Patiently Waiting for Carnage

Good morning —

I had to bail out of most of my oils this morning as the price suddenly swooned lower. I added to my UVIX position and some military contractors and now patiently sit in the tall grass waiting for the mustard seeds to grow and flourish like wild flowers.

There are innumerable ways this market can collapse, mostly off the weight of its own hubris. Slowly but surely, the foundations of it fribble away — like hard pieces of earth being washed away by a hard current. I am of course prepared for all theatricalities, as all professional money managers should — especially during a time of war. Whilst my gains are bountiful for the year, +38% — I cannot be mollified. I endeavor, if I might say so, to profit mightily from the coming collapse and sit restive — both fixed and focused — as the unwashed catamite longs herald in what they believe to be a bull market renewed — but instead invite ravenous discord.

The gaieties will soon end and with it the sinister schemes of quill pushers and blackguardly caitiffs.

Early going, the NASDAQ is +77 with bond yields coming in. I happen to be long bonds via $TMF and feel in a risk off event we can finally see rates coming down on the 10yr BELOW 4%. Perhaps there is a silver lining in all of the death and carnage, after all.