Because he speaks up when the emperor has no clothes. In his current column he strips Moody's and Standard & Poor's of much of their value:
"The big agencies have a way of warning of trouble spots (like Enron) only after the trouble is evident or of adding to a panic (like Greece's) that is already beyond any rational basis." (Mountains and Molehills; 5/28/10 http://www.forbes.com/forbes/2010/0607/markets-brazil-companhia-saneamento-portfolio-strategy.html).
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