GURU OUTLOOK: PAOLO PELLEGRINI – this is the guy who helped Paulson short subprime – … He says we are essentially papering over the problems with more debt. We are simply adding more debt to a debt-laden world while China adds more exports to a saturated market. He says the problems in Europe are a harbinger of these continuing issues. Thus far the massive stimulus has been successful in jumpstarting the global economy, but is nothing more than a temporary respite from the longer-term structural problems that remain.
Pellegrini’s favorite trades in 2010 are the following four:
Short US fixed income
Short US equities
Short US dollar
Long commodities
The Pragmatic Capitalist
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Sorry Merkel, The Bond Market Just Called Your Bluff – Vincent Fernando – Money Game at Business Insider
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Why We’re on the Slow Boat to Nowhere – Submitted by madhedgefundtrader – Brace yourself. Nothing is going to happen. A portfolio manager’s worst nightmare, and a trader’s dream come true. Selling out of-the-money-strangles, last year’s suicide trade, could be this year’s steady earner. The VIX will continue to bleed to lower levels. Hiding out in the currency crosses. (SPX), (FCX), (VIX), (USO), (GLD), (TBT), (TBF) – Zero Hedge
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Pimco’s El-Erian: We’re halfway through a ‘multiyear resetting of the global economy’ – By Drew Carter – Investment News
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can we afford this? – Golden years – Time spent in retirement has sharply increased – From The Economist online