I’m Calling the Top, today. My ten signs:
by Kaiser Edamame- Shares of Odyssey Marine Corporation (NYSE: OMR) recently doubled when they announced they found sunken treasure.
- Microsoft (NASDAQ: MSFT) (supposedly smart people) paid 38x EBITDA for a company that has half its earnings from a product that Google will probably offer for free.
- Sotheby’s (NYSE: BID) stock price has predicted the last two recessions and is predicting another any second:
- Dog Yoga
- Shares of the Berlin Zoo (BBERG: ZOO.GR) recently doubled due to the birth of a baby polar bear named “Knut“.
- Private Equity firms in search of stable cash flows are buying Qantas and Iberia – they are airlines. In case you’ve been dead for the last 50 years, airlines are not in the steady cash flow business.
- Blackstone, a company built on the advantages of private vs public ownership, is going public.
- Actual NYTimes headline: “At Cannes This Year, the Bankers May Outnumber the Movie Stars”
- Michelangelo Volpi left his position as the head of an $11 billion division of Cisco (NASDAQ: CSCO) to become the CEO of startup Joost, which just raised $45mm of VC funding. And he isn’t crazy since Joost will likely be acquired for $40 billion in 2 months, or roughly 5 billion times revenue or negative 30 million times their projected 2010 cash flow.
- Chinese solar company LDK Solar traded down after its IPO. That was a disappointment since two weeks ago China Sunergy shot up 51% after its IPO. In fact, there have been 9 solar-cell IPOs since Dec05 with yet another — Yingli Green Energy Holding — coming this week. Point of interest: LDK’s CEO was a shoe salesman 5yrs ago. Today he is worth roughly $1bn.
Addendum: Ours go to 11.
11. China.
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Well, when you put it like that…
Get your QID now, or double down if you’ve already been run over a few times like i have…
Also doesn’t a massive PE firm taking itself public qualify as a glaring sign of a top?
How is finding $400mm of sunken treasure and airlifting to Key West another $500mm in bullion not cause for a market cap increase by a sunken-salvage ship firm?
Secondly, they are really worth much more than that for Mini-Balla status alone.
‘I bid $10000 cash for a night in the VIP room’
‘I bid my AmEx Red card’
“I bid 100 golden doubloons I dug up off the coast of Panama, value $60k [insert large number here]”
Now, who is the most Balla??
unrelated, but i’m sure one of u can come up with a good post around this http://abcnews.go.com/Health/Cosmetic/story?id=3212910
Wow. Perhaps this is not only the top of the market, but also the end of the world.
Good news for Satan’s Portfolio.
It’s probably the end of the world when Hyundai tops a US survey of automobile quality.
http://businessopinions.blogspot.com/2007/06/another-sign-of-apocalypse.html
i dont get the union one. sorry, expliquez s’il vous plait.
Smoke- Yes it does. We have restated the article.
bothersome- See our restatment from above.
Signs Of A Market Top…
The blog Long or Short Capital is often hilarious, and sometimes it can be quite informative. At its best, it’s both. Its recent post outlining 11 signs of a market top is a pretty awesome read (reason #4: Dog Yoga)….
What did you do with the Dow Jones-WSJ-Murdoch one?
That was funny.
But perhaps less consistent and the result of weak editing by people not named Juggles.
[…] funny post outlining the reasons that Long or Short Capital’s ‘Kaiser Edamame’ says we topped . I am not interested in these lists in general. There are hundreds of reasons to be scared of this […]
did someone say the end of the world. Let us not be Cramers here but that was a great post.
Five years later, Odyssey was ordered to return the treasure to spain: http://www.bloomberg.com/news/2012-02-17/odyssey-marine-ordered-to-hand-shipwreck-treasure-to-spain.html
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