Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Shades Of Baghdad Bob As Bessent, Trump Deny US Bond Blaze
Scott Bessent on Wednesday tried to wave away some of the worst Treasury market turmoil since March
Calling Hank Tough! Baghdad Bob needs a break to go puke.
Interesting juxtaposition that Scotty finds himself in now, having participated in taking the “Old Lady” down in 1992 with Georgie and Stan the Man.
Perhaps his old bros are having a little fun with him this time around (or at least Georgie might be)?
Trump and Bessent are creating new frontiers for portfolio efficiency – all part of the plan.
This actually made me laugh. Make CAPM Great Again!
He’s cracking. Just as H said he would.
“BE COOL! Everything is going to work out”
Pretty sure that’s a line from Half Baked and you’re just trying to pull a fast one. No way the president of the United States would say that…
Annnnnnnnnd he blinks.
LOL. Glad I held. Two things have given me nerves of steel (and I am prepared for more boat rocking and also to outlast any systemic damage caused by Trump).
1. As I have said here before, after I panicked and went to cash in February, 2020 in both my taxable and non-taxable accounts – then several months later after I realized the Fed was going to save us, I (fortunately) got back in at roughly the same prices I had sold. My lesson learned: I’ll never do that again.
2. H used to regularly suggest that investors should be prepared to survive a 50% decline in their portfolio. When I first read that, I almost collapsed. But then, I did give that idea serious consideration. Lesson learned: I can survive on far less than I currently do. For the “White Lotus” fans among us, I am not anything like Victoria Ratliff. “I just don’t think at this age I’m meant to live an uncomfortable life. I don’t have the will.”
If you ever need proof that the market is a casino and NOT a place to invest in businesses, just look at a chart of the last week. Some serious calculations regarding the net future value of an investment have taken place in short order.
And as an encore, Bessent claiming the tariffs and then reversal were part of the strategy the whole time. Pretty soon, we’re going to see Bessent on TV ranting about Pepe Silvia, Ron Vara, and the mail.
Now he’s being investigated for that “GREAT TIME TO BUY” message. Melissa Lee didn’t seem amused: https://x.com/atrupar/status/1910082049920184453