Hedge Fund Legend Shares The Secrets Of His Greatest Trade: RealVision Interview

 “I thought there must be something more virtuous, more ennobling to do with one’s life than make rich people richer” – Michael Steinhardt


In a recent interview with RealVision, the “dean of financial reporters” Jim Grant, publisher of “Grant’s Interest Rate Observer”, interviewed Michael Steinhardt, a member of the old guard of hedge-fund titans, about his views on markets and the hedge fund industry. And he’s certainly qualified to have an opinion: Steinhardt achieved, during his more than 30-year career, a phenomenal return, and those who invested $1 with Steinhardt in 1967 would have $481 in 1995, compared to

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“World’s Most Bearish Hedge Fund” Has An Alternative View On Yuan Weakness, With “Profound Implications”

Like David Einhorn, Horseman Global had a very ugly month, in fact its 6.9% drop in June which dragged YTD performance back into the red (-2.83% YTD), was the worst month for Horseman going back to the end of 2016.

However, unlike Einhorn, who lost 8% in June bringing his YTD performance to -19% and whose woes can be mostly attributed to the relentless rise of the tech names that make up his “short basket”, Horseman was hit due to something else entirely: its aggressive short dollar bet. Like so many other funds who turned bearish on the greenback at

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PCR: “There’s No Sign Whatsoever Of Any Evidence” In The ’12 Russians’ Indictment

Authored by Paul Craig Roberts,

Trump Should Fire Rosenstein Immediately

Does Deputy Attorney General Rod Rosenstein’s indictment of 12 Russian military intelligence officers for allegedly hacking Hillary’s emails and interfering in the US election have any purpose other than to throw a monkey wrench in President Trump’s upcoming summit with Putin?

...read more

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VIX Shorts Surge But ‘Summer Of Disequlibrium’ Anxiety Is Everywhere You Look

A surge in trade war talk and a brief tariff tantrum has done nothing to slow the roll of the market’s most-leveraged longs.

In fact, as VIX ignored the rise of Trump’s trade war that the world and their pet rabbit believes will crash the global economy and bring fire and brimstone from the earth, VIX futures traders have piled back into their shorts… ...read more

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“Fed Up Populace” Warns San Franciscans “Watch Your Backs… For Homeless People”

An anonymous San Francisco resident took out a full-page ad in the San Francisco Chronicle Friday claiming an encounter with a homeless man at a Neiman Marcus cafe left her feeling “horrified.” 

The ad first noted by Business Insider reads “WATCH YOUR BACKS — NOBODY ELSE IS ….as if stepping over used syringes and filth in Maiden Lane wasn’t bad enough….” 

The woman then goes on to detail the incident in which she says that a “psychotic homeless person” was opening and closing scissors “erratically” behind her which made her fear for her safety while trying to enjoy her lunch. 

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An Arizona Lawmaker Thought Speeding Was OK Because of His Legislative Immunity

An Arizona politician has been caught on camera bragging that he’s exempt from the law. The body-cam video, first shared by Parker Live Online, shows a sheriff’s deputy speaking with state Rep. Paul Mosley (R–Lake Havasu City) after pulling him over for speeding.

“I informed Mosley that 97 mph in a 55 mph zone is considered criminal speed,” the deputy wrote in his written report. “Mosley stated he was just in a hurry to get home to surprise his family in Lake Havasu City, Arizona. Mosley also told me that I should just let him go and that I

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Russian Suing Over Steele Dossier Says Mueller Hacking Indictment An “Utter Vindication”

A Russian venture capitalist and tech executive accused in the Steele dossier of “using botnets and porn traffic” to conduct cyberattacks on Democrats says that Friday’s indictment of 12 Russian nationals for hacking the DNC is an “utter vindication,” reports the Daily Caller.

Aleksej Gubarev, owner of global tech firm XBT Holding – which owns Dallas-based Webzilla, is currently suing BuzzFeed News for defamation for failing to properly investigate the dossier’s allegations before publishing the 35-page document – which include the claim that Gubarev was “recruited under duress” by Russia’s Federal Security Service, the FSB.  ...read more

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Gave: “Today The US Is Telling The World We Don’t Want To Give You US Dollars Any More”

Via Evergreen Gavekal blog,

“Dear America, appreciate your allies – after all, you don’t have that many.”

-DONALD TUSK, European Union (EU) Council President on Tuesday ...read more

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Bezos Slashes Price For Space Travel – Blue Origin Flights To Cost ‘Only’ $200,000

Jeff Bezos’ space-travel company Blue Origin is preparing to sell its first tickets to wealthy wannabe space tourists as the company vies with Richard Branson’s Virgin Galactic and Elon Musk’s SpaceX to become the first to market in the commercial space-travel industry. According to Reuters, Bezos’ price is an altogether-not-unreasonable $200,000, and if that estimate holds, Bezos will effectively have undercut Branson (who is charging roughly $250,000 for a seat on Virgin Galactic space flights) as the “everything store” founder and CEO takes his “Amazon-ing” pricing strategy to the stars. Despite the tremendous cost of a ticket, analysts

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