Thursday, February 23, 2017

Grand Champion Con Artist



Beijing has spent a trillion dollars supporting the Yuan since the Fed started withdrawing liquidity. Trump wants them to stop...

S&P opening downside gaps with Chinese Yuan:

Any questions?



Speaking of ignored risks, here is the current positioning across various asset classes:

Bond short exposure



Junk stock exposure



Bank exposure




Oil exposure



Mutual fund cash balances



Bearish assets



Option hedging. Or not...



Active Manager risk exposure




"Don't worry, we're smarter than the rest of the world combined"

U.S. versus world: