As soon as he can find a nice storefront for rent on Wall Street, Ming plans to open a dry cleaners. He stands to make a fortune dry cleaning the suits of all the hedge fund operators who are puking up their positions. It will only get worse as their investors scramble after year end to bail out after the next 90 day quarterly waiting period that many funds require before they give back what's left. All that deleveraging in a declining market only exacerbates the losses. All this will be punctuated by short and violent upswings which are the hallmark of a secular bear market. They will gut the greedy grabbers of the proverbial falling knife. Ming will hold his Dendreon since it's fate is tied to an event exogenous to the Market's machinations.
Oct 23, 2008
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