Well, I think we’ve all stumbled upon a way to reduce the wealth gap that even Bernie Sanders himself couldn’t beat: just destroy it! In a matter of days, a full $2 trillion of equity value has just…………disappeared. The bottom 95% haven’t felt a thing.
Even I, the most bearish of permabears, didn’t see this coming. Not even close. But one chap did, however. He’s someone I’ve admired and respected for years, and someone I consider a friend: he is Attila. Back on February 11th, he said this:
I’m pointing it out on this chart of the ES:
He tends to be a little oblique, so it wasn’t clear if he was actually doing anything about it, particularly with a gap that was light years away, so someone asked him straight up:
A single day passed, and the ES went up a little, and of course someone had to piss and moan about it:
I suspect you’ve heard what happened. Absolutely mind-blowing.
Even though he called the fall (with jaw-dropping precision), he didn’t foretell his speed. Here, again, from the 11th of February:
As you all know, I’ve been beating myself up pretty much non-stop for not squeezing every drop out of this huge lemon we’ve been handed. I don’t feel so alone, however. On the 24th, my man Attila wrote:
And the next day:
So I don’t know how much he made – – – millions and millions, perhaps – – but he captured only about half of the move he predicted. Still, this was an Oscar-winning prediction. I am humbled by this guy’s talent, and I am perversely grateful that I am not the only one who left money on the table!