Monday, December 21, 2015
More fruitiness: Elliott Wave
Elliott Wave International - ooh look at that bank index shart! Where they give us this bank index shart and ask us to look at it:
And y'know what? Maybe the reason the bank index is still below the 2007 high is because banks like BofA had to dilute like fuck in 2009 to stay solvent. Plus the whole "hard to earn a profit lending at 0% real rates when the housing market is a shadow of its 2007 self" bit.
And I'm not surprised the global hedge fund index has underperformed the S&P 500: 90% of these clowns underperform the S&P 500, and then they even take their 2% & 20% vig from that. I'm only amazed that the clowns have only turned in a 20% return since the 2009 low, y'know, with the whole S&P up 200% thing. But I guess when you're a kleptocrat you don't care how much you suck as long as you can keep snorting hookers off cocaine's ass, and fuck CalPERS and the Harvard endowment for being dumb enough to invest with you instead of buying SPY.
And I guess if you're a clueless fucking moron you can read this Elliott Wave blather and find it clever and interesting and insightful.
So I breathlessly await this "C wave down".
Not not really I don't.