A little I told you so
from Krugman givren that he's regularly lambasted for things he Got right, just because.
BTW, as far as Bill Gross' downfall, maybe some ideological blinders. Maybe the fact that even for the greatest bond inveswtor if all time there was probably a greater element of luck than anyone would like to admit, himself foremost if he's like most of us.
As it has been said, the guy in the corner office at the NY investment bank is proably the one who flipped heads 5X straight.
The guy who flipped tails the first two or three times is gone, probably works for a ratings agency or something.
If you're way up, walk away from the casino.
"The thing is, Tett is a smart observer who talks to a lot of people in finance; seeing her present a discredited theory as obviously true, without so much as mentioning the kind of analysis that has been worked all along, says bad things about the extent to which anyone who matters has learned anything."