Joshua M Brown

When the flood comes

 . . . on that day all the fountains of the great deep were broken up, and the windows of heaven were opened. And the rain was on the earth forty days and forty nights… All flesh that moved on the earth perished, birds and cattle and beasts and every swarming thing that swarms upon…

“A Cesspool of Rotations”

This morning’s Thundering Word note at Merrill Lynch contains an interesting passage about the litany of “pain trades” that have blown up as the end of the “max liquidity” regime has wreaked havoc in some of the most crowded areas of the market… A “Cesspool of Rotation” 2015 asset returns have been none too shabby:…