“But I wonder if Ray Dalio’s retirement was equally smart. Could he have timed it perfectly? Did he retire like Michael Jordon after sinking the jump shot in the dying seconds to win the series?”
Category: central banks
‘These Go To 11’: SocGen ‘Goes There’
“This is the second longest stretch of consecutive gains for the MSCI World since its formation in 1969.”
Hurricane Damage: Full Week Ahead Preview
Ok, well it’s Sunday which means, barring Trump wandering into a nuclear war in the next several hours, tomorrow will be Monday. This week they’ll be a lot of talk about…
Booms, Busts And (No) Recoveries
“Painting over cracks”…
The Noisy Status Quo
“This is an environment that is bearish for volatility. It fosters further complacency and encourages continued vol selling.”
Of Cryptos And Kurodas: A Friday Macro Tourist Odyssey
“And before you send me messages how I don’t understand it, don’t forget I was mining bitcoin before most of Wall Street had ever heard of it.”
Trader: Investors Have Become ‘A Great Passel Of Hogs’ Who Will Be Summarily ‘Butchered’
“In a financial world characterized by central bank front running and put issuing, being a swine has been acceptable behavior. You can play the part and not get slapped. However, as we start to seriously contemplate tapering or, dare I say it, normalizing, the risk becomes that the great passel of hogs does meet their prophesized fate and gets butchered.”
Trader: ‘Some Politician Is Going To Make A Bad Mistake Down The Road’
“That’s all a sign of acceptance of looming rate moves coupled with the depressing expectation that some politician is going to make a bad mistake down the road.”
Transparency: The Dark Side
Ok, who’s ready to take another look behind the “fourth wall?”
‘Tell That To Rain Man’
“Either way, you gotta be super smart to run a country and sell vol. buddy, okay? It’s not easy.”
Put On Your Chewbacca Socks And Buy This ‘Stock’ For 160% Gain
“Why bother with hedge funds when you can buy the SNB? They print Swiss Francs and invest the proceeds in stocks.”
Trader: My Glass Is Half Full So Don’t Ruin It For Me, Ok?
“And yet, I almost feel like I’m being an iconoclast by choosing to take a sip from a glass half full.”
1 Million.
“It’s not crazy”…
‘Listen Up!’ Albert Edwards Wants To Talk To You About Bubbles
“The Fed and BoE are once again presiding over a credit bubble, with the BoE in particular suffering a painful episode of cognitive dissonance in an effort to shift the blame elsewhere – the credit bubble is everyone’s fault but theirs.”
Trader: ‘The World Has Changed And You Don’t Know It’
“Truth is, a lot of things are in play, and you have to start thinking about it before you’re forced to chase it.”
I’m Out Of Bullets, How About You?
Can I borrow your double-edged sword?
La, La, La.
Finally, in case you haven’t had enough of “connecting the dots” today, here’s another exercise for you…
In Times Of Crisis…
“It would take a huge leap of faith to say that crises won’t continue to be a regular feature of the current financial system.”
‘When Markets Look At The Blue Sky With Sunglasses’
“We believe it is the right time, when markets look at the blue sky with sunglasses and when the trend and carry is your friend, to recommend downgrading risk assets.”
Bitcoin, Cryptodollars, Gold, Seedy Saloons, Gunfights, And Wampum
“It’s the millennial’s wild west. Like all generations, they’ve discovered a new frontier, with few rules, seedy saloons, gunfights, corpses. As our earthly unknowns disappear, we find new ones in the ether. “
Janet. Fed Preview
Good luck out there – your fate rests on the shoulders of a diminutive economist with a pixie cut…
Bitcoin Avengers Assemble! B.I.S. Says Central Banks Should Create Their Own Cryptocurrencies
If the crypto crowd wasn’t already incensed enough after a week that saw Bitcoin collapse as much as 30% on signs that China is deadly serious about Beijing’s ongoing shakedown in the space and after Jamie Dimon delivered a truly scathing critique of what he’s calling a “fraud” that’s destined to “blow up,” they can now add the B.I.S. to their list of adversaries.
It’s Hard To Quit.
Because then you’ll be actively contributing to the vol. spike (by selling assets or letting them roll off the balance sheet) and passively contributing to it as well by removing the “put” that incentivizes investors to buy dips and suppress volatility.
Even ‘Street Urchins’ Understand How To Trade This Market – So Why Don’t You?
“It’s true that one day it won’t work. But if you’ve cashed in on the previous one-hundred times it happened you can afford it. Thomas Bayes told you so–as would most street urchins.”
The Most Important Paper Of The Next Decade
“Higher real rates, inflation and wage growth to pick up, and inequality going down. This is the opposite conclusion that almost all economists are subscribing to.”
‘I Can’t Do It’
“I can’t do it. I can’t embrace the machines and the vol selling and the ETF parade and the central bankers’ “communication policyâ€. So I’m NOT happy. I don’t sleep well. I DON’T trust the Fed, much less love them, and I never will.”
No ‘Apocalypse Now’, But Maybe Later – Full Week Ahead Preview
This week’s market-moving events are likely to be unscheduled. Remember, Irma is still a catastrophic natural disaster even if it didn’t quite turn into a scene out of a bad Jake Gyllenhaal movie. And as the above mentioned Ben Purvis notes, “Kim Jong Un [could decide] to inject himself into the conversation again,” at any time.
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