Thursday, November 11, 2010

How About Doing the Opposite.

Did you happen to catch the disinformation network CNBC Monday morning, Former Michigan Gov. John Engler was guest hositing. Engler was not the story. The real story was Bill Issac. Long time readers know I am no fan of former FDIC chair Bill 'mark to market accounting is the culprit' Isaac as I have railed about him previously back in 2008

Well it seems Mr. Isaac,  will not go away. He has emerged as the board chairman of Fifth Third Bank. (ya think that puppy might a be a short now?!)

Anyway, Isaac was back on the propaganda outlet as yet another celebrated pundit who couldn't see shit coming yet still spouting his brand of horse shit. You can view the video clip here.  I heard him say how letting Lehman fail was a colossal mistake. Shills like Isaac can repeat this lie over and over again it still doesn't make it true. THE ONLY THING OUR ALL-KNOWING LEADERS DID RIGHT WAS LET LEHMAN FAIL !

I can assure you with absolute 100% certainty than until the likes of Bill Isaac and his ilk are purged from positions of authority and influence our financial system doesn't stand a chance. I sincerely mean this. I fail to grasp why is this concept so hard to comprehend for people?

Hey everybody,  how about some fresh blood with some sober, sane, fresh ideas. Hey, how about doing the exact opposite of all these supposed pundit's (like Isaac) recommendations? 

I also recognize full that Bill Isaac is probably a great guy to golf with or share stories and jokes with over a few cocktails and has lots of buddies in high places as accounted for by his former plum appointment as FDIC chair but as for steering our financial state of ship or offering even the slightest navigational advice I would politely laugh in his face and send him to the galley where his skill set might be better utilized.

When you watch the CNBC video note Andrew Sorkin's line "I don't think anyone disagrees with you letting Lehman fail was a mistake" Sure Sorkin, tow the line like a parrot hencing keeping your bread buttered. It goes a long way to explaining why your book Too Big To Fail is much more useful as kindling than as reading material. Pathetic the whole lot of ya'.

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 U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ 7.84
Long 1 unit Barclays 20yr Treas Bond ticker TLT @ $96.37 stop $94.94

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