2014: The Year The Psychopaths Drank Their Own Kool-Aid

The goal of this final collapse will be to wipe out Wall Street and as many UnHedged Funds as possible. By their own admission, it won't be difficult...

ZH: Dec. 31st, 2014

"Hugh Hendry: I am taking the blue pills now"

"There are times when an investor has no choice but to behave as though he believes in things that don't necessarily exist."

Stop me anytime...

"The truth? You have to reject it"

"For us, that means being willing to be long risk assets in the full knowledge of two things: 
that those assets may have no qualitative support; and second, that
this is all going to end painfully."

"Kindelberger's Manias, Panics and Crashes...has been absolutely detrimental to my investment performance for the last six years and as a result I have changed"

"I still believe that the attempt by central bankers to prevent the private sector from deleveraging via a non-stop parade of asset price bubbles will end in tears. But I no longer think that anyone can say when."

Gambling with Other People's Money. Visualized.

% Bearish 2-year moving average

The hook is set. This is the one that brings down the casino.