Marc Faber has a mental disorder. Just today he said he’d feel lucky to only lose 50% of his money in the coming crash. I suppose it wouldn’t make sense for him to just, oh I don’t know, sell his securities and avoid such a horrible fate. Then again, without the dramatic effect of being personally afflicted by the coming crash, Mr. Faber might lose a little realism in his television appearances.
Very simply, today was a total circle jerk. This market is designed to set me back. My only respite is the low beta quality of my current portfolio. I could use a windfall or two: perhaps a surge in IFON or a blast off in ARWR or LITB. One thing is for certain: this market was built for The Option Addict, who once again nailed another call with NMBL ripping off chest hairs today.
For those of you who are just tuning in, iBankCoin is hosting its first ever, and possibly its last ever (depending on my experience with this whole thing) conference. Seek out the details and book your flights now. We do have discounts available for the Encore hotel and will get that information out to you after we finalize the paperwork.
https://www.youtube.com/watch?v=vg1xlLufxIU
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Mr. Faber makes special, unannounced house visits to crash Labor Day parties, too.
at 3am no less.
The music draws a mental image of the esteemed Dr Fly doing the samba in Vegas
I remember listening to faber back in 2010 when I blew up my bullshit zecco acc
I really like to tune in to a Faber interview. He’s a great story teller and a better comedian.
and may I say… what an investment strategy!
Who is scott marlow?
If my suit doesn’t fit, I still have two months in which to change that. See y’all in Vegas!
I am looking forward to killing all of you in las vegas
I imagine the VIP gathering will go something like this- Pleasantries are being exchanged by the distinguished ladies and gentlemen in cordial fashion. Suddenly a mysterious baritone voice thunders from the speaker system thanking everyone for attending the first iBankcoin investor conference and unfortunately for all present attendees, their last. As eyes begin to dart around the room over the tranquil martini glasses, the foyer doors abruptly shut and lock, the lights suddenly crash to utter darkness, and a cacophony of fear envelopes the room. Bedlam erupts and classical music begins to play; Philip Glass I believe. Amidst the chaos of limbs fully akimbo, a crescendo of clapping begins to approach from the sky. A helicopter. The Fly, wearing a top hat and tip to tails black tuxedo bellows a wail of victory and fires his gatling gun, raining bullets through the suite. “Sold to you.”
Well, there’s always plan B: have another beer so that my liver is the consistency of foie gras.
I am running in place…down a half percent on the year. I’m thinking about just putting it all in short term bonds and riding out the next three months. That would guarantee me a positive finish on the year and maybe the chance to buy at lower prices as rates begin to go ape-shit-bolo to the upside.
Was he sporting the sweater vest crashing the party? Or was he doing the football jersey, cargos, flip-flops thing?
A comment about the earlier deflation discussion- While raw material commodity prices may be decreasing, to the average Joe deflation is non-existent. The price jack-up at the grocery store is relentless, and appears to be punitive. That is, some pricing appears to be gamely increased for reasons that have nothing to do with an actual increase in source cost of the product.
Its called reaching for profits in a world without growth. Most of this bull market has been driven by cost and price optimization, with a modest true growth trajectory.
Now that economic growth has taken off, will we see an increase in foundational and consumer driven growth? I guess that is the question and your answer depends on whether you are a bull or bear.
Jpy/Usd last 14 days, Eur/Usd last 30 days
Currency fight hitting commodities. I dont see how joe-grocery-store is being hit. “Real” structural deflation comes when houses, durable goods, Wages, Jobs, and all that good stuff starts being affected
@Huggie Economic growth has taken off? Laugh out loud… Has been modest. Medium. Taken-off not, exactly
What do average Joes have to do with anything?
They are the bag holders. Always and forever.
When chicken fast food and moving pictures are the innovation growth stories of the times. What fucking century is this? Then again… The china version of party like it is 1999 is here. Booyah.
buy nugt
this track is hot too: https://www.youtube.com/watch?v=XLPKI8bOARM
“…possibly its last ever (depending on my experience with this whole thing) conference.”
That made me laugh. You’re already going into it wondering about the quality of human beings that will be showing up.
Please release comments.
After Thursday’s close sentiment was majority bullish, the market was going to new highs, and it was safe to dip buy into oblivion. Then Friday – wham. Of course some people here were advising caution the entire time. Thanks guys. Next week should be interesting.
Every collapse ever happened after all time highs….Commodity deflation is great, it means our governments can print away without having to worry about inflation.
Commodities are the bellwether. They lead and as you said, they are going down.
Why? Because people have no stinking coin to buy anything with. When 80% (more or less) of the jobs “growth” is in minimum wage occupations how can it be any different?
For those wage earners there is very real inflation in all of the things they buy each day to live at a very basic level.
The market is and has been reflecting the lascivious monetary policies of Feds around the world dumping trillions in cash into their respective economies. None of this cash has made it down to Joe 6-pak in anything other than the form of government handouts, which by the way do nothing to increase the wealth of a nation.
Everyone or at least every sentient human being recognizes this for what it it is. A game of musical chairs. Where will you be when the music stops…….and it must and will stop at some point.
If you think this is an odd year check out 1221 AD on Wikipedia. The Mongols ruled and took no prisoners.