Entire market of 3,451 stocks minus “Giant 5” is down 1% from Jan 2018. But wow, the volatility! You would have been better off with a despicable freaking savings account.
The AMLO government, which has refused to bail out shareholders and bondholders of large companies, could be on to something: A form of capitalism where investors, not taxpayers, carry the risks.
I’m sharing this trade for your future entertainment so you can hail me as the obliterating moron that infamously shorted the greatest rally floating weightlessly ever higher above the worst economic and corporate crisis imaginable.
“People do not buy a new outfit to stay at home.” Sales at stores that have reopened languish while ecommerce is booming. McKinsey: up to a third of global fashion retailers will not survive the crisis.
What’s so insidious about the Fed’s bailouts of investors in hedge funds, mortgage-REITS, stocks, bonds, leveraged loans, and other often risky assets? The destruction of capitalism (transcript of my podcast).
Shares go to heck after the mother of all revenue-warnings, plunge 20% in two days, including 7% after hours. Its disclosure confirms Buffett’s decision to dump his airlines in mid-crash.
