Shorters peril, page-18

Ha ha. I hadn't seen this. Little tip. If you want to taunt people, you need to ues the @ symbol, or they won't know they are talking about them.

I reduced my short on the cap raise and have increased again recently. Nice hedge for far better priced overseas investment banks I hold/held.

Lets have a little look:

Macquaire P/E 20 times forward earnings
Morgan Stanley P/E 12 times forward earnings
Deutsche Bank P/E 8 times forward earnings

I've made the mistake of going short pre-COVID using futures, rather than shorting over-valued equities. This big ole' Fed led bubble, I am not making the same mistake. Just pick some of the most over-valued stocks in different sectors.

You'd be hard pushed to find a higher over-valued investment bank in the world than Macquarie. Great company though, hence management called the top with an equity raise rather than adding to their already hefty debt burden on which they are watching wholesale costs rise globally.

Now remind again, what was the low only 20 months ago? $67.70??

I didn't pick the low in Macquarie, bought in far too early. I did on my short future unwind though. Sold out of Macquarie far too early on the rally though. I sleep at night knowing I am not riding US exuberance and unimaginative Aussie Super fund managers.

This US mkt is a bigger bubble than 2000 and 2008, now entirely created by the Fed and the Reddit army. Excuse me if I start shorting a few higher valuation stocks against the many under-valued stocks I own. MQG can recognise the end to a 13 year falling interest rate environment. It appears the market cannot.