BTFATH

Buy The Fucking All Time High

Wall Street Analysts Are Slowly Losing It

"I can’t justify any of this. The lesson investors are getting is that everything is a buying opportunity and you need to not miss the boat. Brexit? Bullish. Trump winning the election? Bullish. Italy saying no to the referendum and the Prime Minister handing in his resignation? Bullish. Heck, all we need is the entire Belgian banking system to go kablooey and the S&P 500 will be at 3,000 by Christmas Eve."

"Finally, A Week Of Buying" - After A Record 18 Weeks Of Selling, The "Smart Money" Is Back

A relentless stream of selling by Bank of America's "smart money" clients stretching for over 4 straight months, or 18 consecutive weeks, is finally over. As BofA's Jill Carey Hall reports, last week, during which the S&P 500 was flat from the prior week, BofAML clients were net buyers of US stocks for the first time in 19 weeks, breaking a record-long selling streak that began in mid-January.

Pepsi Earnings Explained For 17-Year-Old Hedge Fund Managers

Just to help 17-year-old hedge fund managers reconcile the confusion generated by Pepsi's two sets of numbers, the ghastly GAAP ghastly, and the nice non-GAAP, the company continued the tradition of dramatically dumbing down everything that happens in the quarter with yet another admission that it knows very well who its main "investor base" is these days, namely "attention-deficited", 17-year-old hedge fund managers (and algos of course), all of whom need a simple, portable story on which to BTFD (or BTFATH).

8 Reasons Why The Telegraph Thinks The Market Doomsday Clock Is One Minute To Midnight

"Time is now rapidly running out," warns The Telegraph's John Ficenec as the British paper takes a deep dive into the dark realities behind the mainstream media headlines continued faith in central planning. Sounding very "Zero Hedge", Ficenec warns that from China to Brazil, the central banks have lost control and at the same time the global economy is grinding to a halt. It is only a matter of time before stock markets collapse under the weight of their lofty expectations and record valuations.

US Middle Class Stays Dead: Homeownership Drops To 48 Year Low; Median Asking Rent Soars To All Time High

Earlier today, the US Census released its latest homeownership data, which confirmed that for what is left of America's middle class, owning a home has become virtually impossible, with the homeownership rate plunging from the lowest level since 1986, or 63.7%, to just 63.4% the lowest reading since the first quarter of 1967.  And the punchline, which should come as no surprise to anyone: with housing no longer affordable to most, the median monthly asking rent just rose to a record $803 across the US.

"Buy Low, Sell High" - How China's Senior Citizens Are Learning To Trade Stocks

"As Chen projected Homily Stone’s software on a screen and began by reviewing the basics of “buy low, sell high,” the students alternated between scribbling notes and stealing bites of steamed buns and swigs from milk cartons and thermoses of tea... when he guaranteed a 300 percent return for people who buy the program and follow his methods with recommended “dragon head” — or hot — stocks, the room erupted in applause."

We Have Entered The Mania Phase: Market Complacency Has Never Been Higher

More than merely a subjective, psychological state, the complacency of market participants can be effectively quantified, which is precisely what Deutsche Bank's David Bianco has done by looking at the ratio of the market's P/E to implied vol or VIX. As the chart below shows, on a daily basis the PE/VIX ratio just hit 1.49x - it has never been higher, and again based on DB's estimation, market sentiment has now crossed from the complacency zone into outright Mania. The last time this ratio was at the current level: late 2007/early 2008, just before the Fed had to launch a multi-trillion bailout to save capitalism as we know it.

Death Of The Middle Class: Homeownership Rate Drops To 29 Year Low As Average Rent Hits Record High

Earlier today the US Census released its latest quarterly data, which confirmed that for what is left of America's middle class, owning a home has become virtually impossible, with the homeownership rate tumbling from 64.0% to 63.7%, which is tied for the lowest historic print since the first quarter of 1986, with the only difference that then the trendline was higher. Now, as can be seen on the chart below, it isn't. At this rate, by the end of the 2015 and certainly by the end of Obama's second term, the US homeownership rate will drop to the lowest in modern US history.

Copper Plunge Continues Despite Chinese Stimulus

Since China unleashed its latest (and greatest since 2008) RRR cut, stock prices have surged amid the liquidity hype. However, perhaps more indicative of the underlying reality of just what good an RRR cut will do to a debt-saturated economy full of weak credits thanks to tumbling asset prices, copper prices have now plunged over 6% in the last 2 days...

Einhorn Slams Bernanke's Blog, Says Fed Policy Is A "Destructive Force That Shouldn't Exist Outside Of Fiction"

"We have passed the point where Jelly Donut policy is merely slowing the recovery. Distortions are now adding risk to the banking and insurance markets and leading to poor incentives for the largest players in the financial system. Monetary policy and regulations have combined like a failed chemistry experiment to create a potentially destructive force that should not exist outside of fiction."

- David Einhorn