A Bearish PSA, Part Duex
By now most KEDM readers get how bearish we are. We are not going to regurgitate it; we’ve beat that horse to its bloody death. But as we’ve talked to 50+ hediges over the past week, the common response is “sure I am bearish, but we are 1 tweet away from a tariff deal and…
Trump Goes Mining…
We’ve always wondered why they let Trump win, after blocking him in 2020. And don’t think it’s about him getting more votes, it’s ALWAYS about who counts the votes. Call it a pet theory, but the oligarchs and Deep State types watched as the Russians steamroll a few NATO armies in Ukraine, watched the Russians…
Tina died in 2025…
Speaking of tops, on January 12, we posted an eerie chart of CSCO against the last remaining generals left in the markets using SMH as the proxy (we urge you to re-read here). Let’s revisit: “In summary, we’re bears. Now raging Kodiak Bears… We were just starting out in this business when we realized that…
Trump 2.0
Turning to the markets, the secret to successful investing is the art of having strong views, loosely held. For the better part of our careers, we’ve been bearish bonds. “Project Zimbabwe” and all that jazz. However, we’re open to other views… Over the past month, we have been astounded by the progress made by Trump,…
LatAm will roar…
Trump won!! Naturally, we wonder if we’re positioned right for what comes next. What does Round 2 look like?? Is it like Round 1 where he spends most of the day golfing, and occasionally tweeting about how great the market is?? (Remember those 150bps rippers every afternoon??) Or does he actually try and Make America…
Inflation is Back
Moving on, we don’t know exactly why it happened on Friday, but after weeks of data showing that inflation was accelerating, on Friday, the markets finally started to care… Check this chart of GLD (we’re using it instead of XAU as it doesn’t have that crazy overnight wick)… XAU – ‘Ain’t she a beauty…?? We’re…
March 3, 2024, Vol.166
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