I ran into Nouriel Roubini, the New York University economist who made his name by being very gloomy about the world economy and the financial system before both came crashing down, last night. I think it is fair to say that he was looking extremely cheerful.
For one thing, Prof Roubini – who is known as Doctor Doom – is omnipresent in Davos this year, along with his fellow seer of pessimism, Nassim Nicholas Taleb, author of The Black Swan. He is officially on four panels (Mr Taleb is on six) but he told me he is speaking at 10 events in Davos altogether.
Furthermore, the crash seems to have been good for business. Apart from being an academic, Prof Roubini runs an analysis and consulting firm called Roubini Global Economics and a subscription-based internet site called RGE Global Monitor. The two now employ 50 people and he says he is still hiring.
Prof Roubini is also in heavy demand as a consultant to the private sector, including hedge funds. His social profile has even been raised by the internet site Gawker, which has dubbed him a “playboy” because of the fun-filled parties he holds at his loft in Tribeca. A CNBC interview with Prof Roubini ran with the on-screen title “Party Monster in the Mountains”.
He told me that even this has some benefits: after giving a two-hour presentation on economics to a hedge fund recently, he was asked various serious questions. Finally, at the end of the meeting, one of the financiers raised his hand and asked if he could get an invitation to one of Prof Roubini’s parties.
