UNPOPULAR OPINION: THE MARKET IS GOING TO GET DESTROYED

All day long I have been entreated to bullish commentary, cheaply clad men on the TV pronouncing the bear market to be over and how the recent turn of events into green is nothing more than a series of events that will eventually, and inexorably, lead to record highs.

In spite of my better judgement, I played the long side today, not because I wanted to — but because duty demanded it. I closed +94bps, underperforming the clown and circus circuit — however boosted and vaccinated by my quant fund +350bps.

Listen to me, the market is going to be destroyed by winter. Inside a fortnight, you will be clamoring for the mid-July days when you were happy and gay — pretending to have knowledge of future events.

It’s over. It has been over for some time and what you’re seeing now is the last gasp of a dying empire, the final rally before the dark settles in and casts poorly dressed men into the deep for the sharks to indulge in.