Thursday, January 12, 2017

In Circus Clownius We Trust

"The driver for the acceleration of ‘reversal trades’ yesterday into the overnight was the Barnum-esque circus of a press conference yesterday from President-elect Trump. Expectations were built for a more “Presidential” tone, with more granular ‘policy talk’--Needless to say, we got a “goat rodeo” instead, and it spooked a lot of the TACTICALLY long reflation crowd."

"No one saw it coming"

Shocking. Absolutely shocking I tell you...

Dow 20,000. Or crash...

"Tactically unprecedented record long (short bonds), easily unwound into a one-sided market"

"We were tactically unhedged, since it's not our money anyways"

Index Put/call:

"The race to repeal Obamacare by President-elect Donald Trump and the Republican Congress will have one immediate side effect beyond any doctor's office: a large tax cut for the wealthiest Americans."

"We were preoccupied with fucking over the former middle class when we got fucked over by our own circus clown putting on a goat rodeo. We were godless and corrupt as the day is long, so no one saw it coming"