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Of Hamster Wheels, Zombies And Spiraling Bubbles!
Just in case "more cowbell" is needed when it comes to "hot takes" on the Fed, we're going to go ahead and round out our wall-to-wall coverage of the March meeting/"impossible"-dovish-surprise with one last glorious missive while it's still "fresh".
On Wednesday evening, we brought you some excerpts and other various soundbites from a handful of desks, and it's only natural that we close the loop (and the cynical among you will appreciate the sense in which "close the loop" can be taken literal
Charlie is exactly correct in my estimation.. He describes the problem that is apparent many of us . It however comes down to the forces that keep moving the goalposts around to keep this all going ..For them reason does not count ..It is existential. H…. you have said the same but I am never sure of how you personally view the alternatives…Ahh, mystery !!!!
well of course he’s correct. but the thing that separates these kind of Charlie takes from other similarly cynical assessments, is that Charlie realizes that irrespective of “principle”/”right”/”wrong” etc., people have to trade and people want to make money, irrespective of what’s “right” or “wrong”. so he always pairs his cynical/sarcastic takes with an actual assessment of what he thinks is likely to happen on a tactical basis. that’s why he’s such a delight and that’s what accounts for his following, imo.
I think I noticed that but thanks for putting a more pragmatic take on it… Need to incorporate some of that into my thinking.
g…..
Hope I’ll be around to see the next “Hi Leverage, Hi Vol” event. That will be a spectacle to behold, and make another once in a lifetime opportunity to make a ton of $.
You will. Despite the more widely accessible information and professional opining, all of this wonky rationalization and graveyard whistling, dressed up as ostensible empirical metrics and economic science, was just as self-assured and oracular about market liquidity and dynamics and business cycle timing and policy and blahblahblah…in 1999 and 2007… Just as the market supposedly “never does what it’s supposed to do” in trading, neither does it listen to the pompous predictions of greed mongers, either.