Nouriel Roubini

I believe investors should invest for the long run, so I don't buy and sell. I usually maintain the classic index of global equities, diversified U.S. and global and emerging markets, and when the risk is larger, I diminish the amount in global equities and put more into liquid assets - but very irregularly.

The U.S. has been living in a situation of excesses for too long. Consumers were out spending more than their income and the country was spending more than its income, running up large current-account deficits. Now we have to tighten our belts and save more.

Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue... when you see there is no oxygen, things change.

If I'm not barefoot, you'll probably find me with a pair of New Balance on. And I'm not one of those hipster-jump-on-the-band-wagon-ironically-cool NB fans. I've been rocking those kicks since they were true nerd shoes. Since the '80s, yo! Word.