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"Alpha"

Tyler Durden's picture




 

Here is what we said in our latest comment on hedge fund positioning from this weekend.

"As Goldman adds:  "Short holdings created problems by rising 130 bp more than S&P 500 YTD." Gee, where have we seen this before, not to mention predicted this would happen? Why here: "Presenting The Best Trading Strategy Over The Past Year: Why Buying The Most Hated Names Continues To Generate "Alpha."

 

Thank you Chairman Bernanke and Chairmanwoman Yellen, not to mention HFT vacuum tubes, for making the market so broken, a tinfoil blog can outperform the smartest money in the street."

What else can we add but.... "alpha".

 

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Wed, 04/09/2014 - 14:45 | 4640181 SilverIsKing
SilverIsKing's picture

A lot of words come to mind but Alpha isn't one of them.

Wed, 04/09/2014 - 15:12 | 4640287 Say What Again
Say What Again's picture

It would be nice if Bloomberg would create an index to track the buy and sell orders of congress,  I would like to correlate that to the various "news announcements" we see on a daily basis.

Wed, 04/09/2014 - 15:14 | 4640301 quintago
quintago's picture

Inflows from IRA/401K contributions before tax time. The dust will settle again in a week.

Wed, 04/09/2014 - 15:28 | 4640378 derek_vineyard
derek_vineyard's picture

cawk suckers are hell bent to steepen the yield curve

a ponzi with not fdic backing....but the entire us government backing

books will be written about these times

Wed, 04/09/2014 - 17:11 | 4640865 I am more equal...
I am more equal than others's picture

 

 

It's called PUNISHMENT.

Don't you even think about shorting this market.  Big brother will PUNISH YOU!

Now buy the fucking dip or die.

Wed, 04/09/2014 - 20:03 | 4641363 asteroids
asteroids's picture

Better yet, just don't play.

Wed, 04/09/2014 - 15:35 | 4640418 Dumpster Fire
Dumpster Fire's picture

"Its just money; its made up. Pieces of paper with pictures on it so we don't have to kill each other just to get something to eat."

Thu, 04/10/2014 - 02:21 | 4642267 0z
0z's picture

If it's 'made up', it is a credit instrument-
Which can only ever achieve the status of 'money-substitute.'
Money is real, and is used to settle existing credit.
Cattle, Rice, Wheat, Coffee, Salt, Oil, Gold, Copper, Tin, Clean Water-
These are Money!
Avoid being Confused by Their Words!

Wed, 04/09/2014 - 15:41 | 4640456 laboratorymike
laboratorymike's picture

Exactly. Also, we will see a slight spending boost when the returns are mailed back, then it will be back to reality.

Wed, 04/09/2014 - 14:47 | 4640187 Spungo
Spungo's picture

I always liked alpha nu alpha lambda

Wed, 04/09/2014 - 14:47 | 4640188 fonzannoon
fonzannoon's picture

Alpha

"After including one-time items, net loss for the reported quarter was $122 million or 84 cents per share compared with net loss of $50 million or 35 cents per share recorded in the year-ago quarter.

For full-year 2013, net loss was $2,064 million or $14.27 per share compared with net loss of $124 million or 86 cents per share. The net loss in 2013 include a favorable tax-related item as well as goodwill impairment and restructuring charges.

Revenues for the fourth quarter fell roughly 4.9% year over year to $4,269 million, missing the Zacks Consensus Estimate of $4,331 million. For the full year, revenues declined 9.9% to $17,424 mill"

http://finance.yahoo.com/q/bc?s=X+Basic+Chart&t=1y

Wed, 04/09/2014 - 14:47 | 4640190 lolmao500
lolmao500's picture

This wil end super well...

Adm. James Syring: Possible to speed up deployment of missile defense planned for Poland in 2018, but move would require help from Congress

Russia has threatened to use "destructive force" if NATO missile defense systems are put in place.

I am several kilometres outside and have just seen heavy artillery by the side of the road! bout 10 vehicles

Self-defence have set up road outside - stopping and searching cars while police look on.

First Deputy Prime Minister of : pro- invaders must give captured weapons by tomorrow 12 PM

Or what ya gonna do willis? Start a war?

Wed, 04/09/2014 - 15:40 | 4640411 Mr Giggles
Mr Giggles's picture

No such thing as missile defense, just another scam. More theatre to scare the sheep. Just to show decicive action is being taken, with tax dollars (New lamboughini anyone.)

Wed, 04/09/2014 - 14:48 | 4640192 The Wisp
The Wisp's picture

I'm getting the Idea that Zero Hedge is Paid to Be Wrong on every Given Day...

 now i know why they call it Doom Porn.

 

Wed, 04/09/2014 - 14:50 | 4640206 john39
john39's picture

wrong about what?  one of the major themes posted on is the fact that the markets are rigged.   you take issue with that?

Wed, 04/09/2014 - 14:53 | 4640216 Conman
Conman's picture

You read the article and this is what you have to say? Wow.

Wed, 04/09/2014 - 14:54 | 4640220 johnnyarrowmaker
johnnyarrowmaker's picture

wrong about what (2) ?

 

... so the fact that ALL of the major banksters have to pay fines almost every day it seems now, is irrelevant is it?

 

Crawl back into your shell, shill.

Wed, 04/09/2014 - 14:57 | 4640233 Toolshed
Toolshed's picture

If you are clueless about what is going on in the world of finance and politics today, then you would not understand the postings and comments here. So.........go get a clue. If you are looking for trading advice, on the other hand, I would recommend reading everyting written or spoken by Jim Cramer. That guy is a frickin genius!!! And if FX trading is your thing, Tom Stolper is, er was, your man!! Good luck!! LOL!!!!!!!

Wed, 04/09/2014 - 15:04 | 4640253 unplugged
unplugged's picture

I'm getting the idea that:

1. you are on the Langley payroll
2. or the MSM payroll
3. or the JPM payroll
4. or the [insert your favorite TBTJail bank] payroll
5. or you are just a dick

Wed, 04/09/2014 - 15:05 | 4640258 El Vaquero
El Vaquero's picture

6. or he is just a fucking moron.

Wed, 04/09/2014 - 15:33 | 4640409 thamnosma
thamnosma's picture

#5

Wed, 04/09/2014 - 16:57 | 4640793 The Wedge
The Wedge's picture

Or #6, he has a different opinion than the group wizardry here. The shock and horror! Don't agree? You must be a shill for insert latest hedge boogy man.

Wed, 04/09/2014 - 18:58 | 4641167 Remington IV
Remington IV's picture

Wisp = LOSER

Wed, 04/09/2014 - 14:49 | 4640197 Bill of Rights
Bill of Rights's picture

The number of Fed officials betting on rates rising in 2008
The number of Fed officials betting on rates rising in 2009
The number of Fed officials betting on rates rising in 2010
The number of Fed officials betting on rates rising in 2011
The number of Fed officials betting on rates rising in 2012
The number of Fed officials betting on rates rising in 2013
The number of Fed officials betting on rates rising in 2014

 

Such bull shit...

Wed, 04/09/2014 - 15:07 | 4640263 LawsofPhysics
LawsofPhysics's picture

Indeed, "taper" you say?  Show me the fucking balance sheet...

Wed, 04/09/2014 - 14:58 | 4640201 khakuda
khakuda's picture

It is funny that the market is always surprised by the Fed, which keeps saying the same thing over and over.  Money is free and will be forever.

With China devaluing and Japan devaluing and Europe talking about doing more, what idiot thinks the Fed could EVER tighten?

The question people should be asking is are assets overvalued after 6 years of free money with more to come?

Wed, 04/09/2014 - 15:09 | 4640270 derek_vineyard
derek_vineyard's picture

they'd make the rates deeply negative, but that would cause a run on the banks

maybe, congress can criminalize having cash...to help the fed

Wed, 04/09/2014 - 14:52 | 4640211 Spungo
Spungo's picture

lol US Steel. That's the company Porter Stansberry used in his valuation video to show a textbook example of a terrible stock to buy. Notice how the net income has become more negative each year.

Wed, 04/09/2014 - 14:53 | 4640212 fonzannoon
fonzannoon's picture

shit...so he got one right? Good job by him I guess....

Wed, 04/09/2014 - 15:03 | 4640246 Grande Tetons
Grande Tetons's picture

When you get home from work...look behind your woodshed. I think you will find some Silver. 

Wed, 04/09/2014 - 15:15 | 4640289 derek_vineyard
derek_vineyard's picture

stealing pms might become in vogue

Wed, 04/09/2014 - 15:21 | 4640337 Grande Tetons
Grande Tetons's picture

derek, you missed the idiom

reprove or punish someone, especially discreetly. US , informal

Fuck, someone took my pms behind the woodshed. I use this one very often. 

 

Wed, 04/09/2014 - 14:53 | 4640214 NoDebt
NoDebt's picture

When it goes up, its called alpha.  When it's going down it's called volatility.

Wed, 04/09/2014 - 14:57 | 4640231 Grande Tetons
Grande Tetons's picture

Down? Sorry, I am not familiar with that term. Can you stop using jargon, please? 

Wed, 04/09/2014 - 15:01 | 4640242 unplugged
unplugged's picture

market?  what's that?

Wed, 04/09/2014 - 15:20 | 4640341 NoDebt
NoDebt's picture

Apologies, guys.  Terms like "market" and "down" come from the old days, before most people here could remember.  Back then stocks could go "down" in price, sometimes for extended periods of time.  And there were other complicated, poorly understood forces that affected those stock prices.  We called those "market" forces.

Nowadays, those terms are obsolete and investing is a much simpler process.  You just buy whatever the Fed tells you to buy.  So the next time somebody starts talking about "the good old days", remind them that back then the process was more complicated and invoved actual risk.  The good old days weren't all that good.

Wed, 04/09/2014 - 18:59 | 4641172 Remington IV
Remington IV's picture

or ,sadly ,   my P&L

Wed, 04/09/2014 - 14:54 | 4640219 buzzsaw99
buzzsaw99's picture

ah say, it's a buy, alpha baby up and die [/singing]

Wed, 04/09/2014 - 14:55 | 4640223 Bill of Rights
Bill of Rights's picture

To the surprise of only those who haven't been paying attention, the latest ObamaTax "enrollment" numbers are in, and they're not pretty

http://www.nytimes.com/2014/04/09/business/study-looks-at-earliest-health-law-enrollees.html?partner=rss&emc=rss&_r=3

Wed, 04/09/2014 - 15:18 | 4640321 Muppet
Muppet's picture

don't bother .... above link requires an account  

Wed, 04/09/2014 - 18:59 | 4641175 Remington IV
Remington IV's picture

Otherwise known , as the Bendover Act

Wed, 04/09/2014 - 14:58 | 4640237 starman
starman's picture

Remember the banks got two more years of "risky securities" warning by the fed!

So game on.

Wed, 04/09/2014 - 15:00 | 4640240 unplugged
unplugged's picture

market?  what market?  there ain't no fuckin' market !

Wed, 04/09/2014 - 15:04 | 4640251 Save_America1st
Save_America1st's picture

"Alpo"

Wed, 04/09/2014 - 15:04 | 4640255 Yen Cross
Yen Cross's picture

   Oil @ almost $104.00 bbl should generate lots of alpha. /s

Wed, 04/09/2014 - 15:07 | 4640261 ebworthen
ebworthen's picture

Income inequality forward!

S&P is now a Ponzi strength indicator.

Wed, 04/09/2014 - 15:24 | 4640358 TrustWho
TrustWho's picture

Did Lewis call this a rigged market? Was Lewis ridiculed? Is this a comedy?

Wed, 04/09/2014 - 15:26 | 4640369 bam
bam's picture

where do you get stats for most shorted?!

is there an updating list somewhere we can see for free? 

 

Wed, 04/09/2014 - 15:28 | 4640371 Dr. Engali
Dr. Engali's picture

Like I said yesterday. I wonder how many shorts are being lured in just to get old Yeller's hot poker up their ass.

Wed, 04/09/2014 - 15:52 | 4640515 B.J. Worthy
B.J. Worthy's picture

Alphucked.

Wed, 04/09/2014 - 16:27 | 4640659 Rand Mises Hayek
Rand Mises Hayek's picture

The FED Balance Sheet ??   Bawhahahhhwahaha

They own stocks, bonds, commodities - paid for with pixie dust.

They own us all.

Taper???  Taper??? (in a Jim Mora tone)

I guess we just take their word for it since we cannot see the balance sheet or audit the FED.

Taper - never happen

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