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starbucks4ever (98.28)

Bye, IBN!

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March 03, 2010 – Comments (5)

CAPS and real-life portfolio rebalancing continues. Today I was happy to close my IBN pick, winning my 5 points. I have vowed to get rid of all foreign stocks with a single exception for Airstrip One (a category into which I also, politically incorrectly, include AIB and IRE), and so I happily took a small profit on IBN and said good-bye to it. I have nothing but admiration for IBN as a company, it's an excellent bank in an excellent country, but I cannot hold in this market because it's a foreign stock. I had to exit it because the only way to play this game that makes sense to me is by going long USA and shorting everything else. I still have a few foreign picks that I've been unable to close because they're underwater, but I have no doubt that sooner or later the natural market volatility will provide me with a suitable exit point for most of them. 

5 Comments – Post Your Own

#1) On March 03, 2010 at 4:05 PM, AndreylikesMTL (98.52) wrote:

You are the USsupremacist! aren’t you?

You will get a lot of support

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#2) On March 03, 2010 at 4:05 PM, AndreylikesMTL (98.52) wrote:

You are the USsupremacist! aren’t you?

You will get a lot of support

Report this comment
#3) On March 03, 2010 at 4:25 PM, catoismymotor (33.56) wrote:

I'm not trying to be an a-hole when I ask you to explain your decision. I am curious to know the thoughts behind your conclusion.

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#4) On March 03, 2010 at 6:31 PM, starbucks4ever (98.28) wrote:

 AndreylikesMTL,

I am a US supremacist at this point in time, at this market valuation. I will short the US market without mercy when we hit the dot-com valuations again, and I will load up on emerging market stocks after China crashes, which I expect to happen rather soon. By the way, that includes Russian stocks as well. I seriously mean to buy WBD and VIP at $4 a share a couple of years from now. 

P.S. Any thoughts about Putin's criticism of Prokhorov? What's your target for RSX for the next day after Prokhorov joins Khodorkovsky?

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#5) On March 04, 2010 at 12:11 AM, starbucks4ever (98.28) wrote:

catoismymotor,

These countries don't want to succeed. All they want is to satisfy some ridiculous monetarist dogma, and to get a reception at the Washington Party Committee. Work for free, ship the goods produced to America, get some worthless piece of paper, and keep repeating to yourself Arbeit macht frei - this is the best idea their "economists" have produced over the last 50 years. They will fail.

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