Flashback To Mark Haines Commemorating 1987... As Stocks Plunge Most In 4 Months

Tyler Durden's picture




 

On a day full of memories (and a market which is down the most in 4 months), we thought (courtesy of Doug Kass) the irreplacable Mark Haines view of the 1987 crash from 2007 (just a few days after what would be the market's absolute top) was worthy of remembrance. What is perhaps most notable in the discussion is Elaine Garzarelli's 'nailed-it' indicator-based call of the top in 1987 and subsequent total 'absolutely bullish' miss in 2007 - as central bank intervention had already removed any 'indicator-based' value from market participants' toolkits and business cycle comprehension. We wonder what Haines would have made of QEtc. and today's exuberant irrationality. Must-watch to 'check' some exuberance at the door.

 

and here is Garzarelli in January of 2012 - looking for Dow 15k... watch it - and see if any of it rings a bell?

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Fri, 10/19/2012 - 12:54 | 2904576 The Shootist
Fri, 10/19/2012 - 13:00 | 2904604 CPL
CPL's picture

http://www.youtube.com/watch?v=eR4KcO_MovE&feature=related

 

The helmet of country himself, Conway Twitty

 

http://www.youtube.com/watch?v=wmimLBSTEUw

 

Stompin Tom...minus the NHL

Fri, 10/19/2012 - 13:09 | 2904642 Skateboarder
Skateboarder's picture

I like old (read real) country better. ;)

https://www.youtube.com/watch?v=sAUTfkk2zp0

Fri, 10/19/2012 - 13:18 | 2904696 vast-dom
vast-dom's picture

holy fucking shit how does this woman afford to feed herself? this fucking farce of farces! the sheeple must be slaughtered out of their grazing stupor!

Fri, 10/19/2012 - 13:27 | 2904728 Skateboarder
Skateboarder's picture

The sheer volume of retardation coming out of her mouth is appalling. "The market's focusing on domestic economy these days... yadda yadda"

WTF!

Fri, 10/19/2012 - 23:41 | 2906028 Harlequin001
Harlequin001's picture

She looks like the Joker. Way too much plastic.

Me, I grow old gracefully.

No I don't, I grow old kicking and screaming but I still grow old just as fast.

and happy with it...

Fri, 10/19/2012 - 13:30 | 2904743 jcaz
jcaz's picture

LOL- still living on her one good call, 25 yrs later......

ALL of us saw it, Elaine-  you just didn't have any real money on the line back then....

Fri, 10/19/2012 - 13:58 | 2904806 AlaricBalth
AlaricBalth's picture

Here is PBS's Nightly Business Report Broadcast from the night of October 19, 1987. The sponsors of the show were Kidder, Peabody and Digital Equipment Corp., which just goes to show how transitory some public companies can and will be. Neil Cavuto was actually reporting, not spinning. Note the Federal Reserve Vice-Chairman stepping in to try to "calm" the markets. History definitely rhymes.

http://www.youtube.com/watch?v=4pjSlIkNxXg  1st ten minutes

http://www.youtube.com/watch?v=T-aFfkB4xv4  2nd ten minutes

http://www.youtube.com/watch?v=6e7qn2n4qLg Final ten minutes

Fri, 10/19/2012 - 18:15 | 2905629 Randall Cabot
Randall Cabot's picture

Well, she said buy TNA back in January and it went from 45 to a 70 top!

Fri, 10/19/2012 - 13:46 | 2904814 Eireann go Brach
Eireann go Brach's picture

Is she half goat, half human? Her face looks like the back of a goat!

Fri, 10/19/2012 - 14:00 | 2904869 Bay of Pigs
Bay of Pigs's picture

Last time I saw a mouth like that it had a hook in it,

Fri, 10/19/2012 - 12:56 | 2904581 Ivanovich
Ivanovich's picture

Does this woman have the same makeup artist as The Joker?

 

"I'm only smiling on the outside..."

Fri, 10/19/2012 - 13:01 | 2904606 SemperFord
Fri, 10/19/2012 - 13:04 | 2904619 I Am Not a Copp...
I Am Not a Copper Top's picture

She's been using Smiley

Fri, 10/19/2012 - 22:38 | 2905980 Lazlo Toth
Lazlo Toth's picture

I believe based on my recollection... it was Smilex. :)

Fri, 10/19/2012 - 13:01 | 2904611 RSloane
RSloane's picture

I knew she looked familiar!

Fri, 10/19/2012 - 13:48 | 2904819 BandGap
BandGap's picture

That's not make-up, dude. That's the way her face is shaped. Hope shie didn't pay for that. Ugh.

She's just hawkin' for business.

Fri, 10/19/2012 - 13:53 | 2904846 BandGap
BandGap's picture

William Banzai has moved to video.

Fri, 10/19/2012 - 22:39 | 2905979 Drachma
Drachma's picture

I would suspect it's the result of cosmetic surgery gone wrong, with multiple re-tries to fix the botched cheeck enhancements.

Fri, 10/19/2012 - 12:56 | 2904585 The Gooch
The Gooch's picture

Is that the Joker?

Fri, 10/19/2012 - 13:04 | 2904616 Fleecer
Fleecer's picture

with one sweeeeeet-ass  fro.

 

Fri, 10/19/2012 - 13:50 | 2904832 It is a bargin ...
It is a bargin my friend's picture

Shit that reminds me..I have some letters to post

Fri, 10/19/2012 - 12:59 | 2904599 Caviar Emptor
Caviar Emptor's picture

Mark Haines isn't really dead. It's a conspiracy.

Fri, 10/19/2012 - 13:37 | 2904776 Orly
Orly's picture

Being held hostage in the basement of a three-story tenement in Paducah, Kentucky, the town he dog-mouthed continually lo those many years...

Fri, 10/19/2012 - 14:17 | 2904930 fourchan
fourchan's picture

suicide is painless.

Fri, 10/19/2012 - 12:59 | 2904600 The trend is yo...
The trend is your friend's picture

Elaine "Wait till they get a load of me" Gazzerili.  Always smiles and always bullish

Fri, 10/19/2012 - 13:01 | 2904607 Vincent Vega
Vincent Vega's picture

Erin Burnett.....YUM!

Fri, 10/19/2012 - 13:01 | 2904608 RSloane
RSloane's picture

Former Lehman Brothers partner and managing director?

Oh yah, she would be the first I'd turn to for market advice.............NOT.

Fri, 10/19/2012 - 13:02 | 2904610 LouisDega
LouisDega's picture

Mark Haines... A man's man. You are missed. 

Fri, 10/19/2012 - 13:13 | 2904674 fonzannoon
fonzannoon's picture

Mark Haines was pretty cool but he used to try to make Schiff look like a nut job.

Fri, 10/19/2012 - 13:05 | 2904622 Bokkenrijder
Bokkenrijder's picture

More proof that if you're a complete incompetent idiot and trown enough darts at the board, you might hit the bulls eye once, like Garzarelli in 1987.

Fri, 10/19/2012 - 13:05 | 2904628 Legolas
Legolas's picture

L M A O !!!

Fri, 10/19/2012 - 13:06 | 2904630 semperfi
semperfi's picture

BULLISH!!!  No sarc.  Genuinely bullish!!  BTFD!!  Bernanke PUT will 100% money-back gauranteed save the day.  That is until hyperinflation kicks in, which we are a looong way from.  So double, even triple down and BTFD !!

Fri, 10/19/2012 - 13:05 | 2904632 semperfi
semperfi's picture

BULLISH!!!  No sarc.  Genuinely bullish!!  BTFD!!  Bernanke PUT will 100% money-back gauranteed save the day.  That is until hyperinflation kicks in, which we are a looong way from.  So double, even triple down and BTFD !!

Fri, 10/19/2012 - 13:07 | 2904635 disabledvet
disabledvet's picture

it's called "buy low sell high" for a reason....not "buy high sell higher." i would say Chairman Bernanke's "Beggar thy Neighbor" is causi bellum...but for whom...but for whom. Clearly "the panic trade" has been treasuries...and we are told...here no less...to "buy, buy, buy." eh, maybe. spending does seem a tad on the high side, no? and well, that is pretty significant borrowing too. interestingly "all without inflation." clearly no one can be surprised by the social unrest! and the idea that money center banks is the place to be...well, that's quite a run they've had i must say. but isn't the lesson of 2008 "know thy borrower"??? no? how about "know they collateral" then? "oh, that's real estate and that only goes up"? "especially after it goes down that one and only time"? how long have i been saying that these ultra low interest rates represent DEFAULT risk? going on over a year now? But "for a REAL BIG SPENDER" yes, yes? i mean "they've already cleaned out all the lemonade stands" in our economy. I did take note "they're auctioning new cars in e-bay"...something i've been waiting for a some time now. Now LET'S TALK TAXES SHALL WE....

Fri, 10/19/2012 - 13:22 | 2904714 greensnacks
greensnacks's picture

What false afternoon rumor is on the books to drive the market higher into close?

Fri, 10/19/2012 - 13:09 | 2904652 MMM
MMM's picture

She looks drunk

Fri, 10/19/2012 - 13:09 | 2904655 Spastica Rex
Spastica Rex's picture

Gypsies are so fun to listen to.

Fri, 10/19/2012 - 13:14 | 2904675 Jake88
Jake88's picture

What is she on? I'd like to get some.

Fri, 10/19/2012 - 13:17 | 2904686 surf0766
surf0766's picture

B cups

Fri, 10/19/2012 - 13:16 | 2904688 reload
reload's picture

Jesus, what a waste of oxygen.

Sell side buffoonery squared.

Fri, 10/19/2012 - 13:16 | 2904689 Seasmoke
Seasmoke's picture

she went from 14 indicators down to 12 indicators...............i guess she got rid of the 2 that caused her miss in 2007 !

Fri, 10/19/2012 - 13:18 | 2904694 Quinvarius
Quinvarius's picture

They had a down day in Zimbabwe a couple times.

Fri, 10/19/2012 - 13:21 | 2904698 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

Interesting that she is now looking at 12 indicators, down from 14 back in 2007.  Maybe she will get it right when her model has 0 indicators.

 

Edit - didn't see your comment Seasmoke.

Fri, 10/19/2012 - 13:26 | 2904708 Dr. Engali
Dr. Engali's picture

That Woman is nukking futs I cannot believe she would be recommending financials......well yes I can believe she's recommended financials she's a Lehman Brothers clown. Maybe she should get a room with Abby Joseph and Dick Bove For a little three-way.

Fri, 10/19/2012 - 13:39 | 2904790 Orly
Orly's picture

Do you have to use that word, "clown," seriously?

Your words are so hurtful, doc.

Fri, 10/19/2012 - 13:46 | 2904813 Dr. Engali
Dr. Engali's picture

You are correct. To all of you clowns out there I sincerely apologize.

Fri, 10/19/2012 - 13:35 | 2904715 Tsar Pointless
Tsar Pointless's picture

Remember that article posted sometime within the past week, in which one of the Tyler's noted the last time investor sentiment was so bullish, back in December 2008, and how the S&P proceeded to plunge 22% over the course of the next 11 trading days?

Well, let's see - there are precisely 11 trading days remaining until the eve of the 2012 General Election. So, applying the same 22% drop to our latest S&P high of 1470-ish, gives us an S&P of 1150-ish by EOD Friday, 11/2/2012.

It also would give us President Mitt Romney and Vice-President Paul Ryan, and likely an all-Republican Congress, to boot.

Doesn't that sound like the script that is being played out?

Fri, 10/19/2012 - 13:23 | 2904717 AustriAnnie
AustriAnnie's picture

Housing has bottomed and she argues this is because of statistics they look at that have turned up in the LAST THREE WEEKS?  Apparently, 3 weeks is all it takes to make a long term secular bull trend.

Best line in the interview:

"We worked together at Lehman Brothers"  (that says it all)

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