Nothing to do….
As we have warned a few times in past KEDM’s commentary is going to be light going forward as our bearish leanings are not going to change on a daily/weekly basis. We noted a couple weeks ago that the focus/headlines on tarrifs continue to mask the “real” solvency story that is coming to a head. …
An Important Gloom and Doom PSA….
It’s said that there’s no such thing as a quadruple bottom in finance. That’s terrifying as TLT (yeah, we know only retail track it…) looks to be teasing a 4th bottom. We’re increasingly of the view that TLT fails. When that happens, we really don’t know WTF happens. Just think about all the things that…
De-gross, De-gross, De-gross…
Almost three months ago, we noted KEDM was in full harvest mode, as we culled the herd and moved to center-book. We even pruned some center-book names—though, our focus was on purging anything illiquid, stuff we’d be hard-pressed to sell in a real correlation-1 scenario. We wanted to de-gross in a major way. Admittedly,…
August 4, 2024, Vol. 187
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This Market Feels Spooky…
We’re increasingly of the view that we may now be approaching a rough patch, possibly even the end of the road in terms of this economic cycle (March 2020 to fall 2024??). In our careers, near the top, every investor always says something baggy like… Given the “Project Zimbabwe” framework at play, that fall may…