We've been hearing about doom for months and the financial cliff we were all supposed to have trundled off by now has turned into a long, gentle slope down. Greece is making its latest last ditch attempt of several to make the cuts it has always promised but never fulfilled. Even the normally supine analyst community has had enough of this endless parade of tomfoolery and is predicting a global CDS blowout. That's really nice. Maybe they read my blog, or maybe their prop funds have gone short to clean up the clients abandoned by other hedge funds that aren't cutting the mustard. Maybe they've just run out of lies to tell and have defaulted to telling the truths that a toddler could see in the markets.
Maybe I should have sold more of my FXI holdings if China's bonds are suspect too. Alternatively, maybe hanging on to some FXI will prove prescient if a forced yuan appreciation makes Chinese corporate earnings look more attractive. At least I don't have to close up shop due to massive losses, redemptions, and liquidity crises like a bunch of stupid hedge funds. Just get this whole market crash over with already so I can buy some bargain stocks.
Maybe I should have sold more of my FXI holdings if China's bonds are suspect too. Alternatively, maybe hanging on to some FXI will prove prescient if a forced yuan appreciation makes Chinese corporate earnings look more attractive. At least I don't have to close up shop due to massive losses, redemptions, and liquidity crises like a bunch of stupid hedge funds. Just get this whole market crash over with already so I can buy some bargain stocks.
