Friday, January 25, 2013

Fun, No Fun, No Future

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News comments:
What an exciting start to 2013.

As predicted (fintag), Apple is going the way of Microsoft (fun, no fun, no future) and us shorties are having a rallying time (ft). With even the ludicrous Bank of America saying bonds are overbought (told you so), yield curves are twitching with rates poised to move on up, all this news and excitement is just what the doctor ordered.

The even more ludicrous ECB which like the FED has caused no end of printing problems (told you so) ignoring the signs that all is not well in EU (the Spanish have taken over London and the East Europeans are no longer required), human tradegy and lost futures are irrelevant when it comes to keeping bankers happy. The currency battles (reuters) are making this a great year of volatility.

Take the UK (bbc). It has no plan A. It has no plan at all. The first plan was to cut the deficit and unlike Ireland, the UK has cut in all the wrong places and debt is still rising. Taxes up and down, railways no one wants, airports in the wrong places that no one wants, an armed services that no one wants, a bloated and irrelevant NHS that only tourists seem to enjoy, and today its in a triple dip. Of course the useless ONS will probably report adjustments figures next week (fintag 2011) which is why GBP has hardly twitched. Exciting times indeed.

We have Goldman doing what it does best (says one thing and does another) with Spanish buy signals (bloomberg) and old business models at last starting to fall apart (from HMV to the FT.)

All this confusion is just what we all need to kick start some excellent alpha and pay for some decent lunches in 2013.

Today's shorts:
Davos snow (bloomberg)

Today's longs:
Hamptons (zerohedge)

Apple to launch new phone that isn't a phone (yawn).


Anonymous said...

Yikes. I was cleaning my old bookmarks and revisited your site again.. must have been 4yrs since my last visit.
How tedious you have become...Crasher Fintag...

So long sucker

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