Notorious B.I.G.G.S. Flip Flops Again, Bottom-Ticks Market

Tyler Durden's picture

The last several times Barton Biggs was on TV we laughed, we cried, we laughed much more, but most importantly we faded every word out of his confused mouth with as much leverage as the CME would allow us (at last check margin requirements on Biggs Ultra Shorts had not been hiked in a while). After all could anyone top tick the market better than the Notorious BIGGS who on August third and fourth predicted a 7-9% rally in the S&P, only to realize a month later that he may have 99 (redemption) problem but a Biggs AUM ain't one. Even more conclusive proof that old people should take their RDA of geritol and Gingko Biloba came two short weeks later, when the same former Morgan Stanley (what is it about that bank and producing some of the worst asset pickers known to man?) strategist told Bloomberg "I don't see all the bad news that you keep citing." It then took him only a month to see preciseley all the bad news that Bloomberg keeps citing. According to a just released comedic appearance by Bloomberg TV, the BIGgster is now only 20% net long, down from 85% 6 months ago. Said otherwise redemptions are rolling in. The is further confirmed by his statements:  "I wish I was minus 20,” and so do your LPs. "I wish I was zero. I don’t think any place is a place to invest." The slurring continues: "I want to see an important stimulus program in the United States, combined with major reform in social security, Medicare and our defense budget. If we did that, we could have a 20 percent rally." Likewise, as much as we wish we had a magic stick made of gold to beat idiots on the head with, we don't. Which lead Bart-o to the following statement: "Markets are telling policy makers that they’ve got to change and act or we’re going to go into a double-dip recession, and we’re going to go down another 20 percent." Yes ladies and gents, the age old 100% guaranteed trade of fading old faithful means it is now time to go dodecatuple down all in the market and mortgage that 4th unborn generation: the direction has been called. In the meantime, to watch an old white man not quite hiphopping, but certainly quoting "old negro spirituals", watch the rest.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
speconomist's picture

Just discovered today that all these videos from Bloolberg are also available in Youtube, much better way to watch them.

There you have it:

http://www.youtube.com/watch?v=E-G-m8F7xvg

Tyler Durden's picture

"Embedding disabled by request"

speconomist's picture

Ok Tyler, just mentioning it.

The 8 seconds commercial with loud volume that auto-plays at the beggining always scares the shit out of me.

spiral_eyes's picture

The best description for these buffoons is "educated stupid"

timecube, bitchez. 

Yamaha's picture

This is what I look forward to in 20 years - ok,ok, I going to stop taking my medications so I can died of a heart attack!

Don Birnam's picture

All these Keynesians. So little sense.

I am more equal than others's picture

Hey Biggy is getting jiggy to make himself a piggy to get slaughter on his longs.

 

Bigg - the stock market doesn't cause or create a recession.  You frickin idiot.   The real cause is people stop buying stuff, buy less stuff, buy no stuff, buy only things they can eat.  What the stock market does has nothing to do with what people do - normal people.  Not banksters, Wall Street Con men, and terminally stupid but perpetually rich third/fourth or fifth generation money.  Gee, you'd think the Ivy school education would have taught you that. 

spekulatn's picture

Bigg - the stock market doesn't cause or create a recession.  You frickin idiot.   The real cause is people stop buying stuff, buy less stuff, buy no stuff, buy only things they can eat.  What the stock market does has nothing to do with what people do - normal people.  Not banksters, Wall Street Con men, and terminally stupid but perpetually rich third/fourth or fifth generation money.  Gee, you'd think the Ivy school education would have taught you that. 

 

 

The quote of the day for me.

Thanks for sharing I am more equal... !

Pool Shark's picture

 

 

Q: What does Barton Biggs' Greenwich apartment smell like?

A: Depends...

 

I am more equal than others's picture

Hey Biggy is getting jiggy to make himself a piggy to get slaughter on his longs.

 

Bigg - the stock market doesn't cause or create a recession.  You frickin idiot.   The real cause is people stop buying stuff, buy less stuff, buy no stuff, buy only things they can eat.  What the stock market does has nothing to do with what people do - normal people.  Not banksters, Wall Street Con men, and terminally stupid but perpetually rich third/fourth or fifth generation money.  Gee, you'd think the Ivy school education would have taught you that. 

Overpowered By Funk's picture

Play a sad trombone for David Bianco as well.

rocker's picture

How about Doug Kass.  Blasting that the market lows are in over and over again.

This is the same a-hole who said Gold was done going up at 1,600.00.  Gold has gone to 1,900.00 since.

And after Japan's melt down claimed that the low's were in and he's buying all in. The low's were not in. 

 

Don Birnam's picture

Speaking of "Dougie," Kass returned to Melissa Lee's shark tank at the "NASDAQ Marketsite" this afternoon ( via cell phone ), and reiterated his "bottom's in" call coupled with a reiteration of an S&P 2011 close of 1205.

Eighty-six points to go, Dougie.

oogs66's picture

I was happily short til I read this

buck4free's picture

My sentiments exactly. This is definitely a double-plus ungood indicator (for bears).

WonderDawg's picture

Depends on how you look at it. I think he's wrong temporarily, because after some further decline, I think we're going to have a nice little rally. Probably won't challenge the neckline of the recently broken H&S, but equities will bounce toward it. But then, then, my friends, get your puts for the next leg down. She's gonna be a doozy.

At least, that's how I'm playing it. Sitting out right now, waiting for a near term low, ride the rally back up a ways, then reverse and short that bitch for all I'm willing to gamble with. If I'm right, sometime next year I'll be retiring. If I'm wrong, I'll lose some but I won't get wiped out. Even Biggs gets it right once in a while. Nothing wrong with cash in this environment, so I'll be keeping some powder dry. And of course holding the shiny stuff.

Barb Dwire's picture

No Barton, we're laughing AT you...

Gubbmint Cheese's picture

what a stuttering asshat.

 

max2205's picture

Drudge might have called the bottom as well

Right.

YTD drops are terrifying BUT just look at the % stocks are up from 667

blunderdog's picture

He quoted negro music?

Panafrican Funktron Robot's picture

I lol'ed heartily at this as well.  WTF?

speconomist's picture

Gee, don't you get tired of spamming in the comments of every single article?

spiral_eyes's picture

Yeah it's not really spam because I only post when it's relevant to the topic under discussion.

If I've already written a full post detailing my view on something it's easier to post a link to where I've posted it than copy and paste the entire post.

I think about the only time I've ever posted something irrelevant is when I linked to a post about Groupon. But that day I was laughing my ass off the whole time about the dumbfuck analysts saying Groupon is the next Google or Cisco or Wal Mart or whatever. So I'd say that was a good excuse.

DosZap's picture

spiral_eyes @ 17:49,

IMHO, in a word yes.

Before the NWO can succeed, WE must be demolished.

We are well past that point, and are going to arrive there in due time.

Bank It.

spiral_eyes's picture

More than that deliberately pumping the economy up with QE and allowing it to then crash creates an opportunty to offer a manufactured solution — which I am sure will be very centralised, very authoritarian and very unfree. 

Which is why crooked shepherds like Biggs flourish — they serve a useful task, which is to mislead the flocks into the mud so that the global authoritarian solution — which otherwise would be resisted — is demanded.

(Perhaps if i had posted this commentary in my initial post I wouldn't be getting so many downvotes) 

mynhair's picture

I thought Biggs was old and white.  WTF?

Oh, he is.

TwelfthVulture's picture

And apparently he's partial to the negro spirituals.  Who woulda knew?

Justaman's picture

I thought Biggs was retired or fired for being wrong so often.

Oh, I guess not........yet.

iNull's picture

The Bigster wrote the ultimate millionaire's prepper manual a few years back. He's just not the world's greatest market timer. One more bounce into Oct, then it's the fire. Barton's stopped clock will be right, eventually.

fdisk's picture

Who is this crackhead? How possible he can run a hedge fund? You kidding me? Probably just laundering money off drug cartel operation, while flipping penny stocks to cover up the tracks :)))

mynhair's picture

Avoid this thread like the plague, after viewing.

Moron doesn't know gold, or anything else.  Now we are on the verge of a crisis?

sheeple2012's picture

Actually tried to read his book, gave up after about 20 pages of boring drivel

I am a Man I am Forty's picture

another senile old man that needs to retire along with:

Warren Buffett, Charlie Munger, JoPa.......

 

scatterbrains's picture

speaking of old dudes, what ever happened to Joe Granville ?

Diogenes's picture

I miss Harry Browne. I liked calling his followers the Harry Browne people. It made them sound like a bunch of Rastas.

Collapsed's picture

This place is just one of a kind...BY FAR the best site on the internet!  TD, I tuly appreciate what you have here

fdisk's picture

"Yes ladies and gents, the age old 100% guaranteed trade of fading old faithful means it is now time to go dodecatuple down all in the market and mortgage that 4th unborn generation: the direction has been called."

Did you just called GOLD 2200 and Silver $60 couple of days ago

now what? You directing people to short the f*king bottom?

Let it pop first at least, smartass, and then short..

Tyler Durden's picture

No. The thing "just called" was a crash in precious metals when Bernanke disappoints.

"It seems that Bernanke, if he wants the market to rally, is going to have to come out with a surprise next Wednesday." In other words, stocks are now pricing in not just OT 2, and a reduction in the IOER, but also an LSAP of a few hundred billion. There is, however, naturally a flipside, to Bernanke's priced in announcement: "If he doesn't, then expect a big selloff." In everything, mind you, stocks, bonds, and certainly precious metals."

Bernanke disappointed.

Also, just what part of "Bottom" ticking is confusing to you?

prophet's picture

Somehow I doubt he was disappointed. 

Do we get the lock limit up G-20 BINGO $11T intervention at this meeting or is this one just where they lay down the rules for the emergency action a little later on and simply test their flex this week?

fuu's picture

"only to realize a month later that he may have 99 (redemption) problem but a Biggs AUM ain't one."

 

Best line of the day.

fdisk's picture

Yeah, not sure what leads them to deliberately say such

harsh words, perhaps impact could be much harmless if

"significant

downside risk" could be rephrase to something mild..

Also there is disconnect in FED policies then. If they sees

"significant downside risk" as they state, why no appropriate

action

was taken? Usually Bernank overshoot to make sure.. Are they

getting scared of GOP letter.. Dunno.. It was like "F* YOU, crash

now, I don't care..", - Strange..

spiral_eyes's picture

Market pricing in — Bernanke ready to disappoint — global financial elite ready with new global currency to "save the day" and bring America under their control.