Wednesday, October 12, 2011
The Latest Guru to Go Under
David Faber of CNBC is that Roubini Global Economics, the research firm founded by noted guru Nouriel Roubini, is for sale according to people who have been contacted by an investment bank conducting an auction of the firm. Roubini gained famed during the 2008-2009 credit crisis as Dr. Doom, predicting the economic downturn as well as forecasting the European debt crisis. If anyone is interested in the sale, the firm is projected to have revenues of $14 million this year and it will post a loss of roughly $2 million dollars, and projects eight percent revenue growth into next year followed by 40 percent revenue growth in 2013. Obviously, being a guru is no guarantee of success, and appearing often on TV and at high-powered economic conferences does not ensure profitability.