Yesterday, when reading the latest note by JPM's "Gandalf" head quant Marko Kolanovic, we noted something strange: for the first time we observed a JPM quant not only commenting on such sensitive topics as social fairness, but daring to challenge the oligarch orthodoxy implying that Buffett is wrong that "the babies being born in America today are the luckiest crop in history."
This is what he said:
Submitted by Lance Roberts via RealInvestmentAdvice.com,
At the end of January, I discussed the potential for a reflexive rally in the markets and laid out three retracement levels at that time.
It never ceases to amaze (and amuse) us how much time big bank "economists" and "strategists" spend on Zero Hedge - even though we have never compensated said banks either directly or with soft dollars - instead of doing research, or spending time with their paying clients.
Just one week ago, it was CitiFX's Brent Donnelly who was "critical" why the financial media, supposedly, "highlights bearish stories" (perhaps has has missed the past 8 years of CNBC "reporting"... we don't know). This is what he said:
Give the people what they want
The BIS’ Claudio Borio was vindicated in January - and it was a long time coming.
One of the core aspects of mainstream financial media in general, and outlets like CNBC in particular, more so even than their chronic permabullish bias, is the seemingly endless gallery of "experts", "pundits", and other talking heads whose only requirement is wearing a business suit (in some very notable exemptions) who show up on TV, offer trade advice and recommendations - while either pitching their own trading services or hoping to offload their own existing positions - and if (or rather when) said advice leads to material losses are not heard from again until a certain period of tim