Equity bulls aren’t exactly the most hearty, masculine folks on the planet. Let’s face it, for eight years now, every time there’s been the tiniest downtick, these antique-shopping, hair-dressing wimps shriek out for aid from whatever central banker is, shall we say, chosen. Getting wet-nursed nonstop can cause some pretty heavy conditioning. There is, it is widely accepted, no longer such thing as a bear market.
After yesterday’s selloff – – one DAY, mind you – – this dink shows up on CNBC:
Weeks and weeks of “progress” from our bullish friends destroyed within hours. I’m becoming a bigger fan of Trump every day. Make Shorting Great Again.
Just for a bit of perspective…………
“Short Now And Profit“ – a sneering takedown of SNAP’s IPO, stating, and I quote, “everything – – everything!! – – about this company screams “ridiculous overvalued bubble”, including, but not limited to, Evan Spiegel’s smug little cleft-chinned face on every magazine cover” and I conclude “Next stop: the teens.”
“Snap, Crackle, and Proof” – a much kinder, gentler examination of the Snap organization, about which I speculate “probably owns the world’s largest collection of child pornography”
Highly-paid Wall Street analysts, however, had a different take on this, umm, “investment”, as expressed by their buy/sell/hold recommendations on SNAP:
So, yeah – – 30 of them with a “Buy” or “Hold” and 4………count ’em, 4………with a “Sell”.
Let’s see at the close of trading today whose opinion was right.
……or you could just hang out on a free blog site with me, who actually cares about you and doesn’t wear gross neckties.
Last week, my teenaged son asked me a sincere question: “How come Marissa Mayer got $200 million by screwing up Yahoo?”
It was a good question, and one I had trouble answering at first, because I’d like him to think that there’s some level of fairness, meritocracy, and sensibility to this world of ours. In Mayer’s case, however, there is none. Her entire massive fortune is due to being in the right place, at the right time, on multiple occasions. She is no more clever or shrewd than someone who won the mega-jackpot lottery. (more…)
Well, the utterly-retarded ascendency of semiconductor stocks has come to an end at last. AMD has lost nearly one-fifth of its entire market cap within a span of minutes, and five months of price gains have been laid waste. My kinda market.
Here’s a special post for any Californians out there who wonder where their tax dollars are going. Some of you may have heard about this freak, who was convicted of vicious, murderous crimes and yet successfully demanded the state provide him expensive gender reassignment surgery, otherwise he might kill himself from depression.
So, in a sensible world, a razor blade would have been quietly provided and the officials could wait until their ongoing expense had addressed itself. Instead, the state fell all over itself to get the surgery that this weirdo so obviously deserved. Of course, the description of this person’s crimes depends on the source. If you read a heavily left-leaning publication, you get this: (more…)