SPDR SP 500 ETF (SPY)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 4, 2013
Video: Stock Rally Will Continue
Video Summary: Nouriel Roubini tells "Closing Bell" stocks will continue to rally as central banks continue to pump liquidity into the system, but a possible correction looms later.
Related ETFs: SPDR SP 500 ETF (NYSE:SPY), iShares MSCI Emerging Markets (ETF) (EEM)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Jun 3, 2013
Art: A New Major Asset Class
"From the Venice Art Biennal it looks like art is indeed a new major asset class. It may be in a bubble as a frenzy of new collectors emerges." - in Roubini`s Official Twitter
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
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