Billionaire Bears Club
Via Kevin Muir of “The Macro Tourist” fame
I don’t regularly watch CNBC, but last week while on vacation, I turned on the Sirius XM radio and was instantly assaulted with Jim Cramer’s shrieking. I was about to turn the channel when he shouted how the “billionaire bears” might finally be catching a break with the stock market downdraft.
I have to give Cramer credit, that’s a good line to describe the growing cohort of negative investment legends. Wondering if Jim came up with it
Clearly the central bank effect is highly underestimated by virtually everyone. Another strong variable that is kicking would be demographic contraction of duration based on late life asset allocation changes. This should accelerate as stocks rise.