Search results

Greeks have been drawing down deposits at €700M/week for 2 years. As much to do w/a contracting economy as it is about mattress stuffing. Slept on it and decided I made the right decision on Monday night. Back out of euro short. No blood.

Just re-shorted some euros. Cost myself 95 pips covering yesterday evening. Today's action was pretty ugly, and I've got a queasy meltdown-coming-on feeling in my stomach. It makes sense to remain short euros and hold onto my S&P puts for awhile longer.

Vote in New Democracy or PASOK (or some coalition of the 2) in June and Brussels will throw Athens a bone.

The reasoning - as I thought the quote bit ahead of my trade - is Daal has top-ticked (actually bottom-ticked) the euro about half a dozen times or more over the past few months. The euro falls nearly 500 pips in a straight line over May's first two weeks, and then he announces a major addition...

Covered my euro shorts (not kidding, $1.2825). :cool:

Is he ever anything other than pedantic? Enjoying the shorter posts though.:p

From recent talk by James Montier ... Anchoring — give someone a number — any number — and s/he thinks it means something (even when it doesn’t). Notes: http://rpseawright.wordpress.com/2012/05/06/cfa-conference-james-montier/ Full talk...

Better than 50% chance Dimon doesn't survive this. W/O the prince, JPM is just another POS bank sitting on plenty of capital, but no good way to make a lot money. MSFT and WMT would be better bets.

Why do people consider knife-catching a sophisticated investment strategy?:confused:

Agreed ... other than turning a relatively small amount of starting capital into a billion, totally overrated.

Comparing shorting Fannie Mae or Lehman in 2008 vs. SPY with shorting BHP or WBC in 2012 vs. EWA ... well, it's not only not in the same ballpark, it's not in the same league, it's not even in the same f-ing sport (thank you Q.T.). As for a basket, that's fine - pick the big miners or big...

http://kiddynamitesworld.com/so-you-wanna-talk-about-jpms-trading-loss-and-the-london-whale/

Makes no sense. A person doesn't have the knowledge to understand the difference between a miner or a bank or a retailer in Oz, but they have enough insight to wager serious money the Oz economy is set to struggle, the currency is set to weaken, and this should lead to a decline in an index...

JPM wow. Score on for ZH which called this coming a month ago.

Anybody in Zillow, do realize that Cramer just top-ticked it this morning, comparing it to Priceline and Netflix. Nice work bozo after the stock doubles in 4 months. If I was smart, I'd sell this moment and buy it back 20% cheaper.

I would also add that Greece is a wonderful place and my family and I eagerly await the return of the drachma, and will provide our support by taking a vacation there and spending large amounts of good, hard currency (if that's what you can call the greenback) ASAP after the devaluation. I...

I'm in favor of full default, but this is a naive analysis. The capital of the banking system and the pension fund system will be wiped out in a default. The economy would have a quick collapse ... from there they could set about rebuilding, a la Iceland...

It's illogical to depend on some index to bail you out of not having enough knowledge or not wanting to do the work. If shorting BHP or WBC isn't an obvious pick to you (or scares you), why the hell would shorting EWA be a good move?

Doesn't compute. You should pick individual stocks/sectors to short. There will be many struggling companies in Oz that take off if the currency weakens. BHP and WBC are two of the big holdings of EWA - you should just short these individually. EWA is heavily composed of banks and miners...

A one day sell-off and Gross and Hatzius are already on the tape calling for more QE ... and I'm the crackpot? :D Bernanke has created a huge mess, maybe worse than Greenspan ever did. You've now got grown men, fabulously wealthy, calling for QE every time markets tick down. Truly sad.