On "Intellectual Monocultures", Record Soybean Prices And Absolute Returns

Tyler Durden's picture

Back on March 7, 2011, when discussing the phenomenon of Zero Hedge, prominent tech blogger and recent Bloomberg paid content expansion Paul Kedrosky had this to say: "After prolonged exposure [to Zero Hedge] I have to turn off my wi-fi not to sell all my U.S. dollars for physical gold, start an anti–Goldman Sachs blog and buy a Kansas soybean farm protected by a moat. But here is the crazy thing: Zero Hedge — a morning zoo of pessimistic financial blogging — is fun. Granted, you (O.K., I) can't read it for long without the aforementioned soybean-farmer effect, but the downbeat site has found an entertaining niche at the intersection of The X-Files, finance and tireless anti–Goldman Sachs–ishness. So while I don't read Zero Hedge regularly — it's too bearish, too conspiratorial and too much of an intellectual monoculture — I like knowing that it exists." This is all poetically ironic. Because in the 15 months since this statement made the public record, gold has returned 13.24% (after hitting an all time record high) while Goldman has declined by 33.85%...


... But most entertaining is that moments ago soybean futures just hit an all time high, and are now up 36% since March 7, 2011.


Perhaps that Kansas soybean farm, with or without a moat, would not have been such a bad investment after all.

Then again, it is oftentimes wiser to urge the nouveau intelligentsia of the world to piggyback into the latest bandwagon of brilliance-cum-slam dunk investment such as Facebook. After all it is techy, it's growthy, and is full of sophisticated buzzwords.

As for this intellectual monoculture, we will stick with the 20%+ blended YoY, if too bearish and conspiratorial, thing.

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pbmatthews's picture

New crop November Soybeans about to break $17 in night session. Returns about to go much higher.

DeadFred's picture

Dang! No one told me I needed a moat around this place!

vast-dom's picture

plenty of status quo douchebags like Kedrosky out there; in fact, most of them are. 

LowProfile's picture

But clearly, THEY are not an intellectual monoculture...

NotApplicable's picture

Are we not men?
No, we are Zero.
Z - E - R - O


TruthInSunshine's picture

Bloomberg = A version of CNBC (aka The Clown Network & literal propaganda channel for the sell-side crew) that tries to project a slightly more serious image.


Michael Bloomberg is bullish on equities above and beyond all else because without a viable equity "markets" (sucking in and vaporizing "investment flow" from flyover country), New York City wouldn't have the ability to project an image of a successful city to the naive.

New York City & London = the ultimate black hole of  The Money Masters.

Long real assets, short confetti and the propagandist whore media rags like Bloomberg confetti is made from.



ReactionToClosedMinds's picture

just another useless personal opinion .. but methinks there is great potential in some B'berg (like there are really fine journalists at NYTimes - I truly believe that) ...but agree with you about B' berg.

And to think in a moment of weakness old Rupert the Red ( yes he was back in merry old Oxford days) went to B'berg for 'leadership' for WSJ ... ugh.  Bring back some of the old WSJ with the revamped digital WSJ Rupert has made possible .... that is my 2 cents


FEDbuster's picture

He forgot to add a few years of long term storage food and a couple good battle rifles with several thousand rounds of match grade ammo to his list of must haves. 

I think Kyle Bass could be the poster person for Zerohedge. In fact I would like to see him in a ZH t-shirt standing in front of his moat with his rural Texas retreat behind him, on top of a big stack of his gold bars, holding one of his sniper rifles.  Now that would make a great poster!  Maybe WB7 could make something up like that?

Muppet of the Universe's picture

Bloomberg commenting on Zerohedge's success is like "Stringer" from The Wire commenting on Marlow Standfield's recent success.

Michael's picture

Is it too much the congratulate me on my call on Zero Hedge many years ago on the complete and total worldwide economic collapse that I vehemently thanked God for every day on my knees because that's the only thing that will fix most of our problems?

Is it too much to say I was right and now that Alex Jones, Max Keisre, Gerald Celente, Reggie Middleton, et al are using the same words I spewed for years, "Complete" and "Total", in their conversations about the worldwide economic collapse?

And fuck you's all, I'm changing the rules and voting for the greater of a cunt hair's worth of evil difference between the two presidential candidates. I'm voting for that little bit more of greater evil. I'm voting for Barak Obama!

Romney invented Obama Care for crying out loud.

WeAreJellyfish's picture

How about you take what few dollars one has and vote on Gold or Silver?

Or how about taking you retirement and vote for a local business that has influence in your community?

Or is being a nagging slave to nameless and faceless icons of vaporized paper the best for you?

youngman's picture

I used to be in concert promotion----We did DEVO in Boulder at the Mackay Auditorium in their peak.....It was truely the funniest concert I have ever been to...or worked for that matter.....with the Boulder wackos and the Devo freaks..it just worked...very fnny indead

knukles's picture

I had to get a lot of shots for that once before.

NoClueSneaker's picture

No chance . Shyzophrenia or multiple PD makes everyone of them to an debate club, even when alone.

Price of embedding .

HaroldWang's picture

Kedrosky is a very smart, stand up guy. Don't put him in the "douchebag" category. Seriously, I've been around here a long time and it is incredibly bearish and there's always a doomsday around the corner. He acknowledges that and correctly states that those "doomsday predictions" haven't really come to fruition. 

I like this site, actually I love coming to this site. It has great information but it truly needs to be a bit more balanced. Not everything is an "end of the world/they're screwing you over event". 

I used to read Kedrosky daily as well until they somehow fucked up his blog format as to make it unreadable. Too bad.

Just my 2 cents.

Crisismode's picture

There is




as "balanced"

anwhere on the face of this planet.

Why should ZH even make a token effort to be "balanced"?


oldman's picture


Your two cents is made of gold---thanks for calling it what it is and this oldman is in complete agreement   om

ps:I will give myself a red mark to proudly start the parade since I am a day behind

aint no fortunate son's picture

Hopefully Kedrosky put his money where his ass was and took the other side of those trades, he being such a brilliant guy and all...

StychoKiller's picture

Tyler be testifyin', dey be hatin'! :>D

oldman's picture


Yeah, but

he was polite in his use of 'intellectual-monoculture' rather than 'gang of rednecks' or 'ignoramuses' or 'bunch of fucking fascists'.

I like the term 'intellectual-monoculture' as it is less personal and says the same thing. I will try to remember to use it during those troll nights on zh.

and also, vast, there is no reason to be so defensive----he was being polite and not personal      om

NotApplicable's picture

I gotta bluff, but no water below it this year.

Buckaroo Banzai's picture

In related news...boy does that roadkill t-shirts girl have huge jugs.

P.T.Bull's picture

You ain't a just whistlin dixie there, buck...

qmhedging's picture

WASHINGTON | Mon Aug 20, 2012 7:41pm EDT

(Reuters) - Sea ice in the Arctic Ocean is likely to shrink to a record small size sometime next week, and then keep on melting, a scientist at the U.S. National Snow and Ice Data Center said on Monday.

"A new daily record ... would be likely by the end of August," said Ted Scambos, lead scientist at the data center, which monitors ice in the Arctic and elsewhere. "Chances are it will cross the previous record while we're still in sea ice retreat."

The amount of sea ice in the Arctic is important because this region is a potent global weather-maker, sometimes characterized as the world's air conditioner. This year, the loss of sea ice in the Arctic has suggested a possible opening of the Northwest Passage north of Canada and Alaska and the Northern Sea Route by Europe and Siberia.

Dr Benway's picture

LOL. Mainstream media accusing Zero Hedge of being a monoculture...

It's like a used potty calling the kettle smelly


ZH tells the truth. All the other cocksuckerz just complain that they do.

Dr Benway's picture

And there will be less and less dissent going forward from MSM, so the ZH truth star is set to continue its rise.


Remember that post yesterday when an ex-marine got detained for posting violent rap lyrics on FB?


In Australia, people have been sentenced to JAIL for creating a FB page where users could rate sex-partners.





JPM Hater001's picture

I still want to sell zhtv.com advertising...please

knukles's picture

Jesus God, man.
Of course there's no outrage.
Oz is a land of passed out blackout drunks incapable of most social interaction except passing and blacking out.

Disenchanted's picture



I mean really, how can the Aussies rate a root not remembered?


JohnKozac's picture

Old Paradigm: Paul Kedropsky & peers (rhetoric and spin and biased opinions that lead to faulty knowledge)

New Paradigm: Zerohedge (information; i.e., statments of facts about the world, economy, etc. and opinions based on fact that results in knowledge)

James_Cole's picture

If they ever need ad copy, that's great stuff, "After prolonged exposure [to Zero Hedge] I have to turn off my wi-fi not to sell all my U.S. dollars for physical gold, start an anti–Goldman Sachs blog and buy a Kansas soybean farm protected by a moat." -  March 7, 2011

valkir's picture

I do not care about  GS.Aparently i do care about ZH scaning this site 30-40 times per day.If both disappear tomorrow,i hope wont be the same for my PM.

Kataphraktos's picture

I sold my US dollars for a Goldman Sachs blog, and planted physical gold in my Kansas soybean farm, which then burned down, fell over, and sank into the moat.

SafelyGraze's picture

no idea what that meant, but please .. more posts like that one

LetThemEatRand's picture

And what exactly is the counter-argument to anti-Goldman-Sachs-ishness?  Note to Kedrosky -- the fact that your nose knows the ass of the Sachs, does not qualify as a counter-argument.

hannah's picture

hey he left out 'shorting appl' for a 5000% loss....yes infinity losses...yea...!

LowProfile's picture


Not buying /= Shorting

CharlieSDT's picture

Today is the day I'm going to buy me some more puts in the perhaps fuitile hope that soon reality will poke her head in the door for a second.

Midas's picture

I don't remember any advice to short appl or actually anything, even facebook.  Have I missed something? 

Kina's picture

This is the mistake they make of course. If the real situation is poor then stating realty will seem as pessimisim.


Pesimist and optimist should be removed and assessments simply noted as realist.

P.T.Bull's picture

Only problem with the intellecual 'multi culture', which is keynsianism, is that it has no predictive value. Austrian, though, is a bit demoralizing--once one as the ability to accurately see his country's wealth looted while preparing itself for the historical inevitability of the worker's revolution.

disabledvet's picture

soybeans obviously represent an alternative to the "exorbitant privilege" of filling up your diesel tank for the day. Land is being cleared up in these here parts in dramatic fashion. This is land that has laid fallow for DECADES. Of course "winter fast approaches." All eyes on Brazil after that!

Dr. Engali's picture

So I guess what Paul is saying that Goldman is good for the world doing God's work for the people.

cbaba's picture

I read all financial blogs, web sites..

There is nothing like Zero Hedge, its unique, and addictive..

Thank you Tyler et al..You are Number One for me.