Global Macro Trading Journal

Microsoft sale looking better and better after Sinofsky forced out. Stock is a sale until Ballmer goes (or changes radically).

 

Buying a few mREIT preferreds this morning. I agree with and prepared for the sell-off in the common, but it spread to the pfd yesterday, which is laughable. Efficient markets?

 

If the BOJ adopts a 3% inflation target or 3% NGDP target that Nikkei will be a nice buy, specially if they adopt the later. I don't think there is any need to anticipate, it will take markets quite a while to understand the long-term implications of that in my view

 

the world has gone so far under, it doesnt fear inflation anymore.

 

BOC chief goes to BOE. This is just bizarre

 

http://www.eurozone.europa.eu/media/854890/eurogroup_statement_greece_27_november_2012.pdf

Official sector involvement increasing. ECB likely to get hosed in their Greek bonds before all of this ends

 

“We didn’t discuss a debt cut,” Schaeuble said after the meeting. “It’s out of the question.”
Yet they cut rates, extended maturies, etc
Guess he never took bond investing 101

 

Missed this last FB rally but my thesis was dead right. Odds favored long big time due overbearishness of investors, analysts and shorts. Plus company is liquid in the balance sheet so there is no bk to bail out bad short sellers