Icahn, Soros, Druckenmiller, And Now Zell: The Billionaires Are All Quietly Preparing For The Plunge

Tyler Durden's picture




 

"The stock market is at an all-time, but economic activity is not at an all-time," explains billionaire investor Sam Zell to CNBC this morning, adding that, "every company that's missed has missed on the revenue side, which is a reflection that there's a demand issue; and when you got a demand issue it's hard to imagine the stock market at an all-time high." Zell said he is being very cautious adding to stocks and cutting some positions because "I don't remember any time in my career where there have been as many wildcards floating out there that have the potential to be very significant and alter people's thinking." Zell also discussed his view on Obama's Fed encouraging disparity and on tax inversions, but concludes, rather ominously, "this is the first time I ever remember where having cash isn't such a terrible thing." Zell's calls should not be shocking following George Soros. Stan Druckenmiller, and Carl Icahn's warnings that there is trouble ahead.

 

Billionaire 1: Sam Zell

On Stocks and reality...

"People have no place else to put their money, and the stock market is getting more than its share. It's very likely that something has to give here."

 

"I don't remember any time in my career where there have been as many wildcards floating out there that have the potential to be very significant and alter people's thinking," he said. "If there's a change in confidence or some international event that changes the dynamics, people could in effect take a different position with reference to the market."

 

"It's almost every company that's missed has missed on the revenue side, which is a reflection that there's a demand issue," he said. "When you got a demand issue it's hard to imagine the stock market at an all-time high."

 

He also lamented about how difficult it is to call a market top. "If you're wrong on when, that's a problem." His answer: "You got to tiptoe ... and find the right balance."

 

"This is the first time I ever remember where having cash isn't such a terrible thing, despite the fact that interest rates are as low as they are," he added.

 

On Obama and inequality...

"Part of the impact of these very, very low interest rates is that we've creating this disparity. The wealthy are benefiting from government policy and the nonwealthy aren't," he continued. "So we have a president who says we've got to fight this disparity and we have a Fed who's encouraging it everyday."

On Tax Inversion...

"This is both legal and accepted. If the government doesn't like the result, change the law," he said. "You have to have a rational tax policy." He said the top tax rate should be changed and the U.S. should not tax worldwide income.

Zell also said it's unfortunate that "this inversion thing has been captured as a political, electioneering item."

Source: CNBC

* * *

Billionaire 2: George Soros

Soros has once again increased his total SPY Put to a new record high of $2.2 billion, or nearly double the previous all time high, and a whopping 17% of his total AUM.

*  *  *

Billionaire 3: Carl Icahn

Ironically, Carl Icahn - poster-child of the leveraged financial engineering that has overtaken US equity markets on the back of Central Bank largesse - told CNBC that he was "very nervous" about US equity markets. Reflecting on Yellen's apparent cluelessness of the consequences of her actions, and fearful of the build of derivative positions, Icahn says he's "worried" because if Yellen does not understand the end-game then "there's no argument - you have to worry about the excesssive printing of money!"

 

*  *  *

Billionaire 4: Stan Druckenmiller

Simply put, Druckenmiller concludes, rather ominously, "I am fearful that today our obsession with what will happen to markets and the economy in the near term is causing us to misjudge the accumulation of much greater long term risks to our economy."

*  *  *

And here the BIS explains broken markets so easily, even a Janet Yellen can get it:

Financial markets have been exuberant over the past year, [...] dancing mainly to the tune of central bank decisions. Volatility in equity, fixed income and foreign exchange markets has sagged to historical lows. Obviously, market participants are pricing in hardly any risks.

Growth has picked up, but long-term prospects are not that bright. Financial markets are euphoric, but progress in strengthening banks’ balance sheets has been uneven and private debt keeps growing. Macroeconomic policy has little room for manoeuvre to deal with any untoward surprises that might be sprung, including a normal recession.

*  *  *

So now we have a quorum of billionaires and the BIS all flashing warning signals which can only mean one thing: stocks are undervalued so buy, buy, buy...

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Wed, 09/03/2014 - 15:05 | 5176719 Divided States ...
Divided States of America's picture

Honestly do you trust any of these zionist sleazebags?

Wed, 09/03/2014 - 15:13 | 5176751 Groundhog Day
Groundhog Day's picture

yea they want to really protect me from losses.. i'll sell when they say it's time to buy

Wed, 09/03/2014 - 15:20 | 5176780 power steering
power steering's picture

Ho hum. Time for ebola update, They find that missing plane yet?

Wed, 09/03/2014 - 15:28 | 5176800 NoDebt
NoDebt's picture

"The Billionaires are all quiety preparing for the market drop"

"Soros has once again increased his total SPY Put to a new record high of $2.2 billion, or nearly double the previous all time high, and a whopping 17% of his total AUM."

Soros is the smartest of the bunch.  By which I mean he's more evil and more insane.  Qualities that are of benefit in today's markets.

 

Wed, 09/03/2014 - 15:37 | 5176842 Say What Again
Say What Again's picture

I would like to see Soros & Jamie D in a Yo Mama kind of a fight - but changed to ;"that's why I'm richer than you"

https://www.youtube.com/watch?v=_JU6WjJ9GXE

https://www.youtube.com/watch?v=6ikwrm3uYRk

 

Wed, 09/03/2014 - 15:41 | 5176869 NoDebt
NoDebt's picture

Jamie would lose.  Jamie works very effectively exploiting the system.  Soros creates the systems how he wants them.

Wed, 09/03/2014 - 16:10 | 5177011 Save_America1st
Save_America1st's picture

Funny....then CNBS puts out this article today mentioning Zell's video, but then they spin the article in a Bullish view saying there are fewer Bears today than before the crash in 1987. 

"At this juncture, both the intermediate and longer-term technical picture of the market remain bullish. Additionally, several of our short-term measures of market breadth have now 'reset' to neutral after the recent pullback," Piper's Craig W. Johnson and others said in the firm's weekly outlook. "We believe the stage is set for the broader market to make another leg higher."

What's a bunch of douchebags!  lol

Market bears now scarcer than any time since 1987

http://www.cnbc.com/id/101967860

 

Wed, 09/03/2014 - 22:25 | 5178216 Manthong
Manthong's picture

Oy Vay..

Ach du libier!

Wed, 09/03/2014 - 23:46 | 5178453 Elvis the Pelvis
Elvis the Pelvis's picture

I'm no genius.  But I can't see the DOW getting far above 17,000.  The markets have peaked.  So this is no big surprise.

Thu, 09/04/2014 - 02:04 | 5178695 chumbawamba
chumbawamba's picture

What the fuck breed of chimpanzee did that ugly fucker Zell devolve from?

And fuck you, "Elvis the Pelvis", you sad blog flogging nigger.

I am Chumbawamba.

Thu, 09/04/2014 - 03:18 | 5178761 COSMOS
COSMOS's picture

What did Yellen tell them at the last Manhattan synagogue luncheon that she will stop printing for a few months and then inform them on which month later in the year she would start again.

Thu, 09/04/2014 - 07:24 | 5178950 markmotive
markmotive's picture

US Treasuries then? The smartest kid in summer school?

http://www.planbeconomics.com/2014/09/otterwood-capital-management-bond-...

Thu, 09/04/2014 - 04:53 | 5178833 monkeyboy
monkeyboy's picture

What the fuck breed of chimpanzee did that ugly fucker Zell devolve from?

 

Hey take that back!

 

That's quite an offensive remark made against my chimp brothers. They look nothing like Zell. Well maybe a little bit.


Thu, 09/04/2014 - 08:09 | 5179069 theliberalliberal
theliberalliberal's picture

+1 blog flogger

Wed, 09/03/2014 - 16:15 | 5177037 Winston Churchill
Winston Churchill's picture

Soros has the same background that Robert Maxwell had.Selling people out to the nazis, then

gun trafficking after the war. One very nasty POS in other words.

A great shame he is not dead and disgraced like Maxwell.

Wed, 09/03/2014 - 16:20 | 5177057 Say What Again
Say What Again's picture

Do you have any reputable sources for this accusation, or is this just something your grandmother told you about when you visited her in the old-folks more?

Wed, 09/03/2014 - 16:26 | 5177078 Squid Viscous
Squid Viscous's picture

deplorable kikes, except for maybe Drunkenmiller, will research ASAP

Wed, 09/03/2014 - 16:50 | 5177172 J S Bach
J S Bach's picture

Wasn't Zell in "The Hobbit"?

Wed, 09/03/2014 - 19:43 | 5177702 Say What Again
Say What Again's picture

Judging by all the down-votes I received on the previous post when I asked for proof of their accusations, I must assume that some of the readers of this article would rather trash-talk than talk the truth.  That's OK with me, you can give me 999 down-votes, and I don't care.  They still have not submitted any proof to any of their slanderous and bigoted comments.  Its not that I'm trying to defend the subjects of the original post, because I don't know them well enough to have a strong opinion either way.  Its just that I care more about the truth than their opinion.

If you can get me to 90 down votes on this post, I will feel like I've made a good post.  I'm going to start by down-voting my own post.

Wed, 09/03/2014 - 20:01 | 5177747 Brutlstrudl
Brutlstrudl's picture

Behind every fortune is a crime.

Wed, 09/03/2014 - 20:28 | 5177828 Breezy47
Breezy47's picture

Do your own research Jules...you're not as bad ass as you think.

Wed, 09/03/2014 - 23:07 | 5178355 Say What Again
Say What Again's picture

Figure this one out

If you had ever made it past 6th grade, you would know that it is up to the author to cite their references.  That is if you're writing for anything other than the National Inquirer (or NYT).  And if you and the inbred trolls in the trailer park had any content that could prove your assertions, you would be posting it here 10 times or more.  But you have nothing to cite - and probably don't even know what "cite" means. 

Your move, gimp

Wed, 09/03/2014 - 23:26 | 5178408 Gold Eyed Cat
Gold Eyed Cat's picture

Soros' past is not a secret, Say What Again.  You seem to be the only person in the world who doesn't know it. You had the time to post douche-bag replies, but you didn't have the time to Google? Too lazy?

Steve Kroft of 60 Minutes asked him that. Was it difficult? “Not at all,” Soros answered.

“No feeling of guilt?” asked Kroft. “No,” said Soros. “There was no sense that I shouldn’t be there. If I wasn’t doing it, somebody else would be taking it away anyhow. Whether I was there or not. So I had no sense of guilt.”

A Nazi would steal the Jews’ property anyways. So why not him?

 

 

 

Thu, 09/04/2014 - 00:02 | 5178491 Say What Again
Say What Again's picture

Did you like this call Soros made about a bubble on May 6, 2008? 

http://www.cbsnews.com/news/george-soros-puts-the-bite-on-markets/

He was a few months early, but no one's perfect.

How about: Soros, the Man Who Cries Wolf, Now Is Warning of a 'Superbubble' - June 21, 2008

http://online.wsj.com/news/articles/SB121400427331093457

 

There - I have done some research for you, because you fail every time to supply any content from a reputable source.

Your problem is that you need to denigrate a successful market participant in a neurotic attempt to minimize your losses.

 

Thu, 09/04/2014 - 02:46 | 5178733 chumbawamba
chumbawamba's picture

Go fuck yourself, you Soros-fluffing fag.

I am Chumbawamba.

Thu, 09/04/2014 - 08:54 | 5179285 gold-is-not-dead
gold-is-not-dead's picture

He is a war criminal, not a succesfull business man.

Thu, 09/04/2014 - 07:46 | 5178985 Calmyourself
Calmyourself's picture

Say What Again, I will be watching your comments much more closely..

http://pjmedia.com/blog/george-soros-nazi-obsessive/3/

Ignorance is not bliss when calling out others for your own sins..

Thu, 09/04/2014 - 09:56 | 5179525 Gold Eyed Cat
Gold Eyed Cat's picture

Fine SWA, you are perfectly free to admire and respect George Soros if you want to.  But don't pretend that he didn't gladly help push his own people into the Nazi meat grinder so he could steal their gold wedding rings and silver spoons.  His grossly unethical business practices put him in the position he is today.  It is common knowledge.  And demanding people overlook his bloody past is asinine.  Also, screaming and crying for credible references to support well known facts is annoying. 

Soros is a war profiteer.  Water is wet.  The sky is blue.  Do I need to fucking cite credible references for you?

Thu, 09/04/2014 - 01:27 | 5178645 401K of Dooom
401K of Dooom's picture

And that is why the Third Reich came into power!

Thu, 09/04/2014 - 04:10 | 5178807 Manthong
Manthong's picture

Do you realize how hard it is to get a good picture of a black cat?

Everybody in my family has a cute little black pussy and we have no good pictures.

Thu, 09/04/2014 - 11:26 | 5180035 Breezy47
Breezy47's picture

Hey, I graduated from a top 10 Econ school with a whopping 2.6 GPA. As I may not be a genius like you *cough*, I'm smart enough to know Soros is a left of Lenin war criminal who is bent on taking down this country just like your boy obama. So go fuck yourself...

Wed, 09/03/2014 - 21:35 | 5178071 Penniless Spectator
Penniless Spectator's picture

I down voted you in solidarity.

Wed, 09/03/2014 - 23:14 | 5178363 Say What Again
Say What Again's picture

Thank you.  lets see how DOWN we can get on this.

And I'm up-voting you so things stay in balance.

Thu, 09/04/2014 - 20:00 | 5182531 UggSmash
UggSmash's picture

I, for one, appreciate your holding a standard of evidence, Say What Again. By the time I posted this, looks like 14 people agreed with me. 

Wed, 09/03/2014 - 19:07 | 5177632 CH1
CH1's picture

deplorable kikes

Tell your FedGuv paymasters that they are vile turds... and so are you.

Wed, 09/03/2014 - 23:01 | 5178317 Fred Hayek
Fred Hayek's picture

Well, you can get partial corroboration from this youtube clip in which Soros unintentionally diagnoses himself as at best a sociopath by saying how the year at the end of WW2 which he spent collecting assets of jews in Hungary for the nazis was the happiest time of his life. Wrap your mind around that one.

Most people would be overwhelmed by guilt or sadness at the tragedies they saw around them and the fact that they were working for the nazis. Soros says it was the happiest time of his life! He thought it was all exhilarating! But then, when you don't have the normal human capacity for empathy and emotion (when you're a sociopath) you might have that reaction.

https://www.youtube.com/watch?v=RZ2U6Rl98PM

Wed, 09/03/2014 - 16:27 | 5177084 Blues Traveler
Blues Traveler's picture

Y, soros eats babies and his philosphy is the end justifies the means.  Very nasty.

Wed, 09/03/2014 - 17:21 | 5177275 Oldrepublic
Oldrepublic's picture

Robert Maxwll, born Jan Ludvik Hyman Binyamin Hoch in pre-war Czechoslovakia, now Ukraine.Died in 1991 after falling off his private yacht off the the Canary islands. Interesting character to say the least!

Wed, 09/03/2014 - 17:52 | 5177345 knukles
knukles's picture

Odds on betting (as in inside word from those learned of such) is that Herr Maxwell did not die "mistakenly, accidentally, falling off his yacht" as many reported, but was given the "deep six" (no pun was intended, geeeesh) by MI5 once his financial and political machinations became just a bit too public.  In other words, you can get away with anything until you start trying to get away with anything when the public starts to see you trying to get away with anything.  Especially when one is an "insider" and as connected as Big Bob was... to everything and everybody.
No, that was as strikingly clear as some testimonies before the House of Commons that were changed at the last minute (by that "folks" from Barclays, overnight, if y'all remember)
Nuh uh.
T'was no accident.  He'd become one of the "Queen's problems", so to speak.
He "lost his head"

Wed, 09/03/2014 - 18:39 | 5177561 Occident Mortal
Occident Mortal's picture

MI5 is the British domestic intelligence unit. MI6 is the international intelligence arm.

Robert Maxwell was assassinated by neither.

He was killed by the SBS.

Maxwell made the mistake of openly stealing British pension funds and so the establishment (the power behind The Crown) had him murdered, and funnily nobody asked too many questions about it because the man was so widely despised.

The British establishment then crushed Maxwells sons in a bankruptcy hearing and wound up all of their assets.

The message was loud and clear and Soros and several other corporate raiders immediately fled Britian to reside in New York.

It doesn't matter who you are. Nobody is beyond the reach of certain world powers. If you get too cute you will disappear.

Thu, 09/04/2014 - 01:37 | 5178657 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Oh puhleeeez, these shadowy 'establishment' cunts don't exist.  Ha!  What next, gonna tell me they're so omnipotent they can off even a small-fry like me by zapping me through my keyboard?  Ha!  This talk is all such apocryphal nonsen

Thu, 09/04/2014 - 03:29 | 5178772 Occident Mortal
Occident Mortal's picture

So you're saying there's no such thing as the SBS?

 

http://www.royalnavy.mod.uk/our-organisation/the-fighting-arms/royal-mar...

 

 

Thu, 09/04/2014 - 04:18 | 5178810 Manthong
Manthong's picture

shit.. lol.. I got it.... aargh.

Wed, 09/03/2014 - 23:42 | 5178444 FreedomGuy
FreedomGuy's picture

What does Jon Corzine say? BTW, where is he (not in jail) and is he still rich?

Thu, 09/04/2014 - 01:22 | 5178639 markpower49
markpower49's picture

Corzine stole from goyim, so he's protected. Madoff stole from other Jews, so he'll die in prison.

Thu, 09/04/2014 - 01:37 | 5178661 FreedomGuy
FreedomGuy's picture

Madoff was also not a former governor and senator from the party of the State. Membership has it's advantages.

Thu, 09/04/2014 - 04:26 | 5178816 Manthong
Manthong's picture

Well.. Jon and Jamie are richer than you.

Even though one has an asshole for a mouth and the other one has an equally bacteria filled twat-face.

Thu, 09/04/2014 - 07:42 | 5178978 photonsoflight
photonsoflight's picture

When the value of the dollar equals zero then a billion zeros equals the few I have. hehehe

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