trading recap

“Cyprus changed the game, it was Europe’s Northern Rock moment, it was pivotal, we now really know how committed they are to one another,” explained the CIO of the best performing macro fund in recent years. Then that Dutch guy with the unpronounceable name said Cyprus was a template. “It’s like telling your mother-in-law she’s fat — no matter how hard you try, you can never take those words back,” he continued

Ok, let’s keep it simple. Transitive. Politicians love power; and power requires money; therefore politicians love money. Which makes Cyprus so fascinating. Because their politicians ran out. Of money that is. Which is silly when you think about it. ’Cause it’s just paper. Unless of course, you don’t have a printing press. And no European politician does. Because Germans are haunted by their past; Germany’s past is d

You get the Pope App? Me too. Yeah, I just love conclaves. Making odds. Placing bets. Then letting divine intervention guide the hand of fate. Of course, it always feels better to bet when you got more upside than down. So naturally I bet there’s a God, and we’re created in His image. I always bet people never change. And that human behavior repeats in endless cycles. Take Brazilian’s. Inflation’s rising again. Growt

Week-in-Review: Mon: China property cooling measures (Shanghai -3.7% — worst in 2yrs), Spain unemploy 23.8% (23.5% prev), EU invest sentiment drops, PPI +0.6% (core +0.2%), UK construction PMI 46.8 (Oct ’09 low), Fitch “Positive” on California, S&P +0.4%; Tue: China services PMI 52.1 (2mth low), China NPC targets (GDP 7.5%, CPI 3.5%, deficit 2%, foreign trade 8%, money supply 13%) – Shanghai +2.3%, India se

See the signs brother? Yeah me too. Everything’s connected. Pope Benedict is 85. Retiring early. Hasn’t happened since 1294, when his Holiness, Celestine the 5th, was Pope for 5mths and 8days – then hit the bid. His successor, Boniface the 8th, immediately placed humble Celestine in prison – where he promptly died. Went to heaven, and was canonized as a Saint – for that early exit. While Boniface clung to

Not a single soul in the room could read the statement with a straight face. But practice makes perfect. So they kept trying. And drinking spiked punch. Late into the Moscow night. Of course, Japanese can’t hold their liquor. And Tokyo’s feather-weight finance minister soon found himself legless. Oh, how the crowd laughed as they egged him on. “C’mon you little Aso, read it one more time,” they chortled. And try he w

Hope all goes well. “Happy V day baby,” I texted my Valentine, from Chicago O’Hare. Which ain’t exactly a pro move, in case you wondered. And to make matters worse, Mara read my note while packing our bags. You see, I’d left her on her own, back in Santa Barbara. To spend the Day of Love schlepping four kids and ski gear to the Rockies. Which is a scene that never found its way into Romeo and Juliet. So at our rendez

“Vive la France!” chanted the rapturous crowd. Dancing. Singing. And emerging from the shadow of a monument commemorating Mali’s independence from France, Hollande took the podium, promising to stay as long as necessary. To free Timbuktu. From the ruthless grip of a radical minority. An austere sect. Unwilling to compromise. And with that commitment made, Francois jetted home. To lash out at the faceless, ruthless mi

Duck dude! They’re freakin’ everywhere. Rockets that is. South Korea launched their first satellite. Into space. To look back down. Onto Earth. Where 300 dusty dongs remain pointed at Seoul. And with so many rockets swirling round the Sea of Japan, Tokyo’s sleepy Samurai boosted defense spending for the first time in 11yrs (while reducing the overall budget for the first time in 7yrs). Of course, the Ayatollah launch