I’ve been peeing on Pier One on this blog for years, because my view is that it’s simply aping its collapse back in 2007/2008. So far, so good. Firm support is at $0, and until then, scented candles,throw pillows,and other useless bric-a-brac await. How many bamboo back scratchers does the world really need, anyway?
On a percentage basis, this is my second-best performing short (second only to EZPW). I’m just crazy about this analog. I can see much, much lower prices ahead.
I have endlessly touted the virtues of shorting Pier One, the seller of scented candles, bongo drums, and other knick-knacks from around the world that, let’s face it, no household really needs. This short is really starting to kick into gear.
Sigh. I’m feeling sentimental, so I thought I’d put up some bear porn and share the first ten minutes of the Nightly Business Report from October 19, 1987. A similar drop today would be about 4,000 points off the Dow in a single session. These days, a 1% drop in the market causes the government […]