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Chart of The Day: Do Buy Dubai

Tyler Durden's picture




 

Presented with little comment aside to remind those momentum junkies about to pile in to this surely-fundamental-driven rally (and best-performing stock market in the world in 2014) that a "blank check" Dubai IPO was recently oversubscribed by 36x.

 

 

Of course - we've never seen anything like this before in Do-Buy!!

Chart: Bloomberg, h/t @investir_ch

 

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Tue, 05/06/2014 - 12:46 | 4732279 Dr. Engali
Dr. Engali's picture

 It's different this time. I just know it.

Tue, 05/06/2014 - 12:47 | 4732291 Soul Glow
Soul Glow's picture

That's what AIG said.

Tue, 05/06/2014 - 13:32 | 4732499 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

....and Enron.

Tue, 05/06/2014 - 17:47 | 4733731 Groundhog Day
Groundhog Day's picture

....and worldcom

Tue, 05/06/2014 - 12:48 | 4732295 Pinto Currency
Pinto Currency's picture

 

The Kuwait camel market is back:

http://www.thebubblebubble.com/souk-al-manakh/

Tue, 05/06/2014 - 12:59 | 4732355 Spitzer
Spitzer's picture

These cocksuckers are sure good at containing it into asset inflation instead of real inflation.

Tue, 05/06/2014 - 13:03 | 4732372 Soul Glow
Soul Glow's picture

Gas is $4.50 here, a beer is $4, and a hamburger at the bar is $11.  If that isn't real what is?

Tue, 05/06/2014 - 17:49 | 4733738 Groundhog Day
Groundhog Day's picture

Beer $4? thats a bargain in the tristate...it range from 5-10 depending on the location and time of day

Tue, 05/06/2014 - 20:21 | 4734219 shitco.in
shitco.in's picture

More like $7-12. 

Burgers are $15-25

Tue, 05/06/2014 - 13:04 | 4732377 walküre
walküre's picture

Seems their appetite is not for sheep right now. They only slaughter pigs.

Tue, 05/06/2014 - 13:05 | 4732381 Pinto Currency
Pinto Currency's picture

 

Watch palladium and platinum over the next few months as they go live.

Will be a real asset inflation show.

Tue, 05/06/2014 - 12:45 | 4732280 Soul Glow
Soul Glow's picture

Red Tuesdays are the best Tuesdays!

Tue, 05/06/2014 - 12:50 | 4732289 Dr. Engali
Dr. Engali's picture

Ruby Tuesdays.

Tue, 05/06/2014 - 12:47 | 4732290 thamnosma
thamnosma's picture

Gotta admit, that's some kind of market performance.  I wonder which favored entities and persons were given the word in January 2013.....

Tue, 05/06/2014 - 12:50 | 4732304 Soul Glow
Soul Glow's picture

Ben Bernanke.

Tue, 05/06/2014 - 12:59 | 4732344 CPL
CPL's picture

No one anyone here knows.

Tue, 05/06/2014 - 12:50 | 4732306 CEOoftheSOFA
CEOoftheSOFA's picture

I've been to Dubai about 6 times. Every time I go there the hotel is about 10% occupied.  There are hardly any lights on in apartment buildings.  There are no office buildings in downtown - only hotels and apartments.  It's a ghost town.  There is a good BBQ restaurant across the street from the beach, though.  

Tue, 05/06/2014 - 13:02 | 4732366 thamnosma
thamnosma's picture

Seems like it's just a money laundering place and a secondary escape hatch for the region's rich.

Tue, 05/06/2014 - 13:06 | 4732386 walküre
walküre's picture

Why don't the damn sheiks invest their stupid oil wealth into something that could really make a difference.

How does the saying go? The camel jockeys can leave the desert, but the sand doesn't leave their brains?

Tue, 05/06/2014 - 13:19 | 4732429 Herd Redirectio...
Herd Redirection Committee's picture

4 generations - Camels, Cars, Jets, Camels.

That was the best one I've heard.

Tue, 05/06/2014 - 13:41 | 4732538 tarsubil
tarsubil's picture

It is for the best. You can't molest a car or jet.

Tue, 05/06/2014 - 13:46 | 4732558 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Say what? I'll show you how to molest a car or jet.

Tue, 05/06/2014 - 17:13 | 4733590 tarsubil
tarsubil's picture

Okay. Do you know how to post on youtube?

Tue, 05/06/2014 - 13:56 | 4732562 thunderchief
thunderchief's picture

25-40% vacancy in certain places is more accurate, with real estate shooting up a good 40%. Some places 100% occupied.

It is hard to put your thumb down on a place you can walk into with a suitcase full of cash, no questions asked.

That is why you have this chart. That is why Wall Street would love Dubai.

Could you expect less from these crooks?

Tue, 05/06/2014 - 14:25 | 4732749 walküre
walküre's picture

Who doesn't love suckers with suitcases full of cash, not knowing where to stuff the cash anymore and looking for anything to buy that they don't have already?

We just need to send all of our snake oil salesmen over there. They'd have a field day and we would get rid of them.

#winning

Tue, 05/06/2014 - 12:51 | 4732308 CEOoftheSOFA
CEOoftheSOFA's picture

I've been to Dubai about 6 times. Every time I go there the hotel is about 10% occupied.  There are hardly any lights on in apartment buildings.  There are no office buildings in downtown - only hotels and apartments.  It's a ghost town.  There is a good BBQ restaurant across the street from the beach, though.  

Tue, 05/06/2014 - 13:02 | 4732370 CPL
CPL's picture

'My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel'.

- Sheikh Rashid Bin Saeed Al Maktoum

 

and it's almost Camel time.

Tue, 05/06/2014 - 12:55 | 4732328 LawsofPhysics
LawsofPhysics's picture

Our ponzi is way better than your ponzi...

Tue, 05/06/2014 - 13:00 | 4732336 Mercury
Mercury's picture

At the end of the day the sovereign of Dubai owns every grain of sand within the country's borders.

So, discount accordingly.

Tue, 05/06/2014 - 12:59 | 4732346 larz
larz's picture

Ben bin printing al Benanke

Tue, 05/06/2014 - 13:02 | 4732369 scuttlebutt
scuttlebutt's picture

As classic as it gets.

A blow off top.

Tue, 05/06/2014 - 13:04 | 4732378 Soul Glow
Soul Glow's picture

And it only got back to 2008 prices.

Tue, 05/06/2014 - 13:06 | 4732385 NAP
NAP's picture

do buy Dubai doo

Tue, 05/06/2014 - 13:08 | 4732393 Yen Cross
Yen Cross's picture

     A new legion of suckers has been brought forth...

Tue, 05/06/2014 - 13:24 | 4732456 Bunga Bunga
Bunga Bunga's picture

Bullish. Target is 24,000.

Wed, 05/07/2014 - 02:25 | 4735070 Youri Carma
Youri Carma's picture

Dubai in fact went Bankrupt back in November 2008 sources now confirm http://forum.prisonplanet.com/index.php?topic=83739.0

Do NOT follow this link or you will be banned from the site!