Hello Bulls, Welcome back again to our den.
Message 14670580
<<I like the fact that you are bearish. The more the better>>
We like it too, and sleep better while liking it. Before the clarion call to retreat, you will like it a lot more.
<<But do you realize there is 2+ trillion dollars in money markets? It is at historic highs.>>
We do, and also note 2+ trillion got vaporized faster than it was created, and so what's another 2+ trillion, cheap at the ultimately intended FED discount rate, if one can get hold of it for the market support program.
<<Not enough cash on the sidelines is not the problem IMO>>
It certainly is not the solution either.
<<Have a great day>>
The weather in Money Rock HK today is simply majestic (trust the same is true of Silicon Valley, now that Nasdaq fought off another attack by the forces of doom and chaos); the morning fog is just clearing, the thermals supporting several hawks circling outside, and the temperature is tuned by all that is good for the express purpose of a brisk morning jog along the Chung Hom Kok beach path. Not all is well for all. There are several unidentified birds perched amongst the trees below, huddled, and cowering. Cannot say for certain what is making them uptight.
Anyway, I went jogging, passing the dogs and baby carriages, briskly, of course, the perspiration on my creole chinese skin a beautiful sheen, alternatively speeding up when confronted with 19-year old neighborhood temptresses and slowing down when alone. Now, back in the den, pumped on Cuban bear taunt – “cha cha cha” by Rico Vacilon, and cooled by Snapple Lemon Tea.
Next CD in the changer is by Shania Twain. Some good tunes on that one too - “That Don’t Impress Me Much”, “Black Eyes, Blue Tears”, “Whatever you Do, Don’t”, “Don’t be Stupid”, “Rock this Country”, and of course “Come on Over”.
The one after that, by Britney, as in "Oops, I did it again".
I write this note to you with all the good meaning in my heart. You were wrong as many were, taken in by the maestro, and understandably so at the onset of a crisis, when the crowds are most agitated (before numbness set in)and blinded by the facts.
You may be wrong now as well. It is not a given that you are, but just possible.
Some folks belong in the clan that believes (a) need to place their bets before the roulette wheel stops turning and the die stop tumbling, (b) politicians are wise and can keep the wheels turning and die tumbling, and (c) perpetual motion machine does as advertised.
We are not at the bottom now as we were not then, at the time of your previous post, but only closer. We are, in a sentence, getting asymptotically closer to the bottom. Concatenating my mathematical functions (haven't used that word in some time, like seeing an old friend again!), the parabolic rise of the indices will be complete until possibly 5 years of gains are surrendered and the world is twisted back into the proper dimensions the not so gentle way.
“When I was young, people called me a gambler. As the scale of my operations increased I became know as a speculator. Now I am called a banker. But I have been doing the same thing all the time.” Sir Ernest Cassell, banker to Edward VII, as quoted from “Devil takes the Hindmost – a history of financial speculation” by Edward Chancellor.
I beseech you to read the illuminating tome at this hour of darkness and not make an unintended mistake. Make the mistake because you believe. Not because you did not bother to read the script. I myself do not want to be asked of this question in the future “daddy, did you really believe to the extent of not hedging at all?”
I write the way I write, all for fun. Should you feel uncomfortable about what you read, ask yourself “why?”. Seek the reason, and act accordingly … put me on ignore.
Alternatively, hedge your bet, or bet only when the wheels stopped turning and die stopped tumbling. The odds are better that way.
As always, chugs (and cha cha cha), Jay |
