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Roubini Selling RGE, CNBC Reports
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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Dr. Doom going into cash, so should you. lol.
Will the new owners allow Roubini to continue with his sartorial shtick ? Tighten the knot, man ! For eleven million in revenues, be presentable.
http://www.charlierose.com/images_toplevel/content/9/931/segment_9310_46...
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.
I heard he will be using the proceeds to short gold and oxygen?!?!
Maybe he is launching the Rubini ETF, ticker symbol, SPAM
"Gimme 10 Bear Spam Spreads, mr. broker....." It had to be said....
With that cash he's going to buy lots of gold bullions.
$2MM of losses.
Dr. Bankrupt
c'mon, its an internet company, slap a 50 times sales multiple on that pig and he is RICH!!!!!!!!!!!!!!!!!
No wonder he's always gloomy.
His salary was probably $10.9M
Dr. Doom closing shop, this must be bullish!?
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.
Who the fuck is dumb enough to buy a consultancy business without the one and only consultant that matters?
Someone who wants to "leverage" the "platform"...
Whomever buys said consultancy.
My money's on Geithner. He'll retire from Treasury and start his new firm, Lying Elf Consultants.
At least he can eat SPAM.
Attention RGE Buyers: Pay in fiat.
Borrowed fiat.
Gettin' out while the gettin' is good; don't blame him.
Trouble paying the mortgage?
This has got to be bullish. He ran out of bad things to talk about right?
The bigger question is what idiot company executive is still paying out for "top advice" like this ?
One who likes having a gilded scape-goat to blame the balance sheet collapse on.
He probably just needs coke money.
Rosie is the only one left.
Taleb and Schiff
Roubini is a pianist in the brothel so to speak. The business is going nowhere due to the occupation taking place in downtown?
http://farm7.static.flickr.com/6098/6234929444_7d45ec0f66_z.jpg
The question is ... will he go long spam?
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.
Calpers will buy it!
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.
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..
I hear Roubini is big in Japan
You forgot to add "t shirt salesman." as in the "I'm with stupid" line updated to account for mayhem on wall street.
I'll buy RGE...for about 5 bucks!
So does this mean that Sandra-golddigger-Navidi will also be out of a job?
I was wondering the other day when I saw her on TV, but she's not working for RGE anymore:
http://www.linkedin.com/in/sandranavidi
RGE is a bauble.
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 not.......be your own hedge fund. You're taking all the risk anyway.
Maybe he'll earn enough to get a decent hair cut.
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.
Roubini is a weenie.
Wow, the news flow has really plummeted. Time for the bottom to fall out.
Stealth QE3 happening now?
Jim Rogers makes a convincing case:
http://video.cnbc.com/gallery/?video=3000050477
Given Republican opposition to more QE this seems to make a lot of sense.
so how much to buy $2 million in losses?
Buying losses? Um, can you say "Internet Bubble???"
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.
If my business only loses $500 this year, does that make my business more successful than Roubini's?
Roubini himself is very questionable "expert" - when asked about gold 5 years ago he thought then it was an overvalued asset.
I never trust grown men that look like they could still suckle from mother..
Roubini, Bernanke, Geithner, and most of all Krugner
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.
I believe defunct economists generally end up being Chairman of the Federal Reserve, or perhaps a presidents economic advisor?
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.]
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 !
"...probably means that Roubini will end up as a blogger and paid panelist...." What about NYU Professor?
$2 million loss on $14 of revenues? Somebody is doing blow...
"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.