End of the Quarter Chicanery

Bill Miller from LM is down 13.5% year to date. Aside from Bill, there are a lot of dumb men, who manage billions of dollars, down double digits for 2009. The trapped rats who manage billions will try to juice the market today, in order to avoid massive redemptions. However, whether you are up 15% or down 15%, money is being withdrawn from hedge funds, as investors say “fuck this shit,” take their ball and go home.

Sure, we can have a little fun, gunning bear market rallies, making believe nothing is amiss. But we’d just be lying to ourselves.

None of the steel or aluminum makers will make money in 2009, due to depressed metal prices. You already know about cranes and oil rigs. In short, there is not much to bet on, with any real confidence. Everything is a fucking trade—nothing matters. Trade your dog you fucking animals.

With my money, thus far, I’ve done nothing. I am mostly cash, with positions in FAZ, SRS, TLT and SCO. Most likely, I will allocate more cash, within an hour or so. Once again, I have meetings to attend and will be leaving early today.