Monday, February 10, 2014
Here's news, with added swearing cos some cunt gave me the fucking flu and nobody at home is letting me fucking sleep:
Bespoke - earnings and revenue beat rates remain strong. This is despite what the zerohedgers want you to believe. Just buy the fucking Nasdaq and fuck off for 10 years.
Calculated Risk - reasons for a 2014 pickup in economic growth remain intact. Just buy the fucking Nasdaq and fuck off for 10 years.
Bloomberg Radio - Michael Shaoul mp3 interview. On the five crashes we've had since 2009 and how they were all buying opportunities.
Reformed Borker (Bork Bork Bork!) - funds don't follow value, they value performance. How the market really works. That's why you don't buy shit that's going down no matter how much of a value it is.
Ritholtz - ideology is killing your investment returns. Read this. Especially if you're a purported "analyst" with a "newsletter". If you want your newsletter to propagandize for Rand Paul, make it a political newsletter; if you want to write a gold stock newsletter, quit listening to all the idiotic fucking ideology that's being spewed your way. Simple hint: if you can hear it from ZeroHedge or Max Keiser or Alex Jones on Rand Paul or Doug Casey, then it is wrong and you should have been ignoring it all this time and if you haven't been then do yourself a fucking favour and start ignoring it now.
Bloomberg - what if Germany is booming and nobody is noticing? It's actually bad for the ECZ, because you want Spain and Italy to boom - not Germany. Germany booming will just re-create the structural problem they spent the past five years "correcting" by starving swarthy latins to death.
Reformed Borker (Bork Bork Bork!) - EM bullishness. Read his previous article above, then ask why the fuck you should buy shit that's still going down. Goldbugs (should have) learned that you don't buy value, you buy the inflow after the bottom: this is because you have no fucking clue where the bottom is. So people buying EMs right now are fucking morons who are not only ignoring the fundamentals (the start of a secular EM bear/DM bull) but also the chart (it's fucking going down).
FT beyond brics - dealing with 500M tonnes of steel overcapacity. This is what causes an EM secular bear/DM Secular bull: a mess of cheap capital in the EMs builds massive oversupply, which provides DMs with cheaper materials right as EMs see their own demand for raw materials collapse as cost of credit skyrockets. If you don't see the writing on the wall for EMs by now, frankly you're a fucking tool.
Chronicles of Brodrick - is the gold bull back? Should be, maybe. Though gold demand being supported by EMs is a bit of a problem, I think. Still, I doubt EMs should crash - just go through a long slow ten-year bear market. So $1400 gold by December should be quite plausible. And it should be a good year for the half-dozen good junior miners, since their prices got puked down below sillycheap to stupidcheap over the past two years.