Roubini, Soros Warn Stock Markets Could Lose Gains

Nouriel Roubini continues to warn that we are in the midst of a “W-shaped” recovery, while famed currency trader George Soros points to a “bankrupt” banking system as the culprit.

“Markets have gone up too much, too soon, too fast,” Roubini, who accurately predicted the financial crisis, said in an interview in Istanbul on Oct. 3. U.S. stocks may suffer a “major decline” after climbing to the highest levels in almost a year two weeks ago, according to technical analyst Robert Prechter, founder of Elliott Wave International Inc.

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