The payback party has caught most people off guard. Tonight, even Citibank $c has joined the party . I have run a hedge fund since 1998 so NOTHING surprises me anymore. I have long titled this rally/upside crash ‘The Inconceivable Rally .’
It was fun calling for the end of the world and it was definitely trendy. The problem for the bears is they are insane. You can definitely predict the demise of a company, industry, even country, but the world…?
I have been pitched countless ideas for stock market games over the years and have always turned them down. There is now a board game at Walmart $wmt and it will fail badly. Tonight’s repayment of Dubai loans by Abu Dhabi of a mere $10 billion reminds me why…The Stock Market ‘IS’ the game.
When I was a kid I watched The Flinstones who lived in Bedrock. I loved Barney and Fred. They wore fur.
Today, there is a city/country underwater in the desert that is broke, whose inhabitants wear sheets. That city received $10 billion tonight. The joke is on the shorts.
The Abu Dhabi, Dubai, Yabba Dabba Doo bottom.
The Flinstones had KAZOO. The US has Greenspan and Bernacke. The world has a coordinated effort to reflate.
Gold has no cash flow, but the tremendous cash flow created by finding it and digging it out of the ground. Gold is at $1100, but likely will look cheap a few years out. I don’t know why. Just a feeling.
If you are not following and honoring price, you better be an insider, have deep pockets, a high tolerance for pain or lazy investors.
We should see green martians soon. They may just ring the opening bell at The Nasdaq.
PS – Greenspan definitely has his hand on Cramer’s thigh and congrats to Jack Damn for my fave headline ‘The Hairless Recovery’
PSS – I really WAS stuck in an elevator.