Smoke, Fire & Mirrors (Tesla,HYG,DIA)


Executive Lounge, Wall Street Elite

The market is a perfect mirror of the mindset of the nation. (Tesla)     It’s not so complicated, really.   Consider: in the 1920’s a powerful liberal, even libertine trend prevailed in the personal sphere, an escapism, you could call it, and an exaggerated belief in debt financing and the constant growth required to […]

July 12, 2016

Spy vs. Spy (HYG)


Executive Lounge, Wall Street Elite

We once imagined a story-line for a movie we were certain would make a runaway box office hit. It pitted a pair of politicians running for President, but unbeknownst to all but the two – they were both spies!   One was a Russian agent, blonde, good looking and funny, the other a Mexican charmer, […]

March 9, 2016

Follow the Leader (HYG, FB)


Executive Lounge, Wall Street Elite

We’ve got a hoard of trades to run down today, as last Friday’s options expiry ushered in a bevy of new results.  We start with our HYG trade from October. Sharpen your pencils and take out a fresh sheet of paper, ‘cause here we go… On the 27th of October we wrote a letter called […]

March 25, 2015

Assuaging Your Worries (XHB, GS, HYG)


Bourbon & Bayonets

The greatest risk any investor faces in a bull market is jumping early. We therefore want to dedicate this letter to reassuring you that despite all the noise, the bull is strong. And for those who are, indeed, considering selling – and even more for those who’ve yet to climb aboard, we say – We […]

February 19, 2015