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Roubini Selling RGE, CNBC Reports

Tyler Durden's picture


It seems that everyone's favorite Dr.Doom is selling his consultancy after only several years of operation, David Faber reports. The consultancy, according to confidential sales materials, will generate $11MM in revenue and $2MM of losses. The bulk of clients of the 85 person shop, Faber reports, is corporations, not actual investors, making the buyside wonder "who incremental clients will be." We wonder just how any potential buyer will be able to lock up Roubini for several years, without whose presence RGE will have questionable going concern value. We wish @Nouriel the best of luck in his sales process, whose successful conclusion (or otherwise) probably means that Roubini will end up as a blogger and paid panelist.


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Tue, 10/11/2011 - 12:31 | 1761313 DormRoom
DormRoom's picture

Dr. Doom going into cash, so should you. lol.

Tue, 10/11/2011 - 12:42 | 1761378 Don Birnam
Don Birnam's picture

Will the new owners allow Roubini to continue with his sartorial shtick ? Tighten the knot, man ! For eleven million in revenues, be presentable.

Tue, 10/11/2011 - 12:49 | 1761418 ratso
ratso's picture

Dr. Doom is just another stopped clock that is right twice a day.  All doom all the time makes Dr.Doom a dull read.  Not to say anything about how off the mark many of his calls have been.

Tue, 10/11/2011 - 12:51 | 1761433 Pladizow
Pladizow's picture

I heard he will be using the proceeds to short gold and oxygen?!?!

Tue, 10/11/2011 - 13:08 | 1761537 Spitzer
Spitzer's picture

Maybe he is launching the Rubini ETF, ticker symbol, SPAM

Tue, 10/11/2011 - 15:24 | 1762096 Fur Trader
Fur Trader's picture

"Gimme 10 Bear Spam Spreads, mr. broker....."   It had to be said....

Tue, 10/11/2011 - 13:21 | 1761597 e-recep
e-recep's picture

With that cash he's going to buy lots of gold bullions.

Tue, 10/11/2011 - 12:33 | 1761321 Smithovsky
Smithovsky's picture

$2MM of losses.

Dr. Bankrupt

Tue, 10/11/2011 - 12:34 | 1761333 oogs66
oogs66's picture

c'mon, its an internet company, slap a 50 times sales multiple on that pig and he is RICH!!!!!!!!!!!!!!!!!

Tue, 10/11/2011 - 12:37 | 1761356 knukles
knukles's picture

No wonder he's always gloomy.

Tue, 10/11/2011 - 12:41 | 1761380 junkyardjack
junkyardjack's picture

His salary was probably $10.9M 

Tue, 10/11/2011 - 12:32 | 1761325 FoieGras
FoieGras's picture

Dr. Doom closing shop, this must be bullish!?

Tue, 10/11/2011 - 12:59 | 1761474 CPL
CPL's picture

He's getting out of the way of the incoming shit storm.


So yes, it is bullish.  Just don't count on "value" or usefulness in any market instrumentation whent he printing press gets going later today.


If you want to take advantage of it.  Go long starbucks, a small cup of coffee should be around 18 bucks in a year when they run the fiat mill.

Tue, 10/11/2011 - 12:33 | 1761329 Mercury
Mercury's picture

Who the fuck is dumb enough to buy a consultancy business without the one and only consultant that matters?

Tue, 10/11/2011 - 12:35 | 1761341 Strom
Strom's picture

Someone who wants to "leverage" the "platform"...

Tue, 10/11/2011 - 12:36 | 1761346 JSD
JSD's picture

Whomever buys said consultancy.

Tue, 10/11/2011 - 12:46 | 1761402 Nascent_Variable
Nascent_Variable's picture

My money's on Geithner.  He'll retire from Treasury and start his new firm, Lying Elf Consultants.

Tue, 10/11/2011 - 12:36 | 1761343 fuu
fuu's picture

At least he can eat SPAM.

Tue, 10/11/2011 - 12:36 | 1761347 knukles
knukles's picture

Attention RGE Buyers: Pay in fiat.

Tue, 10/11/2011 - 12:58 | 1761485 NotApplicable
NotApplicable's picture

Borrowed fiat.

Tue, 10/11/2011 - 12:36 | 1761348 apberusdisvet
apberusdisvet's picture

Gettin' out while the gettin' is good; don't blame him.

Tue, 10/11/2011 - 12:38 | 1761365 A Man without Q...
A Man without Qualities's picture

Trouble paying the mortgage?

Tue, 10/11/2011 - 12:39 | 1761369 junkyardjack
junkyardjack's picture

This has got to be bullish. He ran out of bad things to talk about right?

Tue, 10/11/2011 - 12:44 | 1761391 Zola
Zola's picture

The bigger question is what idiot company executive is still paying out for "top advice" like this ?

Tue, 10/11/2011 - 13:00 | 1761501 NotApplicable
NotApplicable's picture

One who likes having a gilded scape-goat to blame the balance sheet collapse on.

Tue, 10/11/2011 - 12:45 | 1761397 SheepDog-One
SheepDog-One's picture

He probably just needs coke money.

Tue, 10/11/2011 - 12:45 | 1761398 mogul rider
mogul rider's picture

Rosie is the only one left.



Tue, 10/11/2011 - 12:55 | 1761462 CClarity
CClarity's picture

Taleb and Schiff

Tue, 10/11/2011 - 12:47 | 1761400 reader2010
reader2010's picture

Roubini is a pianist in the brothel so to speak. The business is going nowhere due to the occupation taking place in downtown?

Tue, 10/11/2011 - 12:46 | 1761401 Mongo
Mongo's picture

The question is ... will he go long spam?

Tue, 10/11/2011 - 12:48 | 1761416 mantrid
mantrid's picture

Roubini will end up as a blogger and paid panelist


he just rushed to open spam factory. you know, there'll be a lot of demand for hedge against inflation.

Tue, 10/11/2011 - 12:50 | 1761426 buzzsaw99
buzzsaw99's picture

Calpers will buy it!

Tue, 10/11/2011 - 12:50 | 1761431 Going Loco
Going Loco's picture

He has realised that economics has now degraded to the point where it consists merely of trying to predict actions of governments and CBs (and, possibly, GS). He does not see much of a future when the only job left in his field is guessing which trick Bernanke and his ilk will try next.

Tue, 10/11/2011 - 12:53 | 1761448 cbaba
cbaba's picture

He wants to speak the truth as he did before..

But he is silenced. He is sick of lying under pressure from Wall Street cartel.

Watch him, he will be back again..

Tue, 10/11/2011 - 12:54 | 1761455 Josh Randall
Josh Randall's picture

I hear Roubini is big in Japan

Tue, 10/11/2011 - 12:54 | 1761457 disabledvet
disabledvet's picture

You forgot to add "t shirt salesman." as in the "I'm with stupid" line updated to account for mayhem on wall street.

Tue, 10/11/2011 - 12:57 | 1761479 SilverIsKing
SilverIsKing's picture

I'll buy RGE...for about 5 bucks!

Tue, 10/11/2011 - 12:59 | 1761493 Bokkenrijder
Bokkenrijder's picture

So does this mean that Sandra-golddigger-Navidi will also be out of a job?

Tue, 10/11/2011 - 14:47 | 1761933 Pectoralis
Pectoralis's picture

I was wondering the other day when I saw her on TV, but she's not working for RGE anymore:

Tue, 10/11/2011 - 13:00 | 1761498 spartan117
spartan117's picture

RGE is a bauble.

Tue, 10/11/2011 - 13:01 | 1761509 Dingleberry
Dingleberry's picture

Who the hell needs this ass when the blogs are free to read?  Have any of these clowns been more correct than the main blg sites out there about the shit goin' down now? ? I thnk your own hedge fund. You're taking all the risk anyway.

Tue, 10/11/2011 - 13:04 | 1761517 NotApplicable
NotApplicable's picture

Maybe he'll earn enough to get a decent hair cut.

Tue, 10/11/2011 - 13:09 | 1761536 The Alarmist
The Alarmist's picture

Shouldn't that read "$2 million losses on $11 million in revenues" ? Kind of horse and cart there. BTW, CNBS reported $14m in revenues. Hmm, you think a few good analysts might have spotted that having 85 analysts, researchers and support staff behind a big- time economist might not be sustainable on $14m, but that might explain why they are struggling and why a fool would pay good cash money for the firm.

Tue, 10/11/2011 - 13:08 | 1761538 Gold Man-Sacks
Gold Man-Sacks's picture

Roubini is a weenie.

Tue, 10/11/2011 - 13:09 | 1761545 kahunabear
kahunabear's picture

Wow, the news flow has really plummeted. Time for the bottom to fall out.

Tue, 10/11/2011 - 13:11 | 1761554 Missiondweller
Missiondweller's picture

Stealth QE3 happening now?


Jim Rogers makes a convincing case:


Given Republican opposition to more QE this seems to make a lot of sense.

Tue, 10/11/2011 - 13:17 | 1761584 rumblefish
rumblefish's picture

so how much to buy $2 million in losses?

Tue, 10/11/2011 - 14:21 | 1761860 smlaz
smlaz's picture

Buying losses?  Um, can you say "Internet Bubble???"

Tue, 10/11/2011 - 13:21 | 1761598 augmister
augmister's picture

Shill for the Administration and Obama....  He lost his juice with me...

Going to cash?  DEFLATION.   

PM's will be bought soon on the cheap.

Tue, 10/11/2011 - 13:21 | 1761600 Hansel
Hansel's picture

If my business only loses $500 this year, does that make my business more successful than Roubini's?

Tue, 10/11/2011 - 13:24 | 1761613 Debugas
Debugas's picture

Roubini himself is very questionable "expert" - when asked about gold 5 years ago he thought then it was an overvalued asset.

Tue, 10/11/2011 - 13:26 | 1761619 thunderchief
thunderchief's picture

I never trust grown men that look like they could still suckle from mother..

Roubini, Bernanke, Geithner, and most of all Krugner

Tue, 10/11/2011 - 13:34 | 1761621 thunderchief
thunderchief's picture

I thought these men would never leave the set of.. My three sons/leave it to beaver/the andy griffeth show...

Now they have and are terrorizing the world.

Tue, 10/11/2011 - 13:29 | 1761637 MrPike
MrPike's picture

I believe defunct economists generally end up being Chairman of the Federal Reserve, or perhaps a presidents economic advisor?  

Tue, 10/11/2011 - 13:38 | 1761650 fyrebird
fyrebird's picture

A conversation in the hall, about 3 weeks ago:

Staff: Sir here is the most recent unadjusted quarterly model output.

NR: Thanks. How bad is it?

Staff: About what we thought. Though a bit on the down side. Global instability, Euro crisis, the barbarous relic sitting well over three-K. Martial law here and here. We finally have a definitive Greek default projected, and see what that does to France and Belgium. The models are so far outside tested parameters after this run the techies won't run them without new inputs. They want 6 months to recalibrate.

NR: And the model using real data?

Staff: Bear cavalry.

NR: So we're basically fucked, then.

Staff: Pretty much. The window narrowed by another 6 months in the last run, under optimistic parameters. But the techies said that an additional single sigma deviation along any of 20 axes would have shut it tight yesterday.

NR: One sigma is just a fart in this shit storrm.

Staff: Exactly. So what do you want to do?

NR: [thinking] Call an all-hands for an hour from now. I'm pulling the plug. We'll announce the yearly bonuses, the gold distributions, holiday schedule, and then we bug out.

Staff: What about the assets?

NR: [rubs face with hand] Call Cramer. Call CNBC. They've been on my case to partner, they can have the name and the web site. Come up with a price, I don't even care what it is. Just make it happen --  yesterday.

Staff: Yes sir, I understand. Oh and sir -- thank you.

NR: Certainly. You all deserve it. Take care of your families. Now if you'll excuse me I need to place a few phone calls. I suggest you do the same.

[pan to empty hall. there is a loud voice heard in the distance and closer the sound of desk drawers being emptied into cardborad boxes. pan again to an open door, within which sits a single workstation, on which screen is chart of a slightly wavy line that suddenly drops off a cliff. the line is labeled "S+P 200 DMA". cut.]


Tue, 10/11/2011 - 14:12 | 1761664 NuYawkFrankie
NuYawkFrankie's picture



A Guru-of-Gloom Roubini,

Was that way, because of his ween-ie,

But although it was small,

On Broad St & Wall,

T'was the biggest that they'd ever seen-ie !

Tue, 10/11/2011 - 14:19 | 1761847 smlaz
smlaz's picture

"...probably means that Roubini will end up as a blogger and paid panelist...."  What about NYU Professor?

Tue, 10/11/2011 - 14:22 | 1761861 williambanzai7
williambanzai7's picture

$2 million loss on $14 of revenues? Somebody is doing blow...


Tue, 10/11/2011 - 16:08 | 1762368 gwar5
gwar5's picture

"The idea that QE is primarily to help the economy recover is Keynesian guff, a cover for the true reason. Without it, the U.S. and U.K. would have to compete for global savings at far higher interest rates.... The debt trap has already sprung.... there is only one option for all of them: Buy time by printing yet more money. Banks need governments as much as governments need them. The cost of this survival will be borne by the unwitting saver, who has been frightened into cash only to find it being debased more rapidly than before."

--Alisdair Macleod (of the clan Macleod) economist and former banker.

Also, interesting to note that the two newest Nobel Laureates in economics just announced, both PhD's, are anti-Keynesians who won for explaining why Keynesians are full of shit.

Durden vs Roubini: Tyler by a knockout, as Krugman's head explodes.



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