How’s that trade working out for you, Jim?
The legendary famed bow’d tied one, living out his winter years in the great satanic continent of Asia, is long China, short U.S. equities. He also said crude was putting in a messy bottom, just prior to falling 6% in a single session.
The point here isn’t to admonish someone for being so wrong, in such a short period of time. There is a comedic aspect to his wrongness. More to the point: Jim was telling people to sell their NYC real estate back in 2009, in exchange for a fucking farm, since he was and still is bullish on commodities. A once legendary investor, indeed. But now he’s a fucking clown and should be masqueraded around Wall Street with big white shoes and a styrofoam button nose.
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What happened to Peter? Why isn’t he on the Teevee telling us he told us this was coming?
You mean MarginCall Rogers?
Fly, Fly, Fly isn’t it so cool that my Shanghai Copper Bubble is finally popping in the big ugly way, I have been waiting for since I started hanging out here in 2009. Jeff Macke (which is a major addition at Ibankcoin, congrats), pointed out that picking the point a bubble pops is like winning the lottery…he was SO right. I would have had this thing bust so much earlier. Maybe I had to learn that bubbles finally pop at a random moment? Not at SPX 1755ish which would have been so much logical when QE was ending and a HUGE glut of commodities were hitting the globe. Only downside is that ECB and BoJ are meeting at the end of the month and they of course will try and fix it.