James Altucher Says Doom & Gloom Crowd All Wrong

James Altucher was interviewed by Aaron Task and Henry Blodget, and Altucher said that the doom & gloom crowd, people like Dr. Nouriel Roubini, are wrong, and have been wrong for quite some time regarding their outlook on the markets. Our brains are hard-wired to look for danger," Altucher says. "We don't want to get eaten by a bear [literally]. So when someone is saying ‘watch out for this', our brains react much more strongly than someone saying, ‘things are rosy.'" He mentioned Greece as being an issue that no one talks about anymore, and the liquidity concerns of banks like National Bank of Greece NBG. Altucher particularly singled out Roubini as one of the people who have been consistently wrong, but is put on TV constantly. Altucher said, "[H]e's Dr. Doom [and] gets invited to every conference and is on TV every day," Altucher notes with envy. "I can't even beg to go into a Nouriel Roubini party downtown. Not that'd I want to but, hey, it'd be nice to be invited once."