Hi Andrew, <<3>> ... maybe, but first ...
I had lunch with a fair-sized hedge fund manager visiting from LA, and I quote him (excuse the language please):
(a) I sold my hovel and am renting a shack
(b) The market will always fcuk the most number of people
(c) I got into the non-USD trade (60% of portfolio) when Warren Buffett said "go"; Warren was ignore by most until December, when everyone and their dog was talking about how the USD will keep crashing; so I covered my non-USD trade in January
(d) The market fcuked the shorts last year, then stuffed the bond holders, and now the market will stiff the junk holders, and screw the USD shorts, and then the market will again fcuk the USD holders
(e) Everyone says this year will be OK for stocks because it's an election year; I say bullsheet, the market will fcuk the longs, because if everyone knows 2005 might be dicey, why would they wait for November 2004 to sell
(f) What will trigger the killing? I don't know, maybe the onset of realization that inflation is for real
(g) The folks who believe oil will head for 20 will get fcuked too
(h) I just know there is something out there we do not know, and it will fcuk us
(i) J6P needs 200 grand pre-tax just to live like a human being, and he will get fcuked, and he won't have a house to eat any more
I find it difficult to argue with his brutal logic, except most J6P is not making 200 grand pre-tax :0)
Cuhgs, Jay |
