S&P

In the past we had given Tom Lee of Fundstrat, formerly of JPMorgan, a hard time for his relentless, unforgiving permabullishness, which cost investors massive losses during the 2008 financial crisis, when the S&P500 closed some 40% below his target price of 1,450, but in retrospect had been proven right during this unprecedented monetary- and debt-fuelled rally, which has taken the S&P, and global debt, to never before seen levels (such as the Dow 19,999.63) where valuations are now more absurd than at any time in history.

Submitted by Lance Roberts via RealInvestmentAdvice.com,

Tax Cut Rainbows

Last February, when Kyle Bass announced the upcoming launch of a dedicated fund to short the Yuan, as part of a bigger macro short unveiled in his report on “The $34 Trillion Experiment: China’s Banking System and the World’s Largest Macro Imbalance”, many were skeptical if not outright mocked the Hayman Capital founder.

Having gotten virtually none of his "surprise" forecasts for 2016 right - among which that the S&P will decline (after it was supposed to rise by 15% in 2015 when it closed red for the year), the 10Y will not rise above 2.50%, Hillary Clinton will defeat Ted Cruz in the presidential election, Democrats will gain control of the Senate, Chinese growth drops below 5% as the country's banks "get in trouble", crude oil remains in the $30s, and global growth falls to 2% (he did correctly predict just one rate hike, and the continuation of the European refugee crisis), today