Julian Robertson Warns "We Are In A Bubble Market" And Yellen Is "Way Too Easy Money"

Tyler Durden's picture




 

"Steve Jobs was really a pretty terrible man... and I just don't believe bad guys do well in the long run," is the subtle way the billionaire fund managed describes the ex Apple CEO before shifting his view to the broader market. A spell-bound Maria Bartiromo was looking for any silver lining when Julian Robertson responded ominously, "we're in the middle of a kind of bubble market," and when they "prick the bubble, there will probably be a pretty bad reaction." With views on The Fed's easy-money, Twitter, and market frothiness, Robertson is a breath of truthy fresh air that we suspect will not be back on the money-honey's show anytime soon...

 

 

On Steve Jobs:

"I came to the conclusion that it was unlikely that a man as really awful as I think that Steve Jobs was, could possibly create a great company for the long term.

 

I just don't believe bad guys do well in the long run," Robertson said.

On The Market:

...the broader market is "fully valued" and otherwise appears a little frothy.

 

"I think we're in the middle of a kind of bubble market, where it's going to take something bubble-like to happen to prick the bubble and will probably have pretty bad reaction to the breaking of the bubble," Robertson said.

 

"Probably will not [happen] right now and somehow I think we'll wallow through the political and fiscal crisis we have in front of us and then we'll sort of see what happens."

On The Fed:

...he would not prefer Vice Chair Janet Yellen because he thinks she's "way too easy money."

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Mon, 10/07/2013 - 20:44 | 4032607 TaperProof
TaperProof's picture

Jobs did always seem like a douche

Mon, 10/07/2013 - 20:47 | 4032613 fonzannoon
fonzannoon's picture

she's not spell-bound she's a retard.

Mon, 10/07/2013 - 20:49 | 4032622 Pure Evil
Pure Evil's picture

Well, at least Janet's not EASY some other way.....

Mon, 10/07/2013 - 20:53 | 4032629 NemoDeNovo
NemoDeNovo's picture

YIKES - NO not that visual, shes "Almost" scarier then Big Sis or Hitlery nekkid ~ Vomits

Mon, 10/07/2013 - 20:59 | 4032644 Arius
Arius's picture

good to see someone has still values and principles...

Mon, 10/07/2013 - 21:02 | 4032655 Careless Whisper
Careless Whisper's picture

SJ insisted on suicide nets at the factory. He wasn't all bad.

Mon, 10/07/2013 - 21:15 | 4032679 Popo
Popo's picture

I'm surprised Maria Barteroromero didn't throw up her hands and say, "Oh you read it in the BOOK.  What are the facts?  How can a man that makes money be bad?   Thanks for coming on the show."    

Mon, 10/07/2013 - 23:14 | 4032936 Stackers
Stackers's picture

For a true look into how big of a piece of crap of person Steve Jobs was watch the movie The Pirates of Silicon Valley.Not only in business was he a complete scum bag, but also in his personal life regarding his daughter he abandoned as his business success exploded. completely moraless slave driving theiving scum of the earth

 

http://www.youtube.com/watch?v=BI-nzUIYIX4

Tue, 10/08/2013 - 00:55 | 4033077 Fish Gone Bad
Fish Gone Bad's picture

Wow, I didn't like Jobs because I thought ipods were just stupid, having to replace the battery or buy a new ipod every year.  Good to know now I can dislike him for being a tool.

Tue, 10/08/2013 - 06:40 | 4033225 thestarl
thestarl's picture

I think Jobs epitomised the fundamental flaw with globalisation if you keep pushing down labour costs be it outsourcing to China or wherever soon no one earns enough to consume only to subsist.

Tue, 10/08/2013 - 07:54 | 4033274 onewayticket2
onewayticket2's picture

but in pushing labor demand to a low cost market, you are helping the low cost market become less of a low cost market.  youre fueling their local economy....while fueling further demand of said product via lower retail prices in the home mkt....globalisation equalizes outcomes - isnt that was the left wants?  sure it lowers labor cost, but in a way that floats all boats and rises the tide.  no?

Mon, 10/07/2013 - 21:12 | 4032658 DJ Happy Ending
DJ Happy Ending's picture

Steve Jobs always paid me, I could care less if he was an asshole. To each his own.

Mon, 10/07/2013 - 21:44 | 4032751 i_call_you_my_base
i_call_you_my_base's picture

You make his point.

Mon, 10/07/2013 - 22:02 | 4032771 DJ Happy Ending
DJ Happy Ending's picture

Please elaborate, I don't get it.

Mon, 10/07/2013 - 23:46 | 4032988 wee-weed up
wee-weed up's picture

People who "enable" assholes wouldn't "get it."

Tue, 10/08/2013 - 00:33 | 4033035 DJ Happy Ending
DJ Happy Ending's picture

Thank you, that was as enlightening as all the down votes. It's easier to judge and criticize than discuss or debate.

Tue, 10/08/2013 - 00:33 | 4033059 DeadFred
DeadFred's picture

In simple terms the video talks about how a nasty-ass guy like Jobs (I know several people who worked one-on-one with the guy and all would agree with this assessment) may be able to hold a company together with his genius but can't create a culture that would survive him. This assumes that the 'better side' of humanity, such things as trust, fairness, cooperation is required for an long lived organization and that a character disordered individual can't impart into his creation that which he doesn't have within himself. Your comment comes across as destinctly lacking in character so many concluded the point was made. I can see two possible avenues for argument, that your comment did not acurately reflect your character or that a character disordered company can live long and prosper. Option one has a better chance of succeeding in my opinion.

Tue, 10/08/2013 - 11:36 | 4033935 DJ Happy Ending
DJ Happy Ending's picture

What's worse, taking an asshole's money or giving him yours?

How many of you have purchased an Apple product?

I remember when this place had more libertarians and fewer hypocrites.

Tue, 10/08/2013 - 00:54 | 4033072 wee-weed up
wee-weed up's picture

 

 

DJ Happy Ending

You got all the down votes because you said...

you didn't care if someone was an asshole...

as long as they paid you.

A lot of cheap whores on the street say something like that also.

Tue, 10/08/2013 - 02:53 | 4033158 Kirk2NCC1701
Kirk2NCC1701's picture

I'm surprised that for a 'bright' guy -- paid by SJ no less -- that he didn't "get" the point that you had to spell out for him.

Maybe he has a high IQ, but clearly a low EQ. 

Tue, 10/08/2013 - 05:48 | 4033209 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Why are you so down on "cheap whores"?

Mon, 10/07/2013 - 22:02 | 4032789 howenlink
howenlink's picture

I logged on to UP ARROW you, _base.

Mon, 10/07/2013 - 23:57 | 4033015 prains
prains's picture

DJ

 

what they're saying is, your "what makes an asshole" threshold is quite LOW.

if you raised the bar a little bit, you'd suddenly realize he was a complete dripping douche with a huge fungal problem around the brainal area, it's actually quite plain to see to most typical human beings and you didn't even need to meet the douche to know it. In short you need a major douche 2.0 upgrade to just become a salient human again

 

capiche

Mon, 10/07/2013 - 20:59 | 4032646 NoDebt
NoDebt's picture

Steve Jobs first tour at Apple he was a douche.  From someone I know who worked with him back then he had plenty to say about the guy (who made him rich, by the way).  I can't remember everything he said, but one comment has stuck with me:  "Steve Jobs wasn't interested in anything he couldn't snort up his nose."

I hear he had mellowed a bit the second time around.

Mon, 10/07/2013 - 21:37 | 4032733 booboo
booboo's picture

Her nick name at Yale was "Skippy" cause she spread (Hunnphhhh, *spits*.... just a minute..)......cause she spread easy.

Tue, 10/08/2013 - 01:03 | 4033086 All Risk No Reward
All Risk No Reward's picture

Yellen does what she's told.

When she's told to saturate the planet with debt, Yellen says, "how much?"

When she's told to bankrupt Earth, Yellen says, "how fast?"

 It must not be felt that these heads of the world's chief central banks were themselves substantive powers in world finance. They were not. Rather, they were the technicians and agents of the dominant investment bankers of their own countries, who had raised them up and were perfectly capable of throwing them down. The substantive financial powers of the world were in the hands of these investment bankers (also called "international" or "merchant" bankers) who remained largely behind the scenes in their own unincorporated private banks. These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in the central banks. This dominance of investment bankers was based on their control over the flows of credit and investment funds in their own countries and throughout the world. They could dominate the financial and industrial systems of their own countries by their influence over the flow of current funds through bank loans, the discount rate, and the re-discounting of commercial debts; they could dominate governments by their control over current government loans and the play of the international exchanges. Almost all of this power was exercised by the personal influence and prestige of men who had demonstrated their ability in the past to bring off successful financial coupe, to keep their word, to remain cool in a crisis, and to share their winning opportunities with their associates. In this system the Rothschilds had been preeminent during much of the nineteenth century, but, at the end of that century, they were being replaced by J. P. Morgan whose central office was in New York, although it was always operated as if it were in London (where it had, indeed, originated as George Peabody and Company in 1838). Old J. P. Morgan died in 1913, but was succeeded by his son of the same name (who had been trained in the London branch until 1901), while the chief decisions in the firm were increasingly made by Thomas W. Lamont after 1924. But these relationships can be described better on a national basis later. At the present stage we must follow the efforts of the central bankers to compel the world to return to the gold standard of 1914 in the postwar conditions following 1918.
~Carroll Quigley, Tragedy and Hope

http://real-world-news.org/bk-quigley/07.html

Part 7 is well worth the read.  Quigley is the only human being given full access to the Council on Foreign Relations library and allowed to put what he learned into a book.  He lays out history from the perspective of an oligarch - and he names names, dates and purposes of so many conspiracies your head will spin.

Tue, 10/08/2013 - 13:00 | 4034298 Fíréan
Fíréan's picture

@ All Risk No Reward.

Thank youfor the Quigly pointer, reference and link.

Mon, 10/21/2013 - 01:30 | 4075174 All Risk No Reward
All Risk No Reward's picture

No, thank you for being discerning and understanding the value of a resource like this.

Here are two more...

TragedyAndHope.com

The Shadows of Power: The Council on Foreign Relations and the American Decline | James Perloff

https://www.youtube.com/watch?v=j_gj1uZ6194

Mon, 10/07/2013 - 21:42 | 4032742 yogibear
yogibear's picture

Who in the F would want to do her?

Tue, 10/08/2013 - 07:51 | 4033269 Chaos_Theory
Chaos_Theory's picture

She was a hell of an actor.  Remember her as Billy Crystal's assistant in The Princess Bride

Mon, 10/07/2013 - 22:15 | 4032817 ABG LINE
ABG LINE's picture

LoL!

Mon, 10/07/2013 - 22:38 | 4032863 Blano
Blano's picture

Why, did you give it a go?

Mon, 10/07/2013 - 20:59 | 4032649 Hughing
Hughing's picture

can't we all just get along?

Mon, 10/07/2013 - 21:10 | 4032675 NoDebt
NoDebt's picture

No.

Mon, 10/07/2013 - 22:41 | 4032868 Blano
Blano's picture

Booooooorrrrriiiinnnnnggggg.

Mon, 10/07/2013 - 21:39 | 4032737 Jack Burton
Jack Burton's picture

Look how badly she is beinning to sag. The Money Honey is a granny underneath all the make up and hair, and special lighting. She needs a push up bra at her age.

Steve Jobs, I have never ever made on single comment on that man. I was never very interested in Apple, though god knows I heard enough about him and Apple. I break my silence, after hearing about him now for a very long time, I believe he could and did make lots of money. But I do not worship Apple, or it's products. Jobs was a saleman and a ruthless manipulator, or manager, whatever you want to call him. As an American, he was a perfect fit. He sold his products to wild eyed consumers who were levered up to afford the Apple life style. He made his products in China in slave conditions where humans were part of the subcontractors Apple deniablity cover. In other words, Apple could abuse and cheat low wage slaves and do it in secret behind the great cover companies. He manufactured abroad, he avoided most taxes and still Apple holds it's money abroad. He profited from America and it's people, he profited from China and it's people, and he never let the the tax men get a cut. In his personal and business life he was not an inovater or inventer, he knew how to live of of others creativity.

He died just as he deserved, arrogant up until he realized he was just another human animal like us all. He was not a person any decent human would want as friend or family. But he made shit loads of money, so some will worship and admire him. I am not one of those!

Tue, 10/08/2013 - 00:36 | 4033065 bonin006
bonin006's picture

I wonder if some advice from Raquel Welch would do Maria any good. Regarding Jobs, the wikipedia entry about Wozniak says Jobs screwed him right from the begining (but when he found out later he didn't even care). That probably made Jobs even more of an asshole as it confirmed he could get away with it.

Tue, 10/08/2013 - 03:00 | 4033164 Kirk2NCC1701
Kirk2NCC1701's picture

'De gustibus non disputandum'.  To each his own. 

Personally, I was quite mesmerized by her 'natural' look.  So tired of all the fake Si, PU bras, botox, fake money, fake everything.  Go Maria!

Mon, 10/07/2013 - 21:55 | 4032774 infinity8
infinity8's picture

I get so irritated by that stupid bitch I didn't watch - makes me a little crazy.

Mon, 10/07/2013 - 22:35 | 4032850 Nobody For President
Nobody For President's picture

I don't watch TV, but watched this clip and finally got to see what some of the ZH dogs meant about Maria's nipples...

Was she interviewing somebody?

Mon, 10/07/2013 - 23:31 | 4032979 orangedrinkandchips
orangedrinkandchips's picture

Thats 1 for the treble, 2 for the base, MARIA'S GOT NUT ALL OVER HER FACE.....

 

 

https://www.youtube.com/watch?v=Vjo5qhDpUSY

Mon, 10/07/2013 - 23:35 | 4032985 brettd
brettd's picture

Hilary's lover.

Tue, 10/08/2013 - 00:48 | 4033069 mc225
mc225's picture

maria pokies

Tue, 10/08/2013 - 01:23 | 4033102 xtop23
xtop23's picture

I couldn't care less if he was a douche....I didn't work for him.

You gotta give him props, damn good businessman.

Mon, 10/07/2013 - 20:45 | 4032612 ZerOhead
ZerOhead's picture

< Yellen

< Not Yellen

Next Fed Chair?

Mon, 10/07/2013 - 20:48 | 4032615 The Big Ching-aso
The Big Ching-aso's picture

Is he saying Jobs was a bad apple?

Mon, 10/07/2013 - 21:00 | 4032626 ZerOhead
ZerOhead's picture

Bad to the iBone...

(Apples' new hi-tech offering for the American dog market)

Mon, 10/07/2013 - 21:06 | 4032664 Bobportlandor
Bobportlandor's picture

It's bad to the Core

Mon, 10/07/2013 - 23:16 | 4032945 vulcanraven
vulcanraven's picture

Dual Core even

Mon, 10/07/2013 - 20:51 | 4032625 SnobGobbler
SnobGobbler's picture

how 'bout no more fed...at..all. 

 

 

 

 

 

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