I was originally going to title this post “Jackie DeAngelis Must Die”, but I thought she might take it the wrong way.
Anyway, earlier this week, Ms. DeAngelis “interviewed” famed short-seller Bill Fleckenstein on (gack, choke) CNBC, every permabull’s favorite network. Right out of the gate, she attacked him:
You can watch the interview at the bottom of this page if you want, but I can save you the time by simply stating Mr. Fleckenstein was ambushed by a trio of CNBC permabulls, deriding him for missing out on the past five years of market rally. (more…)
One of the rounded tops that has been oh-so-slow to break down has been Pier One, but today got things cooking. I have no earthly idea what compelled people to bid this thing up over 21,000% – – yes, twenty-one-thousand percent – – from the 2009 bottom to the recent peak, but it’s starting to unravel:
When I was in college, one of my favorite courses was a history of the 1960s in America. A prominent illustration in one of the books was from The Realist which featured The Disneyland Memorial Orgy (that was later beautifully colored). You can click on the image below to see the big version, which features the Disney characters at the time defecating, using drugs, urinating, practicing exhibitionism, and engaging in various and sundry manner of coitus. Disney, of course, is a hundred times bigger (and a hundred times worse) today, so the take-down is all the more appropriate.
When HerbaLife was back in the 80s, I was dying to short it, but there wasn’t a share to be had, so I forgot the idea. I glanced at HLF today and see that it has steadily and quietly lost about 50% of its value. I personally want Ackman to win this one against
Emperor Palpatine Icahn, even though I have no position. Plus, intuitively, the company strikes me as slimy.