I confess that yesterday's not-too-surprising announcement from Dubai that everything would be juuuuuuuuust fine had me a bit concerned, but it looks like the damage is here to stay. In particular, I am still madly in love with small-cap shorts. Even as most indexes and commodities are thrusting slightly higher, the small-caps have been reliably weaker. I have doubled my position in SDD, the ultra-bearish small-cap ETF. Below is the IJR, which nicely illustrates the set-up for small caps on the short side.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Required Reading
I enjoy non-fiction quite a bit, and the latest tome I'm going through is Sorkin's Too Big to Fail, which is a nearly 600-page book about the summer and autumn of 2008. Since most of us here lived through that time (some of us, tick-by-tick), it's absolutely engrossing. I'm only about 60% of the way through the book, but I'm really enjoying it.
Back in the Saddle
I'm back in my beloved Palo Alto and ready for a new week (without holiday interruption!)
Dubai's pledge to pour in however many tens of billions of dollars are required to shore things up has had a rather temporary effect. The /ES is up precisely zero points as I am typing this, having been up more than seven earlier. And, as I grab a bite of breakfast, I shall share with you an amusing notion that popped into my head this morning from an Accenture advertisement I remember seeing………..