10 yr yields are now at 6%. Italy’s debt to GDP ratio is at least 125%, making them the third most indebted nation in the world. France has the most exposure to Italian debt, with more than 500 billion euros in worthless meatballs on their cheesy balance sheets (I know, that was good). The German’s are not stupid and know this is a fight for survival, literally.
If Italy goes, which it is as represented by 6% 10 yr yields, Spain is next. Listen to me ever so quietly, Germany is not going to backstop 3 trillion euros in Spanish and Italian debt. It is simply too big to save. There will have to be restructuring and the banks will likely trade to $00.00, all of them.
Naturally, before that happens, do-gooders will continue fighting the good fight, telling you that “everything is okay” and “this is manageable.” But they are speaking with forked tongues and fool no one but the weak minded simpleton.
All that aside, I am continuing to do research on my new food and beverage thesis. I am sick and tired of trying to catch the beta waves of stocks like CLF and DECK. It’s a suckers game. There is a whole segment of the market that is rising in a quiet, yet predictable fashion. I am interested in good free cash flow and decent growth.
The PIGS may fall; but people still need to eat and drink. Cliches are for corn can fucking asshats. However, in this case, I am only interested in protection of principal; therefore, I can say whatever the fuck I want to say, AND MORE.
UPDATE: I am allocating 20% of assets in TLT.
If you enjoy the content at iBankCoin, please follow us on Twitter
How do you feel about MCD as a “safe” place to park money?
Hate it. I believe MCD poisons people.
True, dat.
yup straight poison.
The PIGS may fall; but people still need to eat and drink.
And smoke tobacco.
Loving VXX right now.
I got long GOOG with a very tight leash. I will be out by the end of the day if I don’t stop out sooner.
Mr. Le Fly look at Arco in your food thesis, the Mcdonalds of South america
Yes. It will likely get cut from my list. The only reason why it is there is because of South american exposure. However, I hate MCD.
So do you hate MCD as an investment, or just because they poison people? Or do people just poison themselves? You don’t seem like the type to banish a company for social reasons (especially self-inflicted obeisitah (sic))
Dear Tony,
You are on your own.
Best of luck,
Hans
Is it a coincidence that bears got loose yesterday in Ohio? They are about to run wild and shit all over the place bc Mr. Market just killed himself.
Get ready Bulls, we are coming and we brought a monkey with Hepatitis with us!
Hep would be a blessing it was Herpes B
Market will not tank with Energies holding up look at XOM and XLE.
ANYBODY WATCHING COPPER!?
CRASHING…down 6%
who woulda thunk it – le fly is turning into a w buffett type investor 😮
That old fart has an edge the average folk don’t but auto invest religiously every month into simple diversified index funds would have still made you money during the “lost decade” assuming reinvesting dividends and the like.
By the way…old fart referring to Buffet…not Sir Fly who is just now approaching mid life I am guessing.
le sir le flea is mid thirties +/- a few
Don’t the Italians have massive vaults of cheese to collateralize their debt? I thought I saw a picture of said vaults in the F.T.
That’s the French.
The Eyetals like their cheese fresh. Y’know… “da mutz.”
_______
One bank does
http://www.msnbc.msn.com/id/32506081/ns/business-consumer_news/t/parmesan-producers-bank-cheese/
Blessed are the Cheesemakers!
I think I may look at that financing market for the bourbon industry… hmmmm…
_________
got a question — ive been following the markets for 1.5-2 yrs now so im def a newbie…
copper and bonds are yelling that theres trouble but equity markets not following. whats going on?
You have to ask yourself: Who is lying? Are copper and bonds lying? Or is the stock market lying?
Turkish bonds safer than US treasuries in honor of Thanksgiving….gobble gobble
tell that to eddie lampert, he’ll tell ya about the turks. rof
To “eat and drink” I would add “flush”. Throw up a 2 year chart of AWK. Love this stock, think it’s still one of Cain Thaler’s favorites. Not giving advice, just mentioning as Ol’ Jack’s favorite port in a shitstorm.
M.C.T. highlighting AWK at the beginning of the year was/is huge.
maybe John Beck can get this market going?
Checkout BOBS, it is a long term hold with a bunch of beta from lack of interest.
Ummm… I’m gonna have to check with the Bobs on that one…
________
Why the hell arent we down 200+? Who is buying here? Copper crashing, Euro/USD crashing, VIX exploding higher, tech leading downside, sentiment bearish.
FYI we should broke 1200….1194 first line support, then 1172.
just broke*
Piigs may fall, but people still gotta eat? Are you telegraphing a buy signal on SFD?
Could be HRL or Tyson…
HRL is one Fly should be considering too.
______
For me, HRL has had too big a run and not enough of a correction. Near ten year high P/S, mid-range ten year P/B and P/E. There are other considerations but this is not the place for a deep value analysis I think…..
Theory: Obama trying to throw the 2012 elections, perhaps to win some bet he laid down in Chicago w. the sons of Sam Giancana?
No joke here, but the acronym for his new election slogan “Win the Future,” is “WTF!”
Better as a query of course, but whatevs…
_________
Ah, food and drink……
SYY is trading near ten year lows in P/B, P/S, and P/E.
3.9% yield
Perfect for old men like me………
I will start to nibble at 26.
dmnd, treehouse.nestle’s hsy.
Oh, and MCD is way overpriced currently…….
I held it from 1995 until earlier this year………a nice ride.
i want my gabagol and pravalone damn it
About to go green. Who can watch this BS? LOL
@Fly – Still think 5% up – 20% down?
20% to TLT? Indeud