Barrel Strength

… then why are you going broke?  New York University Professor Nouriel Roubini, who predicted the financial crisis in 2006, said “We’ve reached a situation of sheer panic.  There will be massive dumping of assets and hundreds of hedge funds are going to go bust”.  Aren’t hedge funds and their associated advisors suppose to be the home of “Master of the Universe” with brilliant insights and analysis such as this?  Gregory Valliere, Chief Strategist at Stanford Group Company which provides its clients with a comprehensive breadth of private wealth management and institutional investment services,  at the 2008 BCA Investment Conference paints “Barack Obama as a seasoned Senator, unlikely to make the same mistakes as Bill Clinton did in his first two years in office, which were capped by a strong conservative backlash in 1994 led by Newt Gingrich.”

One assumes that it only takes one season to become a “seasoned Senator”.  For comparison, Bill Clinton was a Governor of Arkansas in 1978 and went on to become POTUS in 1992.  Perhaps the smart ones in that industry have moved on.