Trader: ‘This Feels Like A Throwback To The Pre-Weekend Choices We Had To Make During The Crisis’
To be clear, you don’t ever want to count out the dip-buyers. But…
To be clear, you don’t ever want to count out the dip-buyers. But…
So there you go. You can take that to the bank. Or not.
It’s comforting. Sort of. But sort of not.
“In that cyclical context, the historic record leaves little doubt about the foolishness of pricing the stock market at peak PE multiples during the final innings of the business cycle.”
On the bright side, remember that people were talking about high yield and canaries in November and we got through that ok.
The bottom line: for credit investors, the risk of central banks becoming more hawkish is now a two-headed beast.
Whatever the case, it looks like Goldman’s buyback desk isn’t enough to stop the bleeding in an acute situation…
It may be time to question your religion.
“Last week’s twin 1,000 point plunges on the Dow were not errors.”
Well damn. That moved from “early-stage” to “advanced” de-risking pretty goddamn quickly, didn’t it?
“Can you feel the tension, in the air right now?”
So you tell me: “healthy correction” or “global rout”?
Who’s ready for another week like last week?!
“… if you are still in the Wall Street casino, run don’t walk toward the nearest emergency exit.”
This should be interesting.
As one derivatives trader we spoke with back in November put it, “almost everyone needs an exchange.” When you shutter these exchanges or worse, if governments were to make convertibility into dollars, yen, euros (or whatever) illegal, this whole thing would go “poof!” overnight.
Well fast forward to Sunday, and there’s more cryptocurrency news out of South Korea.
“…we know of no melt-up that had legs of more than a few months after the point that irrational exuberance went full retard, as is happening at this very moment.”
As this year melts into next, we thought we’d revisit five key problems the country faces for readers who have a keen interest in the extent to which America, while not the barren, bone-strewn wasteland imagined in Donald Trump’s inauguration speech, does have a set of rather serious issues it needs to address in 2018.
On Thursday evening, Donald Trump issued a challenge to one of his political rivals on Twitter.
That wouldn’t be news in and of itself since he does it all the time, but this particular Quixotic endeavor was noteworthy because the windmill at which he is tilting isn’t a human being.
“LAPD Sgt. R. Briggs described the contents of the package to be horse feces.”
“Litecoin has been very good for me financially.”
“These are the things that fund managers are expected to discuss, and they are often the right things to discuss. But if you have no justifiable idea whether the process itself should or will lead to outperformance, what the hell are you actually measuring?”
“He pours the gasoline of sexist language and lights the match gleefully knowing how it will burst into flame in a country reeling from the #MeToo moment.”  Â
One small step…
There’s trouble in market paradise.
Uncertain outcomes…
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