I am sick of the commentary on CNBC. It’s hurting investors and keeping them long equities into what could be the worst financial crisis ever. We are looking down the barrel of -80% decline in business. Bridgewater, giant hedge fund run by intelligent people, project a loss of $4 trillion in business in America alone.
I did a lot of things today, but settled on a 2x FAZ position rolling into total lockdown. Lots of credit conditions are beyond scary. Oil got face fucked for -20% peak to trough today — setting the stage of a complete meltdown in HY bonds. The Fed is now printing money (BRRRRRRRR) to buy munis, in order to keep cities afloat. The whole scheme is treacherous and this is happening because the conditions to expose our weakness was there before the virus. China didn’t need to send soldiers. They sent tourists and sunk the country — because it was sinkable.
Don’t talk shit if you have a glass jaw.
My advice, buy more toilet paper, lots of food and meds, withdraw cash from the bank, and prepare for the worst times you have ever witnessed.
Today’s closed trades.