Thursday, December 15, 2011

Eurocrats should go to specsavers

broken © fintag

News comments:
Bluecrest have confirmed our analysis.

Platt of Bluecrest fame has said he is short of ALL European banks because they do not mark to market like most hedge funds, and are ALL insolvent. So if you know anybody receiving a bonus from a bank this Christmas, let them know that their employer is insolvent and it is likely the bonus will be clawed back. Mind you if its options and stock it is probably worthless anyway. (bloomberg)

Real Estate and toxic illiquid stuff mostly. As we reported last month we don't understand why the top 10 rated banks are all European (fintag).

Funniest of all is France demanding the UK is downgraded before it is downgraded. This is wrong. The UK has intellectual property (we invent pretty much everything) and real estate in London is worth more than the whole of France. (businessweek). The UK has its own currency and can set its own tax and spend policies unlike France which has to ask permission from some eurocrats in Belgium. Without the common agricultural policy France would be Greece with better wine.

I hear the UK government is going to concrete up the Channel Tunnel and tax French Banks in London.

But enough of this vitriol.

I have a lot of money riding on the collapse of the Euro. However, I need to be more specific by what I mean in collapse so I will report back. You know me - I hate being wrong.

Today's shorts:
Google wallet.

Today's longs:

Hedge funds preparing to bail out Greece.


Anonymous said...

Contra says....

Hedgies to go tits up, Greeks to save the Euro