Roach Clipped

HA! I made oblique reference to the fact that Morgan Stanley's Chief Economist, Stephen Roach had a laughably bad record. But Rich Karlgaard at Forbes doesn't prance about the shrub.

Since I am in a good mood, let me say something charitable. Roach is not a bad economist. He is just a bad market economist, whose job it is to use economic tools, understanding and reasoning to help investors make profitable investments in the markets. Karlgaard and I aren't saying Roach doesn't know economics. He does. He just can't make you any money with it.