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long generics short mars the next leg

January 25, 2018

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+ 50 % from entry with more fun to come

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average in

in the spirit of full disclosure government folly tends to be priced in after the headline. in this case it was not direct government folly, other than the notion the government should be in the banking business to begin with, but the age-old plan of a customer to co-opt a bank manager to extend credit without collateral or conscience and in this case the co option occurred at the level of the clerk responsible for simple ledger entry ultimately moving over $ 2 billion foir which the clerk is alleged to have made a risk free 2% but to the credit of seasoned actors in the price discovery of native capital markets by the time the headlines hit prices were in search of a bottom not a top in the authors' humble view being on the same side of the trade as the president of the country (the line item owner in the capital structure) is worthy of long-term rewards and aligned with the only management with a proper incentive for the solution further, it appears that th...

in the casino

oil credit

http://www.zerohedge.com/news/2015-12-30/new-cartel-running-oil-sector Hedge Funds. Non Bank entities. Energy Lending Foreign Banks operating in the US ? Just cant imagine the derivatives tied to $ 4 trillion in underlying. Temptation for the big throbbing brains difficult to resist As oil prices wallow near multi-year lows, it’s becoming increasingly clear that the new cartel controlling oil prices is not OPEC but world credit markets . From Saudi Arabia’s record $100 billion deficit to shale oil’s continuing reliance on cheap credit funding, it’s clear that no major oil producer or company in the world right now is economically self-sufficient based on oil revenues alone. This situation has left the flow of oil and the decision on when to stop pumping the increasingly tarnished black gold in the hands of banks rather than oil men. Some big banks have acted preemptively to dispel investor concerns over the size of their loans to banks. ...

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