Nobody appears to take the financial situation more seriously than NYU economist Nouriel Roubini, whose gloomy prognostications have earned him the nickname "Dr. Doom."

Roubini regularly makes the rounds of financial TV shows and op-ed pages predicting a catastrophic meltdown to come for the global banking system and, by extension, for stocks.

So how are Roubini's own funds invested? One hundred percent in stocks, reports the Financial Times.

In the long run, stocks do best and he is not yet close to retirement, so he keeps putting more money into index funds each month, reports the newspaper.

Roubini appears to be as fully aware of the futility of trying to time the stock market as he does of the economy’s problems, a position hedge fund trader Nick Gogerty appreciates.

“I have found in my research of mutual and hedge funds that most investors underperform both the mutual and hedge funds they invest in,” Gogerty writes in Seeking Alpha.

“Even after the work of selecting a great vehicle, the average investor manages to extract below average returns from that investment vehicle.”

The reason? Impatience that leads to selling too soon.

“If the individual switches often in ‘less than a year’ to the next hot thing, they are in trouble,” Gogerty says.

“The stream is swift and you are going up and into it, plan carefully and thoroughly.”