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They Call Me Bubble Boy

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A funny scene in the Big Short is a scene where the Deutsche Bank swap seller confesses to Mark Baum that his colleagues at Deutsche call him Bubble Boy and Chicken Little. I laughed out loud, realizing that I have fallen into that identity. As Jarred Vinnet was ridiculed in 2007, a small number of insiders/smart money were moving into the short trade. How can a bubble that was developing be so obvious, yet ridiculed to the point no one would bet against it? Your answer lies within the question. Calling real estate a bubble was publicly ridiculed in 2007. Its an age old insider strategy. Blow the bubble and then transfer your positions at the top while crying loudly there is no bubble. You give all the reasons that “this time its different”.

You transfer the risk. You’re out. The bagholders never believe they’re the bagholders until they are trapped. There’s always a reason its “different this time”. For instance we now have the Central Banks uniformly “backstopping” the markets. Never mind they’re just printing fiat and buying worthless assets. Its all good. The mantra that “this can go on forever” is now a predominant sentiment in the bubble riders. Reckless investments have been rewarded with the easy money backing their “brilliant strategy”. What could go wrong?

The smart money will move into the assets that have not moved with this bubble and one of those assets is precious metals. Once they’re positioned then the overt price move upward will be allowed. Yes, they do have that much control. gl


Source: http://kliguy38depression2news.blogspot.com/2019/05/they-call-me-bubble-boy.html



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