"Davos" is a synonym for that arrogance. Every year that conference of the hegemonic classes and their bureaucratic allies makes me want to puke. The media go there to talk to the billionaires and others in the Ruling Classes and go goo-goo eyes, butt-kissing them endlessly about their wealth and power ... and "ideas". I just heard some Ruling Class puke talk about signing deals. Sheesh, at least he was honest and didn't give us the regurgitated lies that most of them do. Today again I reprise thoughts about "Davos" from prior years post around this time of year.
[from 1/29/2009 post of same title, numbered II.] “Davos" is the epitome of that syndrome. Rich and powerful people meet in a resort to discuss the "world economy", viz., how they can control the common man and bend him to their wishes. Is increasing human freedom a pillar of their goals ? ... No. Is increasing human culture and knowledge a goal ? ... No. They network among each other to exchange thinking on how to maintain and increase their control over ... the rest of us. Every year Davos makes me want to puke.
So is Davos about actually helping people .. or is it about using and creating fear and grabbing power so "they" can become new Dukes & Barons ? I think it's a bit of both, but the well-meaning fools seeking the former are being used as cover by those knaves seeking the latter. Are restrictions on the rich and powerful a subject at Davos ? What about regulation of hedge funds ? If they want to discuss how to control themselves, fine, that's an admirable topic. Otherwise, they should shut up and leave us alone.
[from 1/25/2008 post regarding "Changing Capitalism" and Davos] The system of freedom and private property works superbly, but the tendency for excess accumulations of wealth and power by a few needs to be somehow properly directed - social pressure would be best - and their tendencies to create aristocracies stopped. And their raiding parties need to be squashed.
For example, what philanthropist funds artists or mathematicians or writers or philosophers to increase human knowledge ? Mostly they pay big $ to museums to buy old masters or build new wings. Nothing new is created. Davos is full of them - those wanting a big monument to themselves. A few do good things to increase human knowledge. But just a few.
For example, a program to teach young children foreign languages would be incredibly valuable. The young can learn languages so easily. But is that done ? No.
I again reproduce the quote from Thucydides that sparked my thinking on this matter - I first read it referenced in Erasmus' "Praise of Folly". The quote is from the famous oration of Pericles."We cultivate refinement without extravagance and knowledge without effeminacy; wealth we employ more for use than for show, and place the real disgrace of poverty not in owning to the fact but in declining the struggle against it."
Unfortunately, too much wealth has been used to buy estates in the Hamptons or invested in hedge fund speculations. And not enough has been productively invested or used to increase human knowledge. That is the real problem.
[from 1/24/2007 post re Davos] Davos is a bunch a rich and / or powerful people trying to get richer & more powerful, colluding to push people around and suck more money and resources from them, like a bunch a leeches. Somehow the so-called solutions always have more powerful governments and bureaucracies. There are exceptions, but they are few.
Word of the Day
"Vitriolic" - adjective [$10]
Vitriolic means 1. something felt to resemble vitriol (sulfate of various metals) esp. in caustic quality; 2. esp. virulence of feeling or speech.
Sentence: Every year Davos causes me to post vitriolic writings about that wretched hive of scum and villainy. There! I did it again!
Showing posts with label Davos. Show all posts
Showing posts with label Davos. Show all posts
Wednesday, January 26, 2011
Wednesday, January 27, 2010
Vomitous*
That adjective perfectly fits the Davos World Economic Forum. I'm listening to interviews of some of its participants on Blabberg this morning. Such blather ! These certified members of the ruling classes [aka the rich & powerful] don't know anything about fields beyond their own expertise or nor anything about the lives and difficulties of the common man, yet pontificate about how the world should be run and how the lives of the common man should be ruled. By who ? Them.
They blab about bubbles. What is the one bubble rarely mentioned ? The huge flow of money from the rich to hedge funds that play trading games and disturb real economic funds flows. Do they discuss how to burst that bubble ? Nope. Why ? Because most of the participants invest in hedge funds. Or run hedge funds. Or their pals runs hedge funds.
What is the single biggest risk in the world financial markets ? Credit default swaps. ["CDS"] Those "weapons of mass destruction" permit hedge funds to speculate cheaply in the credit of many, many corporations and nations. Those also create dangerous interconnections among financial institutions that can drag the entire system down if a single large institution messes up. Who is talking about banning those ? Few. There's moi [me] and David Einhorn, the fellow who correctly analysed and anticipated the Lehman debacle. Maybe Warrren Buffet. Why ? The ruling classes like the turmoil and their hedge fund investments make money for them. AIG was a credit default swap blow-up. That should be enough to make one realize those instruments should be banned. (I'd settle for requiring 100% cash collateral for anyone writing a CDS).
Turmoil gives the ruling classes power. That's how many aristocracies were created in medieval times. The common man was forced to become a serf to buy "protection" from armed, wealthy tribal chiefs because of fear of raids and assaults. Over time, those aristocracies then gained more and more powerful from the central government and eventually destroyed the nations.
Today the lobbyists of the ruling classes are working hard in DC and the capitals of Europe to get more power over our lives and perpetuate their positions. Davos is one place they coordinate ideas and tactics. That place should be seeing huge demonstrations from the angry public. Instead, the press fawns over their access to the bosses. It's sickening and I annually, publicly rant about how I despise that forum.
Davos is strictly for the vomitorium.
Lending
Blabberg says banks aren't lending. True. But those airheads don't think why. Banks prefer to speculate or own in securities. That's where the money is going. Why ? Because their trading desks can make money AND because the regulatory rules favor securities. If a bank had to put up more Tier 1 capital to own securities - which would help underwrite the huge market value risks in them - they would shift assets towards loans they can manage better.
Of course, governments like banks to buy their debt .. as securities. Sheesh, soooo much of public comment is sheer propaganda, it's infuriating at times.
Bernanke
I support his confirmation. Battleship Ben was one crucial force in preventing a global depression. True, he was a bit slow, as readers of this blog know. But like big, slow battleships, once his salvos got going, he crushed the forces of darkness.
Besides, since he's been doing what I write for about 2.5 years, how can I complain ? He's obviously a loyal reader now ;-)
Markets
Back to my old, seven language state:
Je ne fais rien.
Ich machte nichts.
Nic nie robię.
Estoy haciendo nada.
Non faccio nulla.
Nihil facio.
I am doing nothing.
Word of the Day
"Vomitous" - adjective [$100]
Vomitous means 1. of, pertaining to, or causing vomiting; 2. (informal) repugnant, disgusting, nauseating [e. g. vomitous business methods].
Sentence: Annually viewers of the financial media are subjected to vomitous reports from Davos, as the fawning press propagates the propaganda of the ruling classes as they seek more power over the common man.
They blab about bubbles. What is the one bubble rarely mentioned ? The huge flow of money from the rich to hedge funds that play trading games and disturb real economic funds flows. Do they discuss how to burst that bubble ? Nope. Why ? Because most of the participants invest in hedge funds. Or run hedge funds. Or their pals runs hedge funds.
What is the single biggest risk in the world financial markets ? Credit default swaps. ["CDS"] Those "weapons of mass destruction" permit hedge funds to speculate cheaply in the credit of many, many corporations and nations. Those also create dangerous interconnections among financial institutions that can drag the entire system down if a single large institution messes up. Who is talking about banning those ? Few. There's moi [me] and David Einhorn, the fellow who correctly analysed and anticipated the Lehman debacle. Maybe Warrren Buffet. Why ? The ruling classes like the turmoil and their hedge fund investments make money for them. AIG was a credit default swap blow-up. That should be enough to make one realize those instruments should be banned. (I'd settle for requiring 100% cash collateral for anyone writing a CDS).
Turmoil gives the ruling classes power. That's how many aristocracies were created in medieval times. The common man was forced to become a serf to buy "protection" from armed, wealthy tribal chiefs because of fear of raids and assaults. Over time, those aristocracies then gained more and more powerful from the central government and eventually destroyed the nations.
Today the lobbyists of the ruling classes are working hard in DC and the capitals of Europe to get more power over our lives and perpetuate their positions. Davos is one place they coordinate ideas and tactics. That place should be seeing huge demonstrations from the angry public. Instead, the press fawns over their access to the bosses. It's sickening and I annually, publicly rant about how I despise that forum.
Davos is strictly for the vomitorium.
Lending
Blabberg says banks aren't lending. True. But those airheads don't think why. Banks prefer to speculate or own in securities. That's where the money is going. Why ? Because their trading desks can make money AND because the regulatory rules favor securities. If a bank had to put up more Tier 1 capital to own securities - which would help underwrite the huge market value risks in them - they would shift assets towards loans they can manage better.
Of course, governments like banks to buy their debt .. as securities. Sheesh, soooo much of public comment is sheer propaganda, it's infuriating at times.
Bernanke
I support his confirmation. Battleship Ben was one crucial force in preventing a global depression. True, he was a bit slow, as readers of this blog know. But like big, slow battleships, once his salvos got going, he crushed the forces of darkness.
Besides, since he's been doing what I write for about 2.5 years, how can I complain ? He's obviously a loyal reader now ;-)
Markets
Back to my old, seven language state:
Je ne fais rien.
Ich machte nichts.
Nic nie robię.
Estoy haciendo nada.
Non faccio nulla.
Nihil facio.
I am doing nothing.
Word of the Day
"Vomitous" - adjective [$100]
Vomitous means 1. of, pertaining to, or causing vomiting; 2. (informal) repugnant, disgusting, nauseating [e. g. vomitous business methods].
Sentence: Annually viewers of the financial media are subjected to vomitous reports from Davos, as the fawning press propagates the propaganda of the ruling classes as they seek more power over the common man.
Thursday, January 29, 2009
More Davos Crap
It's endless on Babblevision and Blabberg. Davos drivel. I wonder why the snow doesn't melt with all that hot air being pumped out ?
Yesterday the Chinese leader, Wen, and the Russian leader, Putin, lectured the US and criticised the western system. Uh ... those are the leaders of two corrupt gangocracies. That's like Al Capone lecturing Roosevelt on how to run a nation. Or Carlo Gambino lecturing John Kennedy. Sheesh. I suppose one should just politely ignore them, but "stuff it" comes more to mind.
The system of freedom and private property works superbly, but the tendency for excess accumulations of wealth and power by a few needs to be somehow properly directed - social pressure would be best - and their tendencies to create aristocracies stopped. And their raiding parties need to be squashed.
For example, what philanthropist funds artists or mathematicians or writers or philosophers to increase human knowledge ? Mostly they pay big $ to museums to buy old masters or build new wings. Nothing new is created. Davos is full of them - those wanting a big monument to themselves. A few do good things to increase human knowledge. But just a few.
For example, a program to teach young children foreign languages would be incredibly valuable. The young can learn languages so easily. But is that done ? No.
I again reproduce the quote from Thucydides that sparked my thinking on this matter - I first read it referenced in Erasmus' "Praise of Folly". The quote is from the famous oration of Pericles.
"We cultivate refinement without extravagance and knowledge without effeminacy; wealth we employ more for use than for show, and place the real disgrace of poverty not in owning to the fact but in declining the struggle against it."
Unfortunately, too much wealth has been used to buy estates in the Hamptons or invested in hedge fund speculations. And not enough has been productively invested or used to increase human knowledge. That is the real problem.
Markets
A good day yesterday. Today is starting weak. The bears are sure to attack. Obama Fund and Fido Fund are fully invested now. Waiting.
Word of the Day
"Zaftig" - adjective [$100] slang, from Yiddish
Zaftig means 1. (of a woman) having a pleasantly plump figure; 2. full bodied, well-proportioned.
Sentence: Famous zaftig women of the 20th century include Marilyn Monroe and Sofia Loren. Before that, Lillian Russell and Josie Mansfield were zaftig femme fatales.
Yesterday the Chinese leader, Wen, and the Russian leader, Putin, lectured the US and criticised the western system. Uh ... those are the leaders of two corrupt gangocracies. That's like Al Capone lecturing Roosevelt on how to run a nation. Or Carlo Gambino lecturing John Kennedy. Sheesh. I suppose one should just politely ignore them, but "stuff it" comes more to mind.
The system of freedom and private property works superbly, but the tendency for excess accumulations of wealth and power by a few needs to be somehow properly directed - social pressure would be best - and their tendencies to create aristocracies stopped. And their raiding parties need to be squashed.
For example, what philanthropist funds artists or mathematicians or writers or philosophers to increase human knowledge ? Mostly they pay big $ to museums to buy old masters or build new wings. Nothing new is created. Davos is full of them - those wanting a big monument to themselves. A few do good things to increase human knowledge. But just a few.
For example, a program to teach young children foreign languages would be incredibly valuable. The young can learn languages so easily. But is that done ? No.
I again reproduce the quote from Thucydides that sparked my thinking on this matter - I first read it referenced in Erasmus' "Praise of Folly". The quote is from the famous oration of Pericles.
"We cultivate refinement without extravagance and knowledge without effeminacy; wealth we employ more for use than for show, and place the real disgrace of poverty not in owning to the fact but in declining the struggle against it."
Unfortunately, too much wealth has been used to buy estates in the Hamptons or invested in hedge fund speculations. And not enough has been productively invested or used to increase human knowledge. That is the real problem.
Markets
A good day yesterday. Today is starting weak. The bears are sure to attack. Obama Fund and Fido Fund are fully invested now. Waiting.
Word of the Day
"Zaftig" - adjective [$100] slang, from Yiddish
Zaftig means 1. (of a woman) having a pleasantly plump figure; 2. full bodied, well-proportioned.
Sentence: Famous zaftig women of the 20th century include Marilyn Monroe and Sofia Loren. Before that, Lillian Russell and Josie Mansfield were zaftig femme fatales.
Wednesday, January 28, 2009
Arghhhhhhh ...
Both Babblevision and Blabberg are putting these Davos suits on TV endlessly. Hello ... they are part of the problem, not the solution.
European markets are up solidly and US futures are strong, reportedly on talk that Obama is closer to creating a huge "bad bank" to take crappy assets off the banks books. Good, if they can work it out.
I have early tasks to do before the snowstorm here, hence a very short post.
Word of the Day
"Bete noire" - noun [$10]; French term absorbed into English; from the card file.
Bete noire means a person or thing strongly detested or avoided.
Sentence: One does not have to be perspicacious to recognize that Bunkerman's bete noire is the beefer - the big evil fund, whether it's a hedge fund or a very active money manager.
Literally, in French, "bête noire" means "black beast"; the idiom means one's pet hate or pet peeve.
European markets are up solidly and US futures are strong, reportedly on talk that Obama is closer to creating a huge "bad bank" to take crappy assets off the banks books. Good, if they can work it out.
I have early tasks to do before the snowstorm here, hence a very short post.
Word of the Day
"Bete noire" - noun [$10]; French term absorbed into English; from the card file.
Bete noire means a person or thing strongly detested or avoided.
Sentence: One does not have to be perspicacious to recognize that Bunkerman's bete noire is the beefer - the big evil fund, whether it's a hedge fund or a very active money manager.
Literally, in French, "bête noire" means "black beast"; the idiom means one's pet hate or pet peeve.
Tuesday, January 27, 2009
The Arrogance of Wealth and Power II
[This is adapted from the blog post of last year at this time. I was surprised how few changes I had to make to update it.]
“Davos" is the epitome of that syndrome. Rich and powerful people meet in a resort to discuss the "world economy", viz., how they can control the common man and bend him to their wishes. Is increasing human freedom a pillar of their goals ? ... No. Is increasing human culture and knowledge a goal ? ... No. They network among each other to exchange thinking on how to maintain and increase their control over ... the rest of us. Every year Davos makes me want to puke.
Lately I have read in the WSJ, FT, the BBC online, Le Monde and Le Figaro that some in government want to "change capitalism" due to the financial crisis. Hmmm, the world's governments want to tell us how to change "capitalism". I don't think they really know what the word means. That word, "capitalism" is unfortunately a Marxist word for an economic system in contraposition to socialism and communism. "Capitalism" is not simply a system with private capital employed for increasing wealth, but is a label for the entire free private property system where a free man or woman can "own" things and do with them what they please. What people think of as "capitalism" is an effect of this human freedom which developed in the early 19th century as free people found ways to band together and use resources more effectively by sharing and exchanging risks and ideas.
So efforts to "change capitalism" are simply stupid. What does that mean ? If it means anything other than trying to get leaders to "freely" adjust business practices, then it is really a limitation on human freedom. Now some limits on human freedom are fine with me, namely those that prevent the rich & powerful from using their positions to dominate the common man and become new feudal lords. Now huge pools of money from the rich raid companies and small nations like the Vikings of the 9th century. They manipulate the dynamics of markets to create fear and intimidate the common man. And panics of the rich from their unproductive speculations trample the lives and livelihoods of the common man. That's how feudalism began ... fighting men used their skills to dominate farmers into giving up their own freedom and lands and accepting "protection".
So is Davos about actually helping people .. or is it about using and creating fear and grabbing power so "they" can become new Dukes & Barons ? I think it's a bit of both, but the well-meaning fools seeking the former are being used as cover by those knaves seeking the latter. Are restrictions on the rich and powerful a subject at Davos ? What about regulation of hedge funds ? If they want to discuss how to control themselves, fine, that's an admirable topic. Otherwise, they should shut up and leave us alone.
Word of the Day
"Sempiternal" - adjective [$10]; literary; a Mencken word
Sempiternal means eternal, everlasting.
Sentences -
The Mencken usage (from the Truman Presidential election campaign in 1948]: "Every one of them (voters), he (Truman) figured, was itching for something, and he made his campaign by the sempiternal device of engaging to give it to them."
Bunkerman: The sempiternal desires of the rich and powerful for more wealth and power are the psychological cause of their recurrent efforts in history to create an aristocracy to dominate a nation. In many civilizations, this led to the downfall of the civilization as the aristocracy weakened and subjugated the foundational pillars of the its strength, viz., the common man and woman. Instead of interfering with enterprise, central governments should put reasonable limits on that budding aristocracy and prevent it from gaining more wealth and power. The common man and woman should be completely free to pursuit their happiness.
“Davos" is the epitome of that syndrome. Rich and powerful people meet in a resort to discuss the "world economy", viz., how they can control the common man and bend him to their wishes. Is increasing human freedom a pillar of their goals ? ... No. Is increasing human culture and knowledge a goal ? ... No. They network among each other to exchange thinking on how to maintain and increase their control over ... the rest of us. Every year Davos makes me want to puke.
Lately I have read in the WSJ, FT, the BBC online, Le Monde and Le Figaro that some in government want to "change capitalism" due to the financial crisis. Hmmm, the world's governments want to tell us how to change "capitalism". I don't think they really know what the word means. That word, "capitalism" is unfortunately a Marxist word for an economic system in contraposition to socialism and communism. "Capitalism" is not simply a system with private capital employed for increasing wealth, but is a label for the entire free private property system where a free man or woman can "own" things and do with them what they please. What people think of as "capitalism" is an effect of this human freedom which developed in the early 19th century as free people found ways to band together and use resources more effectively by sharing and exchanging risks and ideas.
So efforts to "change capitalism" are simply stupid. What does that mean ? If it means anything other than trying to get leaders to "freely" adjust business practices, then it is really a limitation on human freedom. Now some limits on human freedom are fine with me, namely those that prevent the rich & powerful from using their positions to dominate the common man and become new feudal lords. Now huge pools of money from the rich raid companies and small nations like the Vikings of the 9th century. They manipulate the dynamics of markets to create fear and intimidate the common man. And panics of the rich from their unproductive speculations trample the lives and livelihoods of the common man. That's how feudalism began ... fighting men used their skills to dominate farmers into giving up their own freedom and lands and accepting "protection".
So is Davos about actually helping people .. or is it about using and creating fear and grabbing power so "they" can become new Dukes & Barons ? I think it's a bit of both, but the well-meaning fools seeking the former are being used as cover by those knaves seeking the latter. Are restrictions on the rich and powerful a subject at Davos ? What about regulation of hedge funds ? If they want to discuss how to control themselves, fine, that's an admirable topic. Otherwise, they should shut up and leave us alone.
Word of the Day
"Sempiternal" - adjective [$10]; literary; a Mencken word
Sempiternal means eternal, everlasting.
Sentences -
The Mencken usage (from the Truman Presidential election campaign in 1948]: "Every one of them (voters), he (Truman) figured, was itching for something, and he made his campaign by the sempiternal device of engaging to give it to them."
Bunkerman: The sempiternal desires of the rich and powerful for more wealth and power are the psychological cause of their recurrent efforts in history to create an aristocracy to dominate a nation. In many civilizations, this led to the downfall of the civilization as the aristocracy weakened and subjugated the foundational pillars of the its strength, viz., the common man and woman. Instead of interfering with enterprise, central governments should put reasonable limits on that budding aristocracy and prevent it from gaining more wealth and power. The common man and woman should be completely free to pursuit their happiness.
Friday, January 25, 2008
The Arrogance of Wealth and Power
"Davos" is the epitome of that syndrome. Rich and powerful people meet in a resort to discuss the "world economy", viz., how they can control the common man and bend him to their wishes. Is increasing human freedom a pillar of their goals ? ... No. Is increasing human culture and knowledge a goal ? ... No. They network among each other to exchange thinking on how to maintain and increase their control over ... the rest of us. Every year Davos makes me want to puke.
Then I read in the WSJ that Bill Gates wants to "change capitalism". Hmmm, the world's wealthiest person who become wealthy running a de facto monopoly wants to tell us how to change "capitalism". I don't think he really knows what word the means. That word, "capitalism" is unfortunately a Marxist word for an economic system in contraposition to socialism and communism. "Capitalism" is not simply a system with private capital employed for increasing wealth, but is a label for the entire free private property system where a free man or woman can "own" things and do with them what they please. What people think of as "capitalism" is an effect of this human freedom which developed in the early 19th century as free people found ways to band together and use resources more effectively by sharing and exchanging risks and ideas.
So efforts to "change capitalism" are simply stupid. What does that mean ? If it means anything other than trying to get leaders to "freely" adjust business practices, then it is really a limitation on human freedom. Now some limits on human freedom are fine with me, namely those that prevent the rich & powerful from using their positions to dominate the common man and become new feudal lords. Or to manipulate the dynamics of markets to create fear and intimidate the common man. That's how feudalism began ... good fighting men used their skills to dominate farmers into giving up their own freedom and lands and accepting "protection".
So is Davos about actually helping people .. or is it about using and creating fear so "they" can become new Dukes & Barons ? I think it's a bit of both, but the well-meaning fools seeking the former are being used as cover by those knaves seeking the latter. Are restrictions on the rich and powerful a subject at Davos ? What about regulation of hedge funds ? If they want to discuss how to control themselves, fine, that's an admirable topic. Otherwise, they should shut up and leave us alone.
PS: Futures are up at 5AM ET. MSFT had good earnings. Gold is up. Oil is back over $90. I am about 200% long with some reserves to deploy IF we get another dip. I made a lot of reallocation trades yesterday. My Alpha Fund positions are BAC, WB, GE, JPM, C, GOOG, CVX, DVN, RTP, PCU, AAPL, BHP, RIO, RIG, DO, SU, HDB, IBN, MRO, VLO, BTU, FCX, CCJ, EDU, in rough size order. The largest is over 20x the size of the smaller. I have to sell some gold in the Krypto Fund and buy stocks. Gold is way overweight there. I might do that today, but since it's physical gold, I have to do it in small bits.
PPS: I'm holding a barf bag and puking, seeing Maria, Gates, Dell & Bono blab. Arghhh !
Then I read in the WSJ that Bill Gates wants to "change capitalism". Hmmm, the world's wealthiest person who become wealthy running a de facto monopoly wants to tell us how to change "capitalism". I don't think he really knows what word the means. That word, "capitalism" is unfortunately a Marxist word for an economic system in contraposition to socialism and communism. "Capitalism" is not simply a system with private capital employed for increasing wealth, but is a label for the entire free private property system where a free man or woman can "own" things and do with them what they please. What people think of as "capitalism" is an effect of this human freedom which developed in the early 19th century as free people found ways to band together and use resources more effectively by sharing and exchanging risks and ideas.
So efforts to "change capitalism" are simply stupid. What does that mean ? If it means anything other than trying to get leaders to "freely" adjust business practices, then it is really a limitation on human freedom. Now some limits on human freedom are fine with me, namely those that prevent the rich & powerful from using their positions to dominate the common man and become new feudal lords. Or to manipulate the dynamics of markets to create fear and intimidate the common man. That's how feudalism began ... good fighting men used their skills to dominate farmers into giving up their own freedom and lands and accepting "protection".
So is Davos about actually helping people .. or is it about using and creating fear so "they" can become new Dukes & Barons ? I think it's a bit of both, but the well-meaning fools seeking the former are being used as cover by those knaves seeking the latter. Are restrictions on the rich and powerful a subject at Davos ? What about regulation of hedge funds ? If they want to discuss how to control themselves, fine, that's an admirable topic. Otherwise, they should shut up and leave us alone.
PS: Futures are up at 5AM ET. MSFT had good earnings. Gold is up. Oil is back over $90. I am about 200% long with some reserves to deploy IF we get another dip. I made a lot of reallocation trades yesterday. My Alpha Fund positions are BAC, WB, GE, JPM, C, GOOG, CVX, DVN, RTP, PCU, AAPL, BHP, RIO, RIG, DO, SU, HDB, IBN, MRO, VLO, BTU, FCX, CCJ, EDU, in rough size order. The largest is over 20x the size of the smaller. I have to sell some gold in the Krypto Fund and buy stocks. Gold is way overweight there. I might do that today, but since it's physical gold, I have to do it in small bits.
PPS: I'm holding a barf bag and puking, seeing Maria, Gates, Dell & Bono blab. Arghhh !
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