Biderman Makes Friends: "Bankers Are As Dumb As Politicians"

Tyler Durden's picture


In his usual quiet manner, TrimTabs CEO Charles Biderman unloads his emotional baggage along with USAWatchdog's Greg Hunter in this 15-minute interview. The sad truth is that, just like his alter-ego Lewis Black, Biderman is right - again and again. Whether it is reflecting on the kick-the-can mentality of polticians or US investor's apparent willingness to accept the  pulling-the-printing-press-over-our-eyes-behavior, or the fact that Europe can only get worse and how that will spread contagiously to the rest of the world (directly via trade or indirectly via risk-aversion), his focus on the facts (especially with regard to the real state of the US economy as he describes it) makes it hard to disagree for even the most vehement long-only manager (is it any wonder we don't see him on CNBC that much anymore?). Biderman and Hunter discuss the signs of growing inflation, the need to get rid of the deadwood bankers, Europe's imminent demise, central banks' 'funny money' creation, and the need for Gold and TIPs in any portfolio, Charles is at his best as he makes friends (except with the bankers and politicians that he scoffs at) and hopefully influences people.

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Wed, 05/02/2012 - 18:20 | 2392390 Muppet Pimp
Muppet Pimp's picture

Love the shirt CB!

Wed, 05/02/2012 - 18:49 | 2392440 evolutionx
evolutionx's picture

not CB --- >ECB Fear Indicator near record level

Banks deposited 793 billion with the ECB

Wed, 05/02/2012 - 20:10 | 2392568 DeadFred
DeadFred's picture

He sounds like the same Biderman but why the change in viewpoints? Angel Island isn't as good as Alcatraz and the Bay Bridge IMHO.

Thu, 05/03/2012 - 05:29 | 2393177 VonManstein
VonManstein's picture

how on earth is the US better of than Europe? doesnt the Euro regions have creditor nations within it.. i mean.. the US is the biggest game over on the planet.. and this get germany fighting with russia and china stuff what the fucks that about. what a plum why would anyone want that. germany is more lickely to snuggle up to russia and turns its back on the filth scumbag anglo american system.

fucking biderman the plum wants war between russia china and germany.. sounds like angloamerican banker centric talk to me.

and TIPS? who the fuck wants TIPS?

Wed, 05/02/2012 - 18:38 | 2392412 Yen Cross
Yen Cross's picture

 Sell in May is " alive and well"! I had my own Mother liquidate 20% of her AAPL holdings after the COT reports on April 24th.

  I like that MFST and Qcom trade idea!


Biderman Makes Friends: "Bankers Are As Dumb As Politicians"

Wed, 05/02/2012 - 18:39 | 2392418 Alea Iactaest
Alea Iactaest's picture

Really? You're telling us there's a "need for ... TIPs in any portfolio"? TIPS are brought to you, with interest paid, by the same entity that defines the rate of inflation. Not only that, this same group of philanthropists wil tax the interest payments, returning that portion to themselves, thereby assuring that you will lose money on each and every one you buy. No thanks.


With that little rant out of the way I can tell you I'm still a big fan.

Wed, 05/02/2012 - 19:14 | 2392479 Pladizow
Pladizow's picture

Yeah, I too dont understand his TIP call, especially after all his videos where he rants about the BS that comes out of the BLS!

Wed, 05/02/2012 - 19:45 | 2392529 ReactionToClose...
ReactionToClosedMinds's picture

concur .. there is an incongruity (sorry for the fancy word but that seems to capture the feeling best) to the TIPs point considering his recent gov't statistical abhorrence.  THere is the 'statistics' risk and then there is the 'paper' issue also .. and then throw in 'agency' risk ala some intermediary who may or may not ba around ala Lehman and Bear to 'cash-in' your TIPS

Wed, 05/02/2012 - 20:24 | 2392580 buzzsaw99
buzzsaw99's picture

TIPS are a scam.

Wed, 05/02/2012 - 18:39 | 2392423 ReactionToClose...
ReactionToClosedMinds's picture

Quote by Mr TrimTabs:   re;banker's & pols:  "They are stupid enough to hang together and die together" ...funny

Wed, 05/02/2012 - 18:46 | 2392430 ReactionToClose...
ReactionToClosedMinds's picture

... and when the paddy wagon comes ... it takes all the girls ... good, bad or indifferent. (why also shorting emerging mkts)



[I shouldn't laugh too hard ... still long some select emerging markets their growth & balance sheets are real versus 'west' adn they remember this crisis-Fall 2008 was brought to you by the 'blue eyes']

Wed, 05/02/2012 - 18:50 | 2392444 ReactionToClose...
ReactionToClosedMinds's picture

and let the Germans, Russians & Chinese fight each other ..... lol

Wed, 05/02/2012 - 23:10 | 2392880 meimei
meimei's picture

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Wed, 05/02/2012 - 18:42 | 2392428 I am Jobe
I am Jobe's picture

Must be the new attire in the making Charles. Wow, did you choose it yourself?

Wed, 05/02/2012 - 18:46 | 2392432 FinalCollapse
FinalCollapse's picture

Chop the deadwood. End the FED.

Wed, 05/02/2012 - 21:53 | 2392766 Atomizer
Atomizer's picture

Oh my! Another one who can see thru an institution creating counterfeit money and charging interest on money borrowed. The insider joke, they have no collateral to cover the printed money issued into the system. Do you know the model they use? New births who engage by signing Social Security rights as a future laborer. Those inbound tax calculations equate to future government revenues.


They know they’re upside down. This is why Obama Care was to become a Band-Aid in replacing stolen monies from the trust fund. Don’t take my word of caution, just watch the panic unfold next month. :>)


Wed, 05/02/2012 - 18:48 | 2392438 carbonmutant
carbonmutant's picture

Birds of a feather tend to flock...

Wed, 05/02/2012 - 18:50 | 2392442 Bay of Pigs
Bay of Pigs's picture

Hunter: "So when the money printing stops you see stocks getting cut in half?"

Biderman: "Yeah...or when people stop willing to believe that the money printing is good"

And there you have it.

Wed, 05/02/2012 - 19:06 | 2392446 Pretorian
Pretorian's picture

He is off serious medicine and now running only pot. 


Wed, 05/02/2012 - 18:55 | 2392453 l1b3rty
l1b3rty's picture

psh...bankers are not dumb.

Wed, 05/02/2012 - 18:58 | 2392456 ReactionToClose...
ReactionToClosedMinds's picture

great ZH (substance along with some blunt spoken laughs) .... always knew Mr TrimTabs was plain spoken ... but the guy has a real flair for diplomacy ... gotta like Chas Biderman

Wed, 05/02/2012 - 18:58 | 2392457 kalasend
kalasend's picture

Thumb up if you love TrimTab's offive view - Sausalito, CA

Wed, 05/02/2012 - 19:19 | 2392483 ExploitTheMarket
ExploitTheMarket's picture

Love the Sausalito Sandman....

Wed, 05/02/2012 - 19:24 | 2392490 FinalCollapse
FinalCollapse's picture

'Big banks run by dumb people are dangerous..'. Classic! Good to see that there are still smart people left in the Bay Area.

Wed, 05/02/2012 - 19:27 | 2392498 CoolBeans
CoolBeans's picture

Well, they are in bed together, after all...

Wed, 05/02/2012 - 19:35 | 2392501 rjiver33
rjiver33's picture

How come Peter Schiff isnt quoted here? He's been on the ball for 6 years now.  

Peter Schiff / Biderman (2006):

Wed, 05/02/2012 - 19:40 | 2392519 fonzannoon
fonzannoon's picture

Awesome find. Thumbs up tp you rjiver

Wed, 05/02/2012 - 19:58 | 2392551 GenXer
GenXer's picture

So Biderman decided it was more profitable to switch his business model to cater to the bearish market?

You can't judge a guy from one very short interview, but it certainly appears that he was quite happy with the status quo in 2006.

I actually quite enjoy Bidermans videos.

Wed, 05/02/2012 - 20:17 | 2392577 fonzannoon
fonzannoon's picture

I hear Schiff complaining sometimes that most of the guys that espouse his viewpoints now are the same ones who laughed at him years ago, This seems like a great example.

Thu, 05/03/2012 - 07:46 | 2393270 TWSceptic
TWSceptic's picture

Good example of 'if you can't beat them, join them'. I suspect many will follow when the real crash comes...

Wed, 05/02/2012 - 19:35 | 2392510 Winston Smith 2009
Winston Smith 2009's picture

Banksters are FAR from dumb.  Since the general public is generally ignorant and since the banksters know they own the pols (who ARE stupid), they know they can get anything they want from the taxpayer trough until there's nothing left to steal at which point they'll retire to their private islands or gated communities to avoid the riots.  Heads they win, tails everyone else loses.

Wed, 05/02/2012 - 19:41 | 2392520 ReactionToClose...
ReactionToClosedMinds's picture

wouldn't we all 'make' that bet?  heads I win tails you lose .....

Wed, 05/02/2012 - 19:46 | 2392530 Winston Smith 2009
Winston Smith 2009's picture

Many of us aren't thieves.

Wed, 05/02/2012 - 19:53 | 2392540 navy62802
navy62802's picture

Biderman fucking rules! Discuss some great macro insights, smoke a joint, do an interview. Love this guy.

Wed, 05/02/2012 - 22:13 | 2392803 Amish Hacker
Amish Hacker's picture

The Lewis Black of asset management.

Wed, 05/02/2012 - 19:53 | 2392541 Yen Cross
Yen Cross's picture

 For any newbees<  TIPS ( treasury inflation protected securites)  I'm not sure the last sentence of the post is applicable though?

Wed, 05/02/2012 - 22:40 | 2392573 tom a taxpayer
tom a taxpayer's picture

This is some of Biderman's Best!

 Hunter: "Ah, shorting the emerging markets." 

Biderman: "Well I really think that the markets are vulnerable and are going to go down over the near term, maybe not this week,  but when the paddy wagon comes, it  takes all the girls...good, bad, and indifferent."


Wed, 05/02/2012 - 20:25 | 2392581 fonzannoon
fonzannoon's picture

That video posted by rjiver really wrecks biderman in my mind. Unless someone else has a post from him where he has admitted he was completely incorrect before he started singing a different tune he is just another putz to me now.

Wed, 05/02/2012 - 21:26 | 2392703 Atomizer
Atomizer's picture



Not to trash Tyler's thread but, you should see today's piece. 

Just for point of interest

Mike Maloney Walks the walk


Wed, 05/02/2012 - 21:49 | 2392756 RafterManFMJ
RafterManFMJ's picture

Bankers are as dumb as politicians? Really? Ok, if this is so, why is it that the bankers have all the money, that they then dribble out to politicians, who then suck on Bankster knob as if their very life depended on it?

Thu, 05/03/2012 - 06:02 | 2393200 cnhedge
cnhedge's picture

US Daily: 2012 US April Payroll Preview: Sluggish

Thu, 05/03/2012 - 06:16 | 2393205 savagegoose
savagegoose's picture

yeah i got a TIP, buy physical bitches

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