Leon Cooperman is out complaining again, this time about moron traders at Robinhood.
COOPERMAN SAYS ROBINHOOD TRADERS ARE STUPID, THEIR RUN WILL END IN TEARS!
pic.twitter.com/3Z02D2PeZ6— The_Real_Fly (@The_Real_Fly) June 15, 2020
This is typical old man stuff. My grandparents used to complain to me about the street lights and how the kerosene ones lit by hand by the lamp man were better and more reliable. When I introduced them to the tv remote and the VCR, they nearly had a stroke. Old people, by definition, are incompetent. If you can find a man over 70 who is sharp, he is an outlier. Mr. Copperman’s best days are behind him and we can only hope to have a glimmer of his very best, carving out a brilliant career for himself, amassing a vast fortune.
Yet here I am talking shit about him. This is how thew world works, one person shitting on top of the next until there are no shits left.
The Dow is down, Nasdaq is up and I sense turbulence in the tape and have taken out a hedge against my newly minted positions. I’m mostly cash, about 65%, trading like a scared girl inside of a haunted mansion.
Here are my booked gains for today.
BIOC +20%
NAIL +4.2%
TNA +4.1% x2
RWT +8%
UPDATE: ON THE FED BOND BUYING NEWS, I CLOSED OUT MY ONLY HEDGE, TVIX, FOR A 6% LOSS
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I really thought fed buying bonds was 2 months old news??
Soon they’ll open a Robinhood acct and buy some HTZ.
Oh the drama!
Fed wants to be a bagholder. Treasuries maybe but corporate bonds is balance sheet suicide. Similar to mortgage backed securities from TARP, poisonous to price-discover both due to mark to market and issuers won’t be good for the money in anycase. Shooting from the hip here but something like that…
Suicide to own B bonds sure – unless you have several hundred billion in taxpayers funds looking to take the first loss. Socialize the pain, capitilize the gain…
Feel like you gotta keep buying with two hands here, kinda like stroke Trump drinking water
Kinda like holding an AK-47 in the CHAZ
and here I thought that TSLA run was over. Wow.
Looks like Democrat run NYC is about to get rid of the anti-crime unit at the NYPD. They also want a HUGE cut to the cops budget. Once the city becomes a zoo, the Dem voters will migrate to other states and vote blue once again bringing down any sane communities that are left.
Part of the master plan to crash real estate in NYC and margin call all the shitty Chicom gamblers. Then real investors will scoop up the properties for cheap, make the city cleaner and safer, and then dump it to the next gen of suckers.
Red states can’t do anything but grow corn and natural resource extraction… also provide cheap housing for those on social security. You literally get to move up a social class if you leave New York or the Bay Area.
Wall street and silicon valley are in blue states. By coincidence naturally!
Taxes are the price you pay for civilization. Giving illiterate shiftless people food stamps is the cheapest way to keep them off the streets.
(By the way NYC is full of homeless Caucasians from red states. They all come here to ask me for change.)
You guys realize a hedge fund manager who moves to New Jersey instead of Larchmont or Stamford is telling all his clients that he is broke right? That he, unlike a true boss… has so little money he can count it.
His wife needs to go to the met gala and the NY Ballet. She doesn’t give a fuck what the tax rate is, she ain’t moving to Missouri.
Blue states have higher GDP per capita and higher wages… And all the Ivy league schools.
Feel free to disregard how clearly mistaken your analysis is.
And now I get to re-short at even better prices. Unreal.
Let’s say that the FED says that they are going to purchase large stock of manure. Of course the price of manure will go up. When the FED stops, price disccovery (supply and demand) will pull the price back lower. No if the FED behaves in a staircase fashion, wher they keep intervening at higher and higher prices (as in buying 1 weel after we hit ATH…), then the price continulaly moves up.
Because the FED can’t effect the workign-class consumption base and Congress refuses to (https://ibankcoin.com/flyblog/2020/06/12/futures-explode-higher-let-games-begin/#comment-573869), fundamental demand isn’t moving as much as stocks are pricing. THis was evident in April when incomes rose 12% and consumptio ndropped 13%.
What is important to realize is that without fundamentals changing, then whenever the FED stops, the price will drop again. More importantly, this won’t just erase the effects of the **last** intervention, but will erase the effects of *all* the interventions until supply and deman balacne again.
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