Patriciu has constantly given warnings about the direction in which the Stock Exchange is headed. He forecasted as early as the beginning of last year that the Romanian Stock Exchange was on the brink of collapse.
Thus, the businessman becomes Dr. Doom of the local Stock Exchange, considering that, in 2006, Economics Professor Nouriel Roubini, later called Dr. Doom, foretold that the U.S. economy was headed towards a financial crisis that will lead to recession.
“There will be fluctuations. There is talk about al kinds of evolution of the market, V-shaped, U-shaped or L-shaped, but the real image is that of a fall and fluctuations in the lower side. At present, there is no opportunity on the Bucharest Stock Exchange, except that of losing money. You cannot win on a Stock Exchange that is both illiquid and extremely volatile. You must be a coffee fortuneteller to know what will happen next,” Patriciu said yesterday.
“I believe in the future of BVB, if it will be smart enough to become a regional Stock Exchange. It has to attract companies of the small surrounding economies, such as Moldova, Bulgaria, Serbia, Bosnia, Macedonia, and Albania, Montenegro. It needs a market not of 20 million people, but of 100 million people, who develop potentially successful companies. Thus, Romania could become the largest economy in the region and its economic engine,” Patriciu added.
