iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,408 Blog Posts

Europe is Especially Screwed

It’s amazing to see”professional money managers” on CNBC exclaim we are at or near a bottom and brag about being fully invested. Mutual funds do not have to be 100% in stock. What’s wrong with having a 10-15% cash position?

I mean, really, if you are bullish and insist on being long stocks, dollar cost average into your favorite positions—from now until summer. Upon doing so, I’m sure you “bottle fuckers” will only be down 20%, instead of 40%, by the 4th of July.

As for Europe:

I want to sell short the entire country of Germany. In 2008, earnings are expected to be down 18%, as slow growth, coupled with a weak dollar, knee caps their exports. The whole world is fighting for the Asian consumer. The one advantage us Americans have over the Euro whores is our incredibly shrinking dollar. It’s killing them.

My guess, German markets will double whatever egregious losses that come out of the U.S., effectively sending the DAX below 6,000.

Oh, and another thing: quit excluding financials from your fucking earnings estimates for the S&P 500. That’s as stupid as the fucktards who exclude food and energy from the inflation data.

Thanks.

Finally, with my money, I want to add to [[SMN]], [[DUG]] and [[LEH]] short. Also, without doubt, oil has significant downside here, which will benefit [[DCR]].

As of right now, my largest position is [[SKF]].

If you enjoy the content at iBankCoin, please follow us on Twitter

30 comments

  1. JakeGint

    As screwed as Brazil?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. JakeGint

    Hit MOS here, too.

    Or SMN, as MON will “take the bagel” today as well.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. CubsRock

    Who is responsible for walking up this shit today?

    JakeGint, how bout updating your blog once in a while?
    http://www.jakegint.blogspot.com/

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. alphadawgg

    Out of MOS for 4 pts this morning. I think we see a pullback this afternoon.

    Scalping with tomahawk in hand.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. BOOMER

    keep an eye on DEEP. something is up there.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. alphadawgg

    MOS will get my cleaver to the head on a break below 93.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. alphadawgg

    Europe is the Beast of Revelation.

    …especially if people cut from the mold of this guy get the nod at the EU.

    We don’t hear political speeches with this kind of energy anymore. Not that we really want to.

    Just saying……..

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. Steve

    Would the S&P just go to 1320 already? My pockets are smoking.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  9. calvino

    Know what you ask for Alpha…

    Brazil screwed??? James L. Cramer has said it’s his favorite economy inthe world.. gues that put the hex on those unsuspecting people. Some Brazilian should do someting bad to him, for doing that to their country.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. bulliSHIT

    anybody concerned about CSCO’s earnings after the bell? JDSU had a positive outlook.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  11. green writer

    Fly,
    Most mutual fund managers must be 95% invested at all times. This means they have no other choice but to tell the world to buy.

    BRIC ON FIRE…Burning Down the House. Germany will get schnitzeled.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  12. Steve

    Europe slowing down means ECB will cut rates=bullish for the dollar.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. Steve

    And gold.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. alphadawgg

    Fly,

    You still in / like FXP here?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. The Fly

    GW:

    I’ve heard people say this before. I know for a fact that some funds DO NOT demand their managers be fully invested.

    My advice: if your fund demands its assets be 95% invested at all times, sell it.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. The Fly

    Alph:

    Yes. But I own more EFU.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. calvino

    Ugly shoes is either finished forming the right shoulder now from its head, or its not going to go down.. ever.. never again.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. jeff -

    what is the top pick here?

    eev, skf, smn, dug?

    resistance is futile
    http://arcticbeacon.com/sound_tidbits/2008/0107-2008-Cloak&Dagger-Eric_Jon_Phelps_Greg_Szymanski.mp3

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  19. student_of_the_trade
    student_of_the_trade

    Germany…..as (or more) screwed as Spain and Italy? If so, is your thesis based on relative stock valuations or do you believe that Germany is in for more troubles on an absolute basis than Spain and Italy?

    CHEERS!

    D

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. Mushroom Stamp

    what % long do you suppose Ken Heebner is right now? I will continue to trust him with my money.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. ottnott

    AAPL is looking like hell today. I saw the chart and thought I was looking at Giuliani’s poll numbers before he dropped out.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  22. Juice

    Yeah, we’re close to a bottom .. another bottom … another 5% rally bottom

    late next week

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  23. jeff -

    Thanks for the info. Down with the banks.

    Down with Rockefeller.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  24. alphadawgg

    Shroom-

    I talked to one of my contacts that Heebner manages money for.

    Heebner is about 4% cash.

    He still thinks we’ll avoid a recession by the skin of our teeth.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  25. ottnott

    Barely avoiding a recession is barely better than a recession, and can be even worse than a recession if the period of barely avoiding drags on and requires the Fed to engage in heroics that have bad side effects further down the road (see bubbles, series of).

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  26. calvino

    CRM has done its thing – someone here can fucking thank me and apologize for all the insolence.

    update.. ugly shoes has also done its thing, the right shoulder dropped for a quick two quid

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  27. JakeGint

    Been with you the whole way, Calvin.

    (‘Cept for that Hucksterbee shit…)

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  28. are we paying attention?
    are we paying attention?

    so why have fly (by cover) and some other guy (by warning) got cautious on DECK short? rumor of good earns?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  29. Zip McDingle

    Is there an easy way to be short Germany? Or all of Europe, for that matter?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  30. nullpointer

    cal-

    congrats on CRM, been rooting for you the whole time.

    fuck i hate that stock, nice textbook bearish engulfing candle today.

    • 0
    • 0
    • 0 Deem this to be "Fake News"