Crazy Korean, Morons with Margin and Red Wine

All the buzz today is about the bull markets birthday and a million reasons it will go higher from here. David Tepper yesterday said that while the market is not cheap, it is hard to sell in front of the economic optimism. He pointed to Central Banks accommodative stance as the biggest reason or stocks to go higher. He told CNBC that “"Listen, it's hard to go short when you still have the drugs being given. The punch bowl's still full." Tepper has been more right than just about anyone else in the past few years, so you have to give a certain amount of weight to his viewpoint. Other discussions are bout Trump Policies, and Fed moves and no one is paying much attention to what could be the biggest market mover of them all.

North Korea is saber rattling again and fired four missiles into the Sea of Japan this week. The US and South Korea are conducting military exercises in the region and have begun implanting the installation of the Terminal High Altitude Area Defense (THAAD) system. China opposes the system and calls it an attempt by the US to meddle in Asian affairs. They also asked the US to stop or at least modify their military exercises in exchange for North Korea halting the missile program, and the US has said no to the proposal. US Ambassador Niki Haley said in response to China proposal “We have to see some sort of positive action taken by North Korea before we can ever take them seriously.” She added that all options are on the table when it comes to dealing with North Korea.

We are playing chicken with a crazy man who thinks he is untouchable. He has gotten away with his insanity for so ...

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Crazy Korean, Morons with Margin and Red Wine

All the buzz today is about the bull markets birthday and a million reasons it will go higher from here. David Tepper yesterday said that while the market is not cheap, it is hard to sell in front of the ...

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Comments

More Banks , Books and Baseball

I had a chance earlier this week to sit down and chat with Robert Hendershott of Context BH Capital. Context is a fund the employs an event-driven, long/short investment strategy focused on the community and regional banking sectors. They ...

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More Banks , Books and baseball

I had a chance earlier this week to sit down and chat with Robert Hendershott of Context BH Capital. Context is a fund the employs an event-driven, long/short investment strategy focused on the community and regional banking sectors. They ...

Read More
Comments

Munger, Political Bile and Reading for Fun

How many different ways can I say that the market looks pretty expensive at these levels and a heightened sense of caution is warranted? My basic view of the stock market has not changed in the past week, and I ...

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Big Guns, Cheap Banks and Sweet Cash

It seems the hedge fund gurus are out in force of late talking about their view of the market. Ray Dalio of Bridgewater penned a piece in a recent edition of The Economist, and he was less than upbeat, to ...

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Skinny Tigers, Hot Rods and Talented Armadillos

I didn’t get a Thursday piece out last week as I was busy prepping for my trip to Phoenix and the Bank Directors Acquire or be Acquired Conference. This is easily my favorite conference each year as more than ...

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Baseball, Brass Knuckles and Wild Weekends

It is going to be an interesting weekend. The Inauguration of Donald Trump as the 45th President of the United States is going to touch of arguments, paid discussions, rallies, counter demonstrations and at least a moderate chance of full ...

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Just the numbers

Closed Trade History (Realized Gain)

Download CSV

Symbology

Position

Quantity

Entry

Exit

P/L ($)

P/L (%)

Entry Date

Exit Date

EVBS

Long

300.0

$5.03

$9.92

$1,467.00

97.22%

06/07/2013

12/14/2016

TRCB ...

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Greek Philosophy, Tough Guys and Rubber Necking

In his most recent memo, Howards Marks of Oaktree (OAK) talks about forecasting. At one point he cites Greek philosophy to make his point saying ““If you wish to improve,” Epictetus [first-century Greek philosopher] once said, “be content to appear ...

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Banks, Cyber and Black Eyed Peas

As we head into New Year’s weekend, I find myself reading a lot of year in review and next year outlook material. I am a big fan of the overviews and outlooks but try to avoid those prognosticators making ...

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Todays Pre-market show. Banks and a REIT

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