日期:2013/05/13
A famous fixed income trader alerted the public via social media in somewhat existential terms that he was bearish on bonds stating several points after the peak of 1 week ago that the bull market was no longer intact. It elicited this thought from a old speculator. It is surprising to see someone who presumably holds many hundreds of billions of dollars long in a portfolio reveal such a thing. A big speculator I knew well often discusses his views on the market and the world state. And while he would never buy before a bullish pronouncement, he certainly would not sell. That would be unfair. And while insiders in general don't always buy before good news, they are often loathe to sell before good news is announced. Thus the surprise. This is human nature. In any case it elicited the thought "never ask a barber if you need a haircut".
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