Tuesday, August 17, 2010

Kyle Bass Interview on CNBC

By pure luck I happened to catch Kyle Bass on CNBC today. For those out of the loop Kyle was spot on with his housing market implosion call. He made few friends with his outstanding call which is to be expected on Wall St. because there you are either bullish or you are persona non grata. Kyle is a big picture, clear thinker as this video most definitely illustrates.

I have attempted to download the video and have been unsuccessful so I have enclosed the appropriate links below which if you click will take your directly to the videos.

While watching please try ignore the self aggrandizing lightweight host in the video. Readers know my thoughts on the self proclaimed "brain" and after watching the video you will surely know that the words Faber and brain are truly an oxy moron.

But don't take my word for it, watch the short videos below then tell me who is the brain, (hint... it's the guy on the far right) and who resembles the scarecrow from the Wizard of Oz.
This is a top ten video of the year for sure.

Kyle Bass on CNBC Part 1

Kyle Bass on CNBC Part 2

Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $22.52
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $92.15
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 93.48 stop @ $93.48
Short 1 unit Apple ticker AAPL @ $275.20 stop @ $266.50


Anonymous said...

Uh, aren't Japan's debts in yen? This tax/revenue think is a red herring. Taxes are necessary to control inflation and for political purposes. Not necessary for revenue for a sovereign nation with a modern monetary system.

Harleydog said...


I really don't know how to respond to your comment except to strongly recommend Henry Hazlitt's 'Economics in One Lesson' to you.

thx for reading and taking time to chime in, much appreciated.


Matt P. said...

Thank you for thanking me. ;-)

Hmm...how about you try something written after the gold standard ended. Something relevant.


Deadly Innocent Fraud #1:
The federal government must raise funds through taxation or borrowing in order to spend. In other words, government spending is limited by its ability to tax or borrow.

Federal government spending is in no case operationally constrained by revenues, meaning that there is no “solvency risk.” In other words,
the federal government can always make any and all payments in its own currency, no matter how large
the deficit is, or how few taxes it collects.

Harleydog said...

Matt. P

unfortuately I am familiar with Mr. Mosler and his work.

As for something relevant post the gold standard, Mosler is yet another in a long line of Keynsian economic meddlers and monetary make-believers who simply don't get it.

Mosler, Krugman and their ilk, who believe in wealth via the printing press or whatever they declare is wealth ARE the reason we are in the pickle we are in. NOT listening to cats like them is exactly what we should do.

"gov't spending not operationally contrained by revenues"

after I finally stopped howling I realized an appropriate response might be 'and this earth is flat too! right?'

Based on his logic, no gov't in history would have ever defaulted on its debt.

Question: Was Mosler advising most of Latin and Central America the past few decades?

As for relevancy Mosler and the other money fairy Keynsians continue to smoke something I refuse to touch. I see Mr. Mosler is running for the senate. Sadly he'll fit right in there.


Harleydog said...

Matt P.,

to quote Richard Russell "a hard rain is coming" unfortunately everyone is looking for a way to avoid and mitigate the damage. Unfortunately the meddling and tinkering only servers to make things worse and more drawn out.

We have pulled demand forward with gimmicks and tricks and not are all angry and frustrated the economy is slowing? Are you kidding.

Piper is here and has to be paid and no matter how hard the "enlightened" likes of a Krugman or a Mosler tell us we can stave off its effects they are full of it.

The math never lies no matter how hard they tell you it doesn't or show you graphs claiming it won't.

Again thx for reading my blog, taking time to throw it back to me. Good trading and much success to you Matt.


Matt P. said...

Ah quoting Russell. Touche. Have been reading him on and off since 1980 or so. You know, back when Reagan was supposedly bankrupting our nation with debt. Never seems to happen...

I promise you that if we were having this discussion 2 years ago you would have been betting hard on inflation. Still missing...

I think it is a mistake to lump all Keynsians together. Mosler fits much better with a Republican/conservative line of thought because he isn't much into government planned stimulus. He wants a payroll tax holiday. Bottom up stimulus.