Even Prophet of Gloom Nouriel Roubini, the blunt-talking professor of economics at New York University likes stocks. Really? Roubini, predicts that the US economy will get worse before it gets better but admits that his 401K plan is invested in equities.
“You know, I’m not an active investor. I decided for the long haul I’m going to hold equities because over a horizon of 10, 20 years equities outperform any other asset class,” he said. His surprising disclosure may offer some comfort to investors who have lost a big chunk of their savings in the crash. Read the whole story here.