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Gundlach's Chart-Porn And Buy China, Sell US
Double-Line's Jeff Gundlach presented 66 pages of chart-pr0n covering everything from Government Spending to Consumer Spending; from eating-out costs to food inflation; from future economic growth slowdown indicators to housing recovery hopes and reality; and from foreign stocks to Treasuries, MBS, and metals. Between a lack of surprise if 10Y rates were 100bps higher by year-end; and his call to 'sell the S&P 500 against a long in the Shanghai Composite', there's a little here for everyone (and his funds are killing it).
What a difference 38 years makes...
and the US-China divide...
Full presentation below...
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spread em
And when ZH says "(and his funds are killing it)." they mean lagging the SPX by 12.7% YTD +++++ LOL!
http://quote.morningstar.com/fund/chart.aspx?t=DMLAX®ion=USA&culture=en-US&statePara=%7Bsecurities%3A%5B%7Bn%3A%22DoubleLine%20Multi-Asset%20Growth%20A%22%2Cids%3A%22F00000J71J%7C0P0000P5T4%7CCU%24%24%24%24%24USD%7C1%7C1%7CFO%7C2010-12-19%7C%7C%7Cfalse%7CUSA%7C16%22%7D%2C%7Bn%3A%22SPDR%20S%26P%20500%22%2Cids%3A%22FEUSA00001%7C0P00002D7X%7CCU%24%24%24%24%24USD%7C1%7C1%7CFE%7C1993-1-22%7C%7C%7Cfalse%7CUSA%7C16%22%7D%5D%2CchartType%3A%22GrowthChart%22%2Crange%3A%222012-1-2%7C2012-9-10%22%2Cperiod%3A5%2Cregion%3A%22USA%22%2Ctc%3A%22USD%22%2CisD%3A%220%22%2CisR%3A%220%22%2CrM%3A3%2Cscale%3A%221%22%2CbMenu%3A%22%22%2Csma%3A%220%2C0%2C0%22%7D
re the second chart: I thought they were supposed to decouple from us, not we from them. damn you gubbermint squid! Now I'm stuck with all these bric securities and they said it was a sure thing. :snark:
but.....but....i thought china was imploding???? what about the hard landing??????? and the coming riots over food????....and the sub 8%gdp foretelling disaster?????........but.....but..............how can he tell us to buy china????.....
Because his funds are "killing it".
Here. hold my beer an watch this..
Kito do me a favor and hold my silver while I go out to lunch. I know your good not to steal it.
lennon, your silver will be there when you get back, i just cant guarantee you will be the only owner of it..........................
Well I know you won't want it so if there is someone else hovering around I will see if they want to join our club.
why steal it when i can rehypothecate it?????
New mandate for the FED coming.
Baghdad Bob would blush if he saw these charts. Even he wouldnt have been so bold...
Buying farms is not on the fucking list, of course.
Not to worry; plenty of people will "buy the farm" before this crisis is over...
ZING! I lol'd.
I'm long hookers and coke. The rest is just background noise anyway.
<sarc>
Me Likey the Charts Tyler. Thanks :-) This China shit (RRR and Infrastructure building) is so over done. Ore prices are going to drop back down. They have mountains of "coking coal", and Harbors full of "Tankers full of shit" , because have no place to store the shit!
Also, mountains of copper sitting on pavement acquired not for legitimate industrial use but rather as collateral for loans and refinancings during the boom times. Didn't work out too well after people here started using housing stock as ATM's, so will see how that goes. Nonetheless, copper and iron both went on a rip on the "infrastructure building" rehash of what was several month's old news. Agree, overdone...or outright silly.
China will hurt more than the US when the real recession comes, just like the US suffered more than the UK in the 30's depression (the biggest net exporte hurts most)
Soros is giving as many interviews on TV as possible emphasizing China WILL have a hard landing. What's his angle other then, "China will have a hard landing?"
After all, isn't he the astrologer who predicted, "China will lead us out of this recession?"
Hey, is there a typical time that news like tomorrow's German Court ruling tend to come out? Or is it a be-aware-at-all-possible-moments-for-a-full-retard-spike-in-the-Euro-type-of-day?
Tomorrows German court ruling is due out @ 4:00 a.m. (est) , 8:00 a.m. (gmt). I would still be on guard for "full retard" spikes though... ;-)
I give up. Was this a pitch to buy this guys fund?
Yes, those eating out costs are killing me.
this is BUDGET research, not worth the paper its written on.
did gundlach fire his research team & hire his 16 yr old to put this presentation together?
guessing not so it begs the question ..are monkeys at this firm actually getting paid to rip bloomberg charts & copy paste them into a booklet .. nice work if you can get it.
oh btw gundlach .. im in research so if you need somebody to do a proper job next time im ready, willing and able .. my normal rate is roughly minimum wage with my shitty hours, but for you i'll do a special deal ~ $250k pa is fine (cause i can see your fucking desperate for help). if there are no roles available could you please advise on who you tapped for funds cause they must be the dumbest motherfuckers in the world to accept this sort of shit & pay for it.
look forward to hearing from u re a job (send me your details & ill email my cv gundy).
fruity
Jeff, If you want to bang my girlfriend shoot me an email.
This is the low down. Stocks/Indexes are 100% controlled by goverments/central bank flows (verbal bs or otherwise), that is moving prices and obviously up. This is the closet thing to what the poor eastern bloc Europeans had too deal with in the dying days of communism. Fixed prices, central planning asset supports. Now the flip-side is that central banks/china are also trying to play the game on both fronts. So they now attempt to engineer corrections. note: China's data dump (PMIs a week or so back to get the oil price down), unusual news flow that said their economy was doing cr*p. The iron ore price tanked but oil stayed bid. Which was amusing. The point?
The Fed may disappoint, otherwise Obama's re-election hopes could be dashed for real.
As for the Germans, the mind boggles that hey have allowed a crazed central banker run everything and hold them to ransom.