SubscribeTDI Podcast 106: ZeroHedge and Mish-O-Nomics
April 26, 2009
Guests: Mish Shedlock and ZeroHedge present views on the markets and the mayhem. We review economics, fundamentals and basic flaws with the entire system. Andrew discusses the not-so-stressful stress tests and what is the probable outcome along with a few investment ideas.
LISTEN TO PODCAST NOW | LISTEN @ ZUNE - @ iTUNES
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Mike “Mish” Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. He is a regular guest on TDI Podcast and has helped thousands of listeners protect their money during these very turbulent financial times. As Mish tells us, “Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.”
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Tyler Durden (clearly a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit. Visit his very informative site at ZeroHedge.com.
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STRESS TEST – FEDERAL RESERVE WHITE PAPER HERE (pdf)
A white paper describing the process and methodologies employed by the federal banking supervisory agencies in their forward-looking capital assessment of large U.S. bank holding companies was published on Friday.
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Sponsor: Try GotoMyPC free for 30 days! For this special offer, visit www.gotomypc.com/podcast
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Stocks Discussed in this Episode: JP Morgan (JPM), Wells Fargo (WFC), CitiGroup (C), ProShares UltraShort 20+ Year Treasury (TBT), Goldman Sachs (GS), Mosaic (MOS) and others.
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Comments
13 Responses to “TDI Podcast 106: ZeroHedge and Mish-O-Nomics”
Got something to say?
Andrew, you said "the market will meet the fundamentals", as a way to said that if fundamentals are at the flloor, the market is going down.
In the other hand, to reach the meeting point, the fundamentals can be adjusted to justify a market…. e.g. inflation, creative accounting, indexes manipulation, etc.
So, the crisis may be ending "sooner".
Best episode ever
A – outstanding content again. Thanks for bringing these guys on and asking the right questions.
I really enjoy Mish because he's an economist who actually trades the market so he has an in depth understanding and not just an academic view.
Some of Tyler's info was a bit hard to understand the first time around but after replaying it I grasped it a lot more. As long as there's a market there will be greed, abuse, manipulation, an someone on the inside always knows a piece of info and will seek to exploit it.
No doubt, we have to stay flexible in these markets. I'm back to almost 100% cash at the moment. That was a great run from the S&P 666 level and we hit the $825>$843>$875 price targets I was looking for. I'm just not sure if we can hit the $903 on this run so I'll watch for a good entry on the next retracement.
One point where I differ from you and Mish is that you guys seem to think the S&P was still overvalued at $666 with Mish calling for the $500 level. Even if the Dow was overvalued at 14k, It seems to me that a 55% drop was plenty if not a bit extreme. Nevertheless, I respect your work and never discount it even if I disagree with a point.
A –
Regarding you and Mish discussing the banks and financials. To me, it comes down to the simple truths in G. Edward Griffin's book "The Creature From Jekyll Island: A Second Look at the Federal Reserve". The banks control the money and the politicians, most of whom know NOTHING about the markets.
Therefore, their allegiance is to protect them and not the citizens. So, people need to wake up and realize that banks don't produce anything but merely put the citizens who actually are the work force and producers deep into the bondage of debt.
People can take control of their lives by getting and staying out of debt. Oh, and buy the financials like the XLF and UYG as they successfully test swing lows and you'll make money off the scoundrels.
Anibal
Agreed, one way or another, but one way will create a market with a solid floor, the other is a sinkhole
A
I think the market has some solid floor AND It's a sinkhole. From time to time, we can have proofs of both.
Today, the rules are bend to avoid a cascade of bankrupts… waiting for … whatever
At the end, for the benefit of all, It may be better to avoid a spread of the crisis… lasting until all burns out and taking decades to recover
Of course, with these measures, the weakest companies are going to receive more "benefits" (and whom can take advantage of that)
A
Scariest episode ever.
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Was not meant to be,,,,
:-0
Andrew
Linked over to this one Andrew – thanks for the good interview with 2 interesting minds.
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Terrific
Quite an interesting episode ..
Andrew
[...] can listen to the hour or so here; I am still working my way through [...]
Lately I have not heard Mish talking about Shiff's predictions. To me it looks like things are moving exactly like Shiff predicted. The dollar already started to slowly go down compared to other currencies.
I agree that fundamentals are really the main factor in trading. You know, every great technical analysis can be completely ruined in a second by a news release.