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He was correct and I wish I had the coins he bought, problem is he is not profiting from it. Still long EURs thinking its going to rebound. I guess he doenst seem disintegration anytime soon

I shorted homebuilders today. Mr Mortgage has something to say about the shadow supply http://www.businessinsider.com/mark-hanson-mortgage-foreclosure-2010-6

Why?

I got to say, its getting really tempting to buy BP its trading at 6x trailling earnings(5 forward). 7.8% forward div yield(8.7% current) The total drop of the market cap from the point of the spill is about $70B, this seems to be more than enough to pay all the litigation/fines, compensate...

Yeah, they are still pumping oil and refiners dont give a damn whos selling it, they just the cheapest oil to refine. The fall in the market cap almost surely takes into account any litigation/fines plus the collapse in oil and the stock market

I was incorrect with regards the BoC but partially, they did act like chickens, just a hawkish version of them 'Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic...

'1336 GMT [Dow Jones] Overall, the Bank of Canada's policy statement was unambiguously on the dovish side of expectations, with the bank almost bending over backward to indicate that this is not necessarily the start of a relentless campaign to crank rates higher, says Doug Porter, deputy chief...

Ackman on why he likes Citi http://finance.yahoo.com/tech-ticker/yes-we-have-healed-why-bill-ackman-is-bullish-on-america-...-and-citigroup-496557.html

I was wrong on the BoC, I dont follow their speeches and indicators, so maybe I need to do a lot of more of homework to understand what are they thinking

A bear case for gold is an early exit from stimulative policies by major central banks, the problem is if the economies dont take that well, they could be forced to ease monetary policy later, so it would create a correction. The big enemy of gold is 'Great Moderation' type periods, so if...

Here are the valuations: 'Average Price/Earnings 25.87' http://finance.yahoo.com/q/hl?s=ITB+Holdings A speculative boom that the will do well next year, with so much shadow supply(that should come on market every time that conditions 'improve') I dont believe there will be much of a...

The banks are simply kicking the can down the road, keeping the supply from collapsing the market "The average borrower in foreclosure has been delinquent for 438 days before actually being evicted, up from 251 days in January 2008, according to LPS Applied Analytics."...

BP is probably a buy at these levels but I'm no expert

Yes the resource boom can fool some as housing is supposed to do better when the economy is doing great. But the valuations are pretty high, at similar levels to other bubbly housing markets, including housing prices to income, and the key about income is that it already takes into account the...

I'm planning to do some shorting of ITB today, homebuilders ETF http://www.businessinsider.com/t2-partners-housing-market-2010-5#ready-to-see-some-real-underwater-housing-see-the-horrors-of-nashvilles-flooding-01 I figure even if that analysis is wrong, the hussman study acts as a backup and...

RBA pulls out the 'lets wait and see card' http://www.bloomberg.com/apps/news?pid=20601068&sid=a_Q_tp.iKXLA I will be surprised if the BoC hikes today, I expect them to stand pat even though consensus is for a hike, you can usually count on central bankers being chickens in times of...

Funny, this might actually be a bearish report, the investment in housing so high means so much supply is going to come, this might break their housing market. And also it could induce the BoC to make a mistake tomorrow and hike rates

This could be used as a rough guide on when start to cut back bearish bets and start going long some select risk assets http://www.businessinsider.com/henry-blodget-this-bear-market-is-nowhere-near-a-buying-opportunity-says-rosenberg-2010-5

Actually the overnight rate there did not move, I made a mistake looking at the data. the 1m rate moved, but the overnight rate is still 25bps, if there was a contract based on that I would play it but the contract is for the 3m only

Yep, the Canada overnight bankers acceptance has jumped from 25bps to 47bps(start of the year to right now). USD libor overnight jumped from 17bps to 30bps in the same period Counter-party/liquidity worries. If China blows up and the australian housing market tumbles I dont want to be long...