Juliet Chung and Carolyn Cui — Hedge Funds Versus Nascent (Communist) Superpower

Some of the biggest names in the hedge-fund industry are piling up bets against China’s currency, setting up a showdown between Wall Street and the leaders of the world’s second-largest economy.

Kyle Bass’s Hayman Capital Management has sold off the bulk of its investments in stocks, commodities and bonds so it can focus on shorting Asian currencies, including the yuan and the Hong Kong dollar.

It is the biggest concentrated wager that the Dallas-based firm has made since its profitable bet years ago against the U.S. housing market. About 85% of Hayman Capital’s portfolio is now invested in trades that are expected to pay off if the yuan and Hong Kong dollar depreciate over the next three years—a bet with billions of dollars on the line, including borrowed money.… 

Across the Curve
Hedge Funds Versus Nascent (Communist) Superpower
Via the WSJ:
By Juliet Chung and Carolyn Cui

Was I right or was I right? Stupid eventually sinks to the bottom.

Back in 2012 I wrote an article about hedge fund little boy, David Einhorn.

(Click on the image above to read the entire post.)

In that post I talked about how Einhron was at some conference and made some really stupid idiotic comments like these:

"Norway is the only country in the world which can finance itself."

"China is misunderstood and is not an investment opportunity because it doesn't have enough money to feed the economy."

Norway can "finance" itself? Yeah, um, is that a revelation? (He's right, but for the wrong reasons.)

And China doesn't have enough yuan? Is he serious?

I think at that conference or shortly thereafter Einhorn announced that he had a huge position in gold because he said that he had dinner with Bernanke and was scared shitless at the answers to the questions he  posed to the former Fed Chairman. His thoughts went something like, "Wow, all this QE and 'money printing' is going to create hyperinflation."

Right...he didn't even BEGIN to understand monetary operations. Nothing. Nada. Zilch. Totally fucking clueless.

And NOW we see this:

Hahahaaha!!!!!!! The gods have delivered!!

Einhorn has deservedely been slaughtered in gold. He's Schiff with a bigger purse and maybe not for long!

These guys are the worst...the absolute, worst. As far as I am concerned they cannot lose money quick enough. If governemnt won't "euthanize" them, which they won't, then maybe they'll just die off from their own stupidity. But that's probably wishful thinking because I'm sure they'll  just get their bought politicians friends to enact laws and policies that force their victims to pay them back for all their losses.

Yes, Einhorn's a billionaire and for the life of me I will never be able to figure out how that happened. If Einstein were alive today he'd have trouble with that, too, and by the way, Albert Einstein was arguably one of the smartest humans to ever walk the planet, but he made like $60k per year in today's money. Just sayin'.

What irony...Einsten and Einhorn. The names sound very similar, but BOY, what a difference.

The "fabulous" life of hedge funder David Einhorn? Really?

Businessinsider ran a story on the "fabulous" life of David Einhorn. Oh really? Well here's a picture of his wife.

Sorry, I'd rather be Tom Brady.

Einhorn's just another spoiled little rich kid with a hedge fund who has a knack for conducting bear "raids" on good companies, just like his friend, Bill Ackman. I had him on my radio show once and grilled him over his attack on Allied Capital. The firm ultimately succumbed, but not before a protracted fight.

And when it comes to economics Einhorn is an idiot who spouts the same debt-doomsday/gold standard nonsense like all the other clueless hedge funders.

Personally, I'd like to see guys like Einhorn taxed to death with the money given, that's right, GIVEN, to regular working folks. But of course, that's never going to happen.