Friday, September 11, 2009
Remember all that money that went away with the bear? That went to money heaven?
It looks like money heaven had a change of heart!
It's raining down!
Look at gold. They couldn't even hold that at $1000. That's money heaven!
Look at the S&P. If it's going to 1120 at year end, as I advertised, who would sell now? Supposedly, 1000 was going to contain this beast. Are you kidding? Wall Street has already lost control of this market!
Who is going to short stocks? And knock them down? The neutered bears? Do they really have any balls left?
How about David Rosenberg? With his crystal balls? Is he really going to move us down, with another bearish screed?
How about Zero Hedge? Isn't that now really Zero Edge? Just like Roubini?
What those bearish don't realize is that in this economy, no-one wants to lose their job. Especially portfolio managers that have performance anxiety!
If these money managers had a pill to rid themselves of their poor performance, you couldn't even buy it off the shelves.
They would be like PIMCO's El-Erian, who told his wife to drain the ATM's of all the cash they can get.
Would it be any different with these shysters on Wall Street that could pop a pill?
All dressed up in their suits, with their Ivy degrees?
And speaking of that neck of the woods, how's Harvard's endowment doing? Wasn't it down 30% the last year? How about Yale's endowment? Aren't they down 30% also.
So I guess, they're performing in line with their peers!!
Doesn't any of this gas, espoused by these shills ever get anyone at least a bit nauseous?
Let's look at politics. Why is it that the "best and the brightest" in the Obama administration, get taken to task by those on the right, and rightly so.
Is it only in politics that folks are challenged?
Why doesn't anyone call out anyone in the clubby old boys network of Wall Street?
Don't we do that in sports?
So why not on Wall Street?
Why are these folks the paragon of virtue, that cannot be touched?
Of course, if you do that, you'll be ostracized on Wall Street. Which is why no-one does it. Because Wall Street is a revolving door.
It's not if you're right or wrong, but if you can stay in the game.
Because staying in the game gets you paid.
So what's going to happen to all that sideline money, all those underinvested bears, and all those underperforming the market?
They can't buy a pill.
So they'll buy what they can.
And they'll be as greedy as PIMCO's El-Erian, when he panicked after Lehman. When he tried to grab all the cash available in all the ATM's. When the intellectuals panicked.
When Markets Collide?
That's not the collision that's happening next. It's when the brute force of the market smashes those masquerading as the intellectually rigorous!
So think about that next time you want to get short.
And then, think about all those highly educated Ivy League portfolio managers who are sweating their job and their position because they missed this rally.
Have you ever seen pigs feeding at a trough?
You did already. It was the bankers who got fed at the TARP. They learned how to coddle the Government, but they didn't learn how to master the markets!
Now just put a different suit on them, and another diploma on the barn, but this time, put a shortage of food in the trough, and that, my friends, is the scene that happens next on the street!
Because the dignified, intellectuals, are soon going to lose their cool. When the pigs buy!
And its time to get front row tickets.
Because, just like in sports, the Ivy League is no match for Florida!
Posted by Palmoni at 10:33 AM