weekend notes

Hope all goes well… “If you got through Jan unscathed it’ll be a great year,” said Roadrunner. “Markets will really move around, there’s going to be lots to do,” continued the market’s biggest equity volatility trader. “But guys who got hurt are trapped.” He stepped calmly aside, dodging an anvil. “They’ll be chasing this thing up and down, trying to get back to even.” Last January’s Swiss franc t

Hope all goes well… “I’m just going to warm them up in my mouth,” said Charlie, blanketed in his first blizzard, cheeks red, cramming ten fingers into his gob. “Works great,” I think he said, but can’t be certain. He’d insisted pajama bottoms were plenty warm for sledding. Why bother arguing? He declined my offer of mittens. I smiled, shrugged, happy to let him learn. Wolfie and Shackleton bounded

Hope all goes well… “Capital preservation time,” whispered Vice, sitting on his chair, atop the world’s highest heap of private wealth management moolah. “Advisors are fighting back tears.” The S&P 500 closed last year -0.8%, supported by a handful of big stocks. But diversified portfolios were down closer to 5%. Then the S&P fell 8% in 2 weeks. “For three years clients bought every dip. T

Hope all goes well… “Was work ok today?” asked Olivia, my 12yr old. “Good day, why do you ask?” I replied. “Well, for one, Chinese stocks went nuts,” she said. “How’d you know that?” I laughed, stunned, Greenwich. “Homeroom. We listen to news.” So I asked what else? “Brazil has a new disease carried by mosquitos that causes birth defects.” When it rains it pours. “The fight between Iran and Saudi

Hope all goes well… Wishing you and your crew a fantastic 2016. Health, adventure, discovery, prosperity. Dusted off the only anecdote I never submitted to my Editor (see below). Back next Sunday with full wknd notes. Week-in-Review: Mon: China industrial profits -1.4% (prev -4.6%), Japan retail sales -1.0% (IP +1.6%), Japan/Korea reach wartime “comfort women” accord, Iraqi forces recapture Ramadi

Hope all goes well… Dug up an old anecdote about magic (see below). Back Jan 10th with full weekend notes. Week-in-Review: Mon: Spain’s ruling conservatives lose parliamentary majority, German PPI -2.5%, Swiss M3 +2.7% (10mth high), EU consumer confidence weakens (Swedish jumps), Barbosa replaces Levy as Brazil Fin Min, Mexico retail sales +4.8%, Brent hits 11yr low ($36.05), SpaceX successfully l

Hope all goes well… “Check the closets, under the beds, check every single hiding place,” ordered Teddy, tip toeing upstairs. “Here’s the thing Charlie, if we find presents, then there’s no Santa. And if we don’t, then we’ll know for sure he’s real,” continued my 10yr old, shaken by playground rumors, but still desperate to believe. Jackson overheard it all, and sprang to action, distracting Dumb

Hope all goes well… “You want to know the most interesting thing about next year?” asked Biggie Too, chief global strategist for one of Wall Street’s too big to fail affairs. I shook my head no. “They sent Biggie on a one-month global tour, put him on stage a hundred times; pensions, insurers, sovereigns, hedge funds, all the hustlers,” he boasted in baritone, flipping to third person. “And the mo

Hope all goes well… “Tough to get a good feel for where to next,” said Road Runner, wrapping up a record year. “But not many bulls up here, the recent sell-off wasn’t too uncomfortable, it’s still easier to be long stock,” continued the market’s top volatility trader. “I see a trap setting up for the market to sell off in Feb or March, but you can’t be too early for these things,” said the elusive