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

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.

Comments

[ItsDanger]

Can someone explain how this guy is still employed?  How could you be so wrong in the face of such an obvious downturn?  No wonder the world's finances are a mess.

[janus]

Mr. Briggs,

much respect, etc., ect....  and, since you're there in greenwich, tell ole paul tudor J that janus WILL be meeting him someday (and i suspect not too far on down the line); and that it would be in his best interest to arrange that meeting now, before janus steals ALL the cache -- leaving him too intimidated to form even the simplest of sentences.  janus does have a 'presence', don't make me bring the swagger of success along with it; as it will be a decidedly devistating experience for him.  actually, tell him i'll meet him in memphis...janus ALWAYS has a hankerin for hickory smoked pork butt! (Corkey's, Mr. Jones...you know!)

but, mr. biggs, janus knows what team you play for; that being the case...well, it's always best to let metaphor speak when words won't adequately crank the volume.  so, mr. briggs allow me to graphically drop the hammah a la cinema.

set up: Mr. Durden has just ravaged you, and, seeing how he has mercy, he's gonna let you just live or something (forgetting, it seems, that war is hell).  janus will have none of it!  and so i immediatly thought of the scene from american X where ed norton...well, pics say 1000 words --

http://www.youtube.com/watch?v=YV9Oj-vhLkE

yeah, igonre the tatts and whatnot...janus is taller with broader shoulders, too.  no racial or nazi proclivites either, but, all in all, not a bad emuation of ole janus (my victim did look a bit like notorious as well...huh).  so, you see, mr. biggs, the future is bleak for you 'bulls'.  which reminds me, i'd like to make a minor amendment to the dialog -- it should say, 'you've fucked with the wrong BEAR this time.'  even so, i suspect you get the 'picture'.

janus has this tingle -- and it's tellin him that ALL you boys are reading ZH.  furthermore, this lil tingle is tellin me that you're payin attention to lil ole janus.  and, yes, i already have firm confrmation that i am being read by some of those i'd hoped to reach.  good, i say; tis as it should be. 

should you be afraid of janus?  oh, quite.  very afraid, in fact.  you see, janus knows you will come back; for you cannot control the compulsion to see what comes next.  i am using the most ancient of methods to reach you and penetrate to the quick of your very soul.  these things were 'revived' in the late 20's and early 30's; and a derivation of them are in use today.  but it is a LAZY and sloppy form.  janus is a hard worker.

While i was still laughing my ass off at TD's sublime comedic display, i was sure i heard you make a most alarming freudian slip -- you called the father of austrian economics HEGEL not Hayek (even though 'fatherhood' is in such a case difficult to attribute).  some may put this down to the phonetic similarities among the names; janus knows bettah!  so, you've read hegel?  well, janus has read and fully confounded ALL heglian philosophy.  by virtue of this tiny slip, you've made yourself subject to me!  mwahahahaha!

actually, come to think of it, i believe i'll spread this out.  i have an open letter to Mr. Louis Lapham & Sen. George McGovern to write; and, frankly, they deserve a bit more attention than you money changers.

i'll leave you with an ole fashioned negrah spiritual, somethin you yankees need to just absorb -- don't fuckin think!!! let it MOVE through you; then, and only then, will you begin to approach "Light" (behold):

http://www.youtube.com/watch?v=SP5EfwBWgg0&feature=related

crank it UP!! you crusty ole cunts in greenwich.

let my people go!,

janus

[Peter K]

The best line: " I'm not a fan of the Austrian school..... I'm not a fan of creative destruction." He probably doesn't like the "creative" part:)