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Thanks for posting this. I was laughing the entire time while watching this morning.
If I was one of his investors I'd take my profits and withdraw every dollar I had invested with him today.
Wow - it doesn't get much more disrespectful than that.........
Call him childish, but that child made over a billion last year
with analytical ability like his how do you suppose he made $1B last year? Little kleptocratic boys' club?
Mr Madoff also made loads of money before he went behind bars.
one down, 1500 to go.
The problem with so many readers on this site is that they are so self involved and absorbed that can't see the fact they just missed out on a bull run up in stocks (secular, cyclical, or completely make believe, who cares). In my comment I never mentioned anything about the structural macro structure of the global economy, or anything of that matter.
Again, you may knock his analytical thinking, however did your superior market analysis yield near 100% returns last year. If so, good for you, if not, then stop whining and saying everyone else is wrong when clearly you have been proven wrong. The stock market is the ultimate meritocracy, zero sum, you win or lose, that's it. It doesn't matter how intellectually sound your reasoning is, as long as you have consistent risk adjusted returns, then you win.
Piece of advice, everyone has to stop whining and start seeing past their own biases.
My comment has nothing to do with your analytical abilities which I am certain are superior to mine. It has to do with whether or not a number of criminal schemes have been revealed and whether they continue in this so called free market system. Your or anyone else's ability to make money in it are irrelevant to that. I apologize for being absorbed or self absorbed with that issue. Last time I checked, a number of people share this concern
From the Fed's printing press to Tepper's pocket, you bet! Dilute a piece of every US Dollar in existence, and line the pockets of these fucks. Why not?
Klepper will be right until he is wrong at which time he will say that he can not possibly be held personally responsible for such a far reaching cumulative meltdown. He has his Billion and will keep his Billion while using OPM until the cows come home. That is why he is so bubbly happy VERKLEMPT!
+1 forgetalpha. How did your factual message get junked x2?
The name of the game is making $ not being right. Or said another way, if you are making $ you are right.
Exactly!! He didn't get bailed out. He just had the gall to go long all financials when everyone was shit scared.
Going forward from here,
you may find that stocks of companies which have large assets in the ground,
such as Suncor, Consol Energy, and Cameco,
will do as well or better than even gold mines ...
He's basically right. The stock market has just become a vehicle to further enrich the rich. It's nothing more than a mechanism to do so now.
Yep - the oligarchs buy up a couple more islands while the rest of us get shot rioting in bread lines.
All so a bunch of banksters and fraudsters (but I repeat myself) don't have to take a haircut on their bad bets.
Haines just had a young man on who says that, "the market isn't the econonomy." He's trading the market.
Tepper is banking on Scotty to beam him and stocks up.
Who needs an economy anyway. If the Fed can print up the market we can get rich to infinity without any economy.
Indeed! Here is a picture of a billionaire in Africa, a beneficiary of the visionary Keynesian monetary leadership:
+1000 We needed that.
At least he can smile.
He stole the sign from someone else after stabbing him in the neck with a piece of broken glass. Same thing happening here but with more subtle weapons.
Tyler is spot on: "we are now in a new regime, where gold benefits more than stocks on further currency devaluation. Period."
One caveat though: shares of gold/silver mining companies will also benefit from central bank currency raping. So you paperbugs who sneer at gold as an investment, go for gold stocks instead.
gold basically can only go up unless bernanke wants to hike interest rates and bankrupt us all over night.
raise interest rates would bankrupt the government.
Yup, and what are the chances of that? 1%.
What are the chances Benny will keep monetizing CONgress's debt? 99%.
Place your bets on the table, please....
Astute observation. +++ If the Fed holds down rates, lets dollar continue to sink, gold will continue to go up in dollars.
The Fed is between a rock and a hard place now...and we saw this coming long ago.
Will they do another large QE and totally wreck the dollar?
caught between a pyramid scheme and a hard place and we're the slaves who have to push it. Hey Moses, can you cut this cord before it crushes me?
Funny you should say that. Just got into to three gold miners yesterday and another one today.
So you paperbugs who sneer at gold as an investment, go for gold stocks instead.
So you paperbugs who sneer at gold as an investment, go for gold stocks instead.
If you'd rather not take the time to research individual stocks, Sprott Precious Mineral Fund is as good as it gets IMHO... 1 year return is 69% (typically 2 to 3 times bullion).
Way too many guys fightng the tape.
So many "pros" are short big and getting killed.
I'm just following the bouncing ball, it's not that complicated.
So far, everything has been holding above the 20-day after Investor's Business Daily noted the "follow through day" off the recent low.
You've copped some flack lately Robo, but essentially, you have been correct. Keep the girls coming though, it's been a drought from you lately in this respect.....
On this site you will always draw flack. It's infested with moronic trolls now.
Robo kills it. Thanks for your analysis and entertainment.
if you're long treasuries you might want to call the "soothsayer." god forbid if a war breaks out in the Middle East during a "peace process."
Their not fighting the tape. They are block trading out.
Robo junked x 7 for having the intelligence to follow trends and profit.
He is junked for arrogance and ego self-massage, not being right. People love a winner, but they hate those who flaunt it. Lack of modesty and humility will get ya junked anywhere, and in life in general. (I did not junk him... don't care enough.)
Hey, this man is indeed in good position to take home a nice slice of QE pie. You want him not to be happy about it? You thought he had some shame?
I don't think anyone is faulting him for making money.
It's just amusing to watch such a wealthy man have a seemingly lack of fundamental understanding for the underlying monetary picture.
But as I have been saying, when you have men in their 40s-70s who only have known Keynesianism their whole lives, since that is what made them and their friends rich, it's not difficult to see why they fail to grasp the bigger picture.
Hubris can be a bitch though.
Trust me I know exactly what you mean. But that's not what I sense from this guy. "You've got to love a put, especially when it's issued by the Federal Government." In other words, when they're giving away money, he'll take it. He's not saying QE is good for anybody but himself.
09-24 07:42: US House Ways and Means chairman Levin says China's 'persistent' currency manipulation significantly distorts trade. Japan, Switzerland, and the USA, well now THAT is different.
I'm so sick of this line of reasoning. There's x amount of gold on the planet. If the US really wants the east to stop pretending it's poor all they have to do is stop pretending they are rich.
This is a complaint about how they won't lie to nth degree about thier gold holdings and print convertibility ratios that are nonsense. It's all it is. It's all it ever will be.
Everything, in the near term though not bonds.
The guy is so stupid that he doesn't even know how QE works. I turned off the television after that.
so if Tepper is "so stupid", and you're not, how come Tepper is worth $6 billion and your worth the present value of a stream of social security payments?
you should have the billionaire kleptocrats line up so you can give them all BJs.
>>...how come Tepper is worth $6 billion and your [sic] worth the present value of a stream of social security payments?<<
Dude, that is the funniest line ever!
Poor guy. Have you been stuck in a German Comedian school most of your life?
So, the more money you have the smarter you are??? Are you fu$%ing kidding me? ...when do idiots like you wake up to realize they are being fleeced left and right ... unless, maybe, you're one of the fleecers
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