Nouriel Roubini, who gained fame after predicting the global financial crisis, says his fund will take account of new risks
Nouriel Roubini, aka Dr Doom, has been dishing up his downbeat takes on the global economy and markets for decades. Now investors will finally get the chance to see how his gloomy insights translate into financial returns as Roubini, who earned his Dr Doom moniker for foreseeing the 2008 global financial crisis, turns to managing money for the first time at the age of 66.
Roubini’s view is that climate change will make places such as coastal Florida and Texas near uninhabitable, particularly as insurance companies withdraw cover and the federal government will no longer be able to afford to step into the void. “We believe there will be mass migration in North America and that mass migration will have a significant impact on property prices”.
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