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Former Lehman Trader Weighs In On The Issues As Investors Ponder An Uncertain Future
Back on January 31, Bloomberg's Mark Cudmore wrote the following about what he perceived as an eerie silence from the bears:
I’m suddenly nervous about global equity markets and it’s not for any good fundamental reason. My concern is primarily driven by the fact that, for once, no-one else out there seems worried at all. It seems nobody cares.
As we noted at the time, bullishness was indeed rampant despite early signs that the cracks were starting to form. Cudmore's January 31 piece came at
Poor Mark, as we finally got the long awaited dollar bounce begin right after his appearance above on MV.
Speaking of MV and commodities, the latest MV edition offers deep insight into copper with independent Canadian resource manager Marin Katusa – and some compelling analysis about how Russia could, if it wants, plunge America into its worst energy crisis in history with absolutely no US recourse except to freeze in the dark (imperiling the lives of millions in winter) and see its economy grind to a complete halt. Never heard that before. An eye opener worth checking out.
So he is long uranium, and select uranium enrichment and copper stocks for the long run in his private hedge fund (already fully subscribed and closed to new investors).
Marin Katusa. Ha, ha! Seriously? XXXXX
Well seriously, his fund has earned an average 40% per year, according to what host Erik Townsend of MacroVoices said. At that ROR your investment doubles each two years. “Ha ha! Seriously”.
Huh?
The shorts and inverses have been doing crazy volume.
The tidal wave of corporate buybacks, running at about twice last year’s level, will dampen volatility and retard the correction. Bulls and bears both will find themselves wrong-footed on many shallow market swings.
Lehman was always the “Smart” money when I was an option market maker, usually scared us to death as we’d have to wait all day to get off our hedges. This guy seems pretty tuned in to what’s happening. But of course with all these interviews, no real guidance you can make a trade on.