Inevitably, much if not near all of what you know is bullshit. From your morality to the reasons you choose investments (bullshit term), it is all bullshit. You need to reject every bullshit notion you have in order to see clearly. I simply call to you to remove the bullshit crust from your eyes! Now, the scientific method shows us that rejecting falsehoods is the best method of discovery while constructing a coherent theory is extremely tough and in some cases, futile. In the practice of markets, it must be concluded that is less than a science, so we must not try to construct any theories at all but merely reject bullshit.
I’ll get us started (please feel free to add):
1 – The “bond bubble” thesis is bullshit. Bubbles are disconnected from any or all objective measures of value. Flight to a relatively secure stream payments in uncertain times is not a bubble. Bond prices are historically high, but it is not a bubble as the rise is based on reason. Argue that the level of uncertainty is bubblish and you sir, are a fucktard.
2 – The “smart money” thesis is bullshit. Pay no attention to 13-Gs. Empirical data suggests most don’t have a fucking clue. The notable names do well because idiots blindly follow but the majority aren’t beating the SPY.
3 – The “European Debt Crisis is over” is bullshit. Does anyone realize that Ireland CDS are higher now than last month and Spain is nearly as high. Chartists would go ape shit over Spains CDS.
so are you bearish? at least near term..because last i heard fly was looking for a little bounce
yes i am bearish until i see reason to not be. fly’s calls have been very good, but i don’t see a reason to buy tomorrow unless we have significant capitulation (down 300+). if that pits us against each other so be it. when we were last at odds, he was correct until i was proven correct.
as with anything, this outlook can change on a dime.