I'm still holding my full position for now, especially with the trade data that came out this morning. My prediction is the SNB will be relentless at these levels.
Most people do not believe that SNB rumor, but I dare not short EUR/CHF. If I am wrong, there is no chance to S/L such position.
Hatzius seem to be calling for a IOER cut tomorrow(Or 'demanding' according to the resident lunatics). I'm not sure this is going to happen at all. It seems to me that the Twist should be controversial enough, probably drawing 3 dissents. I don't think they cut those rates
Random question: Isn't a breach of Fiduciary duty when Buffett calls for higher capital gains taxes being the CEO of BRK?Couldn't he be sued for that?
Just saw a pretty powerful interview with Chanos on Bloomberg. He's been beating the drum about China for awhile, of course, but he says talk of a collapse of the property bubble and a serious economic slowdown is no longer some sort of theory about the future. He says it's happening right NOW. With everyone focused on Europe, people aren't paying attention to the world's growth engine reversing. I'll add to that the fact that copper has not joined the recent risk rally and (as technicians would say) has crashed through support - now at the lowest level since December. I'm very tempted to triple my AUD short, but will sleep on it for now.
I've been thinking a lot about Faber's article from 1999 where he recommends Bill Gates to buy gold. http://www.forbes.com/global/1999/1115/0223099a.html In retrospect he wasnt the only one to make the call and who knows maybe he was lucky but clearly the suggestion was golden. Now I look at where we are today and wonder what could I buy today and be up +500% in 10 years time just sitting on it. I really can't think of much. What crosses my mind are banks but really who knows how this will end and maybe natural gas which has been the biggest lagger in the commodity sector but here also who knows what the energy picture will look like in 5 to 10 years.
He should have recommended Apple. http://www.google.com//finance?chdn...cmpto=NYSE:GLD&cmptdms=0&q=NASDAQ:AAPL&ntsp=0