Some highlights from this weekend’s Event Driven Monitor
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The Event of the Week
Once you look at this chart, you simply cannot unsee it. Our good friend, Kevin “The Macro Tourist” Muir sent this to us during the Wednesday Fed smash. It accurately predicted the subsequent ripper on Friday. If it goes to analog, it likely continues for a few days, then death. Kevin has been harping on the size of the JPM Whale and all the year-end structured products for a while now. At first, we sorta ignored him, but we increasingly think he’s onto something here.
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Kuppy’s Tweet of the Week
Chart and Kliff Note of the Week
Cluster Insider Buy Monitor: Buying over in offshore, Tidewater, TDW as the CEO/President and Bob Robotti stepped up for $3m. Worth noting they sold the top at $100 and are buying at $50.
CEO Turnover Monitor: AIRS, a non-invasive liposuction retail business, names Yogi Jashnani as CEO. His CV includes executive stints at a trampoline park, Ideal Image, AAP, and COF. While this business has all the signs of being a faddy, fraudulent, weight loss scam, the four-wall economics do seem to be pretty good and there are tails here from all that loose skin left behind by GLP-1s… Obligatory short report.
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Kuppy’s Event Driven Monitor scans over 20 corporate events for market moving information and distills them into our propietary “Kliff Notes.” One profitable trade should more than cover an annual subscription and access to the Event Driven chatroom!