The 10 Dumbest Analyst Calls of 2008

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Last but not least is Stephanie Pomboy, who was conveniently interviewed for the first time in more than three years in Barron's this week. She is a macro analyst who founded and runs MacroMavens.

Pomboy has called the structural problems in housing, consumer credit, the dollar and so on going back to 2002. She sees the deleveraging of the consumer and the economy as perhaps a decade-long affair and the government having a continuing and outsized role in financial markets and the economy in general. Stephanie is more bearish than I am -- perhaps 10% plus unemployment, 1% GDP growth (on average) for quite a while -- and a shift from paper to hard assets.

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