Friday, November 01, 2013

Jeff Gundlach's Presentation at Invest For Kids Chicago

•    FDR is a parallel to Obama.  Government – federal, state, and local – costs too much…  New Deal
•    FDR inauguration in a banking panic
•    FDR blamed bankers immediately
•    FDR sent congress a record numbers of bills
•    FDR “try something” & the new slogan is “whatever it takes”
•    Record corporate profits – will they catch the attention of the tax man?
•    FDR raised the marginal tax rate to 100% (500,000 equivalent in today’s dollars)
•    Dynamite shack – sounds like quantitative easing
o    For now the dynamite keeps getting stuffed into the plastic shack
•    Synonym for early is wrong
•    Interest rates are low but don’t have to rise in the near term
•    FDR confiscated gold and the Fed now explains things are “the policy”
•    Speculation at the expense of savers
•    US margin debt is borrowing at the purpose of speculation – mirrors S&P 500
•    Currently alarmingly high
•    Lunch atop a skyscraper
•    Amazon with no earnings, Netflix, Tesla
•    Advice: do not get sucked in to QE and remember ocean of liquidity and risk manage accordingly 

No comments:

Lunch is for wimps

Lunch is for wimps
It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.