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How insane are these guys to buy big concentrated positions on margin? Incredible.

Wow - that rant reminded me of...

Don't worry folks, the Swiss have enough gold reserves from 'back in the good ole days' :eek:

That's exactly the impression I get when listening to him. It seems good ole' Rogers is in complete denial of the bear market in commodities. Can commodities turn around and start a new bull market? Absolutely, just like the stock markets can. But in Rogers' mind commodities never went into a...

A classic would be a 10-15% snapback rally, 1-2 months of sideways action in the 1000-1150 area, then a successful retest of the 800s (on ultra bad news like worsening economic numbers or more bankruptcies) and then a multi-month rally in the face of bad news on big volume back to the 1200/1300...

Isn't it funny on how Jimmy keeps talking about the 'horrendous bear market' in US stocks (what is it now, -45%?), but how he keeps referring to commodities simply being in a 'correction', although his own commodity index (ticker RJI) is also down 45% :cool:

Looks like Cramer 'borrowed' (read: stole) this idea from Gendell: http://dealbreaker.com/images/thumbs/Tontine%20Investor%20Letter%20(1-Oct-08).pdf (last page) Careful: Tontine might still be long and is liquidating. Blood in the water = others might still be trading against his positions.

You know whenever somebody starts explaining away his performance (or the lack thereof) by how the market got it wrong then you know something is afoul. Schiff has been lambasting Wall St. for years and all of a sudden he's being caught using their exact same series of BS excuses while...

Violent, parabolic bull market :cool:

Excuse me, isn't his book called "Crash proof", released in 2007? Didn't he run his mouth for years on how doing exactly what he preaches will protect you when the market finally unravels? I guess it didn't. Instead of admitting that he got caught on the wrong foot he's explaining his loss...

Fat tail strategies work great until they don't. I wouldn't be surprised to see a large percentage of premium selling CTAs closing shop with their Oct returns. "Dear investor, we're sorry to inform you..." :cool:

That's the problem since these are all OTC agreements. From what I understand, a liability in these transactions becomes an unsecured claim towards your counterparty, nothing else. No exchange guarantees your profit on the transaction. If your counterparty goes bust then you're fucked out of...

Peter sounds scared. He must have been totally killed this year. a) Long gold mines = killed b) Long MLPs & Canadian Royalty Trusts = killed c) Short USD = killed (Peter: "The USD will goto zero, buy foreign stocks as you are not exposed to the imploding USD then". Problem is foreign...

Well I guess it did exactly that.

I like Biggs, like many he had his good and bad calls. He urged people to get out of stocks in 1999 and back in in early 2003 when he predicted a 40% rally. I also think he predicted a 1000 point Dow rally in March after the BSC bailout. He was dead wrong on his melt up call in late 2007...

Watch the Ted spread and 2yr swap spread http://www.bloomberg.com/apps/quote?ticker=.TEDSP:IND http://www.bloomberg.com/apps/quote?ticker=USSP2:IND

TIP

I doubt Buffet cares too much.

Great risk reward? When trillions of dollars worldwide are being incinerated? Be careful out there :cool:

One can only hope the moron at the NY Fed learned his lesson with letting Lehman fail. Not sure what would happen with another one of the same size goes belly up.