18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,406 Blog Posts

Booked Another Strong Week, Eagerly Awaiting for the Top

If you thought this was a good week for stocks — you are wrong. Whilst FANG or Mag 7 stocks were up 7 percent for the week, the rest of the market wasn’t as accommodative.

Look at the returns.

Risk averse/low beta stocks jimmied higher by 2% for the week, almost matching the lauded returns for the FANG stocks. It’s important for you to know, empirically, this market isn’t a good tape — but instead rife with bubbles and valuations bordering the obscene.

Here were the losing industries for the week.

As for me, I enjoyed gains across the board, as I continue par excellence on a scale you couldn’t imagine possible.

Whilst slow, yet methodical, my methods have produced a year to date return nearing 10%. I closed long, but with a semiconductor short hedge amidst cash totaling 35% of assets. I slid throughout the afternoon from +128bps to close at +73bps, mainly due to boredom, taking random gambits just for the sake of taking them.

Looking into the future, I envision the market completely up-ending and collapsing by the summer, as the Joe Biden economy crashes into its own VR generated fictional world. Valuations are expensive and yields are higher. I am biased long only because of the prevailing trends — but that can and will change rapidly when the panic starts.

Have a good weekend, catamites.

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