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DrStool

Bears Suck

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His long-term track record from his newsletter calls has been poor. Using data from newsletter tracker Mark Hulbert, syndicated columnist Eric Tyson showed that Prechter has underperformed the broad market averages by 25 percent per year since 1985. [17].

 

Is 25%/year a lot or how long does it take you to go broke? :lol:

Wilki

 

Since Prechter is still around, one would have to assume that his income comes from selling newsletters and speeches and such, and that he knows better than to trade his own sucky signals.

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I'll vote no on the first and yes on the second.

 

Oh wait, I don't get a vote, I'm only a taxpayer.

 

Well, indirectly you do vote on this, Shorty. You always get to vote to decide which Congress folks are going to take the money out of your wallet and give it to the Special Interest Groups that financed their campaigns. The Fed and Treasury Dept. are simply administrative bodies that enable this process to happen more smoothly and quickly.

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Jamie Dimon's naked 130 million oz silver short

 

 

The link referred to in Jesse's column here suggests JPM is short 130 million oz of silver.

 

For several years, goldbuggy type sites (I am not in any way a gold disbeliever - to me it's a currency that will fly in the face of all fiat) have been claiming that JPMs shorts could potentially ruin them.

 

Even if they had to buy back the entire short at $30 this would cost them 3.9 billion by my maths.

 

Discomfort yes, but where's the evidence of Armageddon?

 

Am I missing something here? (Admittedly the gold short might be proportionately larger, but I'm still not sure I believe it's a bank breaker). In fact almost certainly far less toxic than many other banks' holdings.

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I understand that we are not even at the end of the morning session in Japan, but why is Japan not participating in the love? They were closed yesterday and missed the big pop starting our Sunday evening. So, I would have thought they would have tried to catch-up as soon as their markets opened on their Tuesday.

 

The Japanese markets have not been looking too healthy as late. I thought about a decade or so ago they had Giethner as a consultant to figure out what they did wrong.

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I understand that we are not even at the end of the morning session in Japan, but why is Japan not participating in the love? They were closed yesterday and missed the big pop starting our Sunday evening. So, I would have thought they would have tried to catch-up as soon as their markets opened on their Tuesday.

 

The Japanese markets have not been looking too healthy as late. I thought about a decade or so ago they had Giethner as a consultant to figure out what they did wrong.

 

 

Wow, no wonder they're doing badly. :lol: :lol: :lol:

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I always get confused when the first digit is left off the price.

 

And when it comes to currencies, forget it. I don't know which end is up. Like when down is bullish and up is bearish, which is the nominalator and which the denumberator isn't. I have to deal with the CAD all the time but when I look at the currencies rates, I don't know which is CADUSD and which is USDCAD. And if your base currency is USD then how does a trade of, say GBPJPY or JPYGBP work.

 

I mean, I understand the broad sweep of the impact of relative currency values, but I feel like my head will explode if I even think for one second of trying to trade that stuff. Like how do you make sure you're trading in the intended direction?

 

Am I the only one who's been around the market for 80 years and is still confused by this stuff? :lol: :lol: :lol:

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Northeastern University decides to stop having a football program so they can save 3 million bucks a year.

 

http://www.boston.com/sports/colleges/foot...ootball/?page=1

 

school officials came to terms with the hard truth that the $3 million-plus annual program needed more help - millions more each year - than Northeastern wanted to give.

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Jamie Dimon's naked 130 million oz silver short

 

 

The link referred to in Jesse's column here suggests JPM is short 130 million oz of silver.

 

For several years, goldbuggy type sites (I am not in any way a gold disbeliever - to me it's a currency that will fly in the face of all fiat) have been claiming that JPMs shorts could potentially ruin them.

 

Even if they had to buy back the entire short at $30 this would cost them 3.9 billion by my maths.

 

Discomfort yes, but where's the evidence of Armageddon?

 

Am I missing something here? (Admittedly the gold short might be proportionately larger, but I'm still not sure I believe it's a bank breaker). In fact almost certainly far less toxic than many other banks' holdings.

 

Just after I started to get into the Bear racket I hit on the GATA and assorted other flotsam and jetsam. I recall that JPM and the world as we know it were certain to end when gold crossed above $300. I don't know much but I did know that isn't the way the world works. Then I found a little sanity at Capital Stool.

 

On 1999. In 99 the banks had just been liberated and China has just gotten de facto most favored nation trade status with everyone who counts. The button was thus pushed for the shadow banking system/liquidity engine to open the nitros bottle. The smart people had it figured out then. Well they designed it after all. Dummies like me only understood later and then couldn't believe it could last. Joke on me.

 

Whatever it is now it isn't liquidity, per say. It's something else. Which if the asset markets survive somewhat intact over the next several years I suppose we will understand later. I think it has something to do with corporate assets being as money itself and corporations the law, Whatever that means.

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