Another bear falls: Dr Doom turns bullish for 2014

Nouriel Roubini, famed for his gloomy predictions on the global economy, has become the latest bear to turn more optimistic over prospects for 2014.

In his outlook for the year ahead, the economist said tail risks will become "less salient" in the coming 12 months, adding he expected advanced economies to grow at an annual pace of around 1.9%. The latter forecast is largely based on a belief in the strength of the US, a country on which Roubini turned more positive last September. That mirrors the base case of fellow renowned bear Hugh Hendry. Investment Week revealed at the end of last year that Hendry has himself become more bullish on trend-following markets. But unlike Hendry, Roubini's forecast also encompasses a notable e...