"Back to back crisis?" - Simon Johnson; Jan. 7, 2010 (5min.)

[LargoWinch]

"Simon Johnson, an economist at MIT Sloan School of Management, says the crisis is just beginning." He says, "We are setting ourselves up for an enormous catastrophe."

Runtime: 5min.

[LargoWinch]

Re: "Back to back crisis?" - Simon Johnson; Jan. 7, 2010 (5min.)

While on the subject, here is another well known fella saying the same thing:

When [not if] is the next crisis going to happen?

[Down Under]

Re: "Back to back crisis?" - Simon Johnson; Jan. 7, 2010 (5min.)

While on the subject, here is another well known fella saying the same thing:

When [not if] is the next crisis going to happen?

So, Largo, when are you going short? As much as I'd like to, in the asylum markets, it's clearly a gamble.

It seems hard to see 2010 passing without a crisis somewhere.

[LargoWinch]

Re: "Back to back crisis?" - Simon Johnson; Jan. 7, 2010 (5min.)

So, Largo, when are you going short? As much as I'd like to, in the asylum markets, it's clearly a gamble.

It seems hard to see 2010 passing without a crisis somewhere.

Good question. I have no equities short at this time and did not have any in 2009.

Oddly, I think "being short" nowadays means being long Gold and that is what I do.

[Down Under]

Re: "Back to back crisis?" - Simon Johnson; Jan. 7, 2010 (5min.)

Good question. I have no equities short at this time and did not have any in 2009.

Oddly, I think "being short" nowadays means being long Gold and that is what I do.

I took a small short position based on EJ's 40% drop call by end of 2009, buying some puts on CBA, one of our big 4 banks. Puts don't expire until end of February but at this stage my expectation is that they'll expire worthless.

Yes, I'm definitely long gold; as far as I can work out, only safe place to be.

[jpatter666]

Re: "Back to back crisis?" - Simon Johnson; Jan. 7, 2010 (5min.)

I took a small short position based on EJ's 40% drop call by end of 2009, buying some puts on CBA, one of our big 4 banks. Puts don't expire until end of February but at this stage my expectation is that they'll expire worthless.

Yes, I'm definitely long gold; as far as I can work out, only safe place to be.

Some of my puts expired. Others expire this month or March.

I'm thinking of closing the March puts and extending them out (at a higher strike price) towards the end of the year, but am not convinced yet on the timing. LOTS of bearish noise out there, but there has been ever since August. Nothing has really come to pass.

The question for me is can any event be papered (printed) over -- most of them can and that's why (IMO) nothing has yet occurred. I like Fleckenstein's position of trying to take advantage of money-printing. No matter what happens -- that's the future.