It's Lonely At The Top

An Idiocracy is a society that can be conned over and over again by the exact same psychopaths, each time expecting a different result...

What we have is 1987 bullish sentiment. Y2K Tech risk. 2008 deflation risk. 2008 retail implosion. 2011 Fed rolloff risk. 2014 EM risk. 2015 rate rise risk. All bundled together with an unprecedented volatility hair trigger. 

Remember two years ago? It was a crisis on Wall Street:

Well, there's good news:

Any questions?

I fully understand why young people ~20-somethings are chasing BitCasino and otherwise throwing their money away at the top. I did it back in Y2K, and it was a lot of fun, right up until it wasn't. However, Baby Boomers and the Gen-X zombies have no fucking excuse whatsoever. They have amply proven that they can be conned over and over again, like a fucking ATM machine for Wall Street...

And in this last cycle, I have often surmised that the sole role of these liquidity pumping momentum algos is to keep the casino bid so that Wall Street can dump junk onto the comatized public. Thereby, wringing the maximum capital out of the public ATM machine. So far, I have no reason to believe that theory is incorrect...

"Pop culture figurine maker Funko fell 41% on Thursday to close at $7.07 in the worst first-day return for an IPO in 17 years. The company priced a downsized IPO at $12 per share, below its range of $14-$16"

This piece of shit opened at $9, leaving hedge fund bagholders stranded:

But it wasn't just Funko that imploded, two other IPOs late in the week opened below their IPO price:

Priced at $14

Also priced at $14

2017 Tech unicorns, % change from post-IPO pump and dump:

"The party's over, get the rest of that shit out the door, before the sheeple realize they got sheared again"

IPO count

"I wonder why it crashed"

The second biggest flop since Y2K, brings back memories of October 2014 back when Alibabylon imploded the market:

"Don't worry about the 'Conomy, that's a detail"

Wall Street took their low volume/volatility levitation trick to level iPhoney 11