Wednesday, May 25, 2011

Royalty

There are days when I start to write a post and I simply stop then say to myself, "why bother?"
Isn't it all self explanatory? For the most recent example of the self-explanatoriness and further the extreme vitalness of Wall St. to the survival of our economy one need look no further than the Linked In IPO. (LNKD). Too funny, or is the dozen or so in the cue on deck waiting that is even more hysterical.


I came across an interesting piece (hat tip to the Jr. Deputy Bean Counter!) regarding former IMF chief economy wrecker Dominic Strauss-Kahn. For those more familiar with American Idol and Jersey Shore than the IMF no organization, save possibly the World Bank has inflicted more socio-economic devastation across the globe. Devalue the currency, raise taxes, rinse repeat. Now back to Mr. Strauss-Kahn, You can read the fine print of his contract at the IMF website here. It appears that in addition to his $500k salary and bonus, this professional trough suckler is entitled to approximately a $250k severance package.

Remember the chart below?


You should. Now in spite of the fact that:
  • I am no Ivy league MBA,
  • I am not smart enough to design and structure worthless derivatives based on even more worthless mortgages,
  • and I am not capable of selling any female relatives into sex slavery for a bonus, commission or deal
even this simpleton can figure out who is footing the bill for this maggots posh retirement fit for royalty.

Speaking of royalty I caught a couple of snippets of the interview CNBC had with prince Alwaleed of Saudi Arabia last week. The prince seems nice enough but I have one question for the prince and the CNBC crew of intellectuals. Is it really his money? You know that 19 odd billion that, Carl likes tossing around referring to as he licks the princes boots.

His net worth is supposed to make me bow down and blindly accept his astuteness? Did he get in on the Linked In deal Joe Mr. Kernan? Where did the prince's money come from? Did he earn it or did he inherit it from his dad the King's son?
This money which, correct me if I am wrong is Saudi state property. So isn't he simply the custodian of a sovereign wealth fund? Why are we talking like it is his money. Listen to the interview and hear him talk and you can see how much the prince thinks 'outside the box' The Fed did the right thing. raise the debt ceiling, bail out the banks blah, blah, blah. CNBC has become one giant propaganda sitcom, airing re-runs day after day. Any you wonder why I use the phrase parking lot valet attendant to describe so many of these purported finance professionals. Based on what is happening in Tunisia, Egypt, Syria, and Yemen, I strongly urge the prince to invest in counter revolutionary stocks.


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 @ $96.70
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 @ $98.25
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

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 @ $96.70
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 @ $98.25
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

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