I’m Calling the Top, today. My ten signs:

by Kaiser Edamame
  1. Shares of Odyssey Marine Corporation (NYSE: OMR) recently doubled when they announced they found sunken treasure.
  2. 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.
  3. Sotheby’s (NYSE: BID) stock price has predicted the last two recessions and is predicting another any second:
  4. Dog Yoga
  5. Shares of the Berlin Zoo (BBERG: ZOO.GR) recently doubled due to the birth of a baby polar bear named “Knut“.
  6. 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.
  7. Blackstone, a company built on the advantages of private vs public ownership, is going public.
  8. Actual NYTimes headline: “At Cannes This Year, the Bankers May Outnumber the Movie Stars”
  9. 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.
  10. 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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  1. June 6th, 2007 | 11:08 am

    Well, when you put it like that…

  2. Smoke and Mirrors
    June 6th, 2007 | 12:16 pm

    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?

  3. Zimbabwe Ministry of Finance
    June 6th, 2007 | 1:51 pm
  4. miami
    June 6th, 2007 | 1:54 pm

    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??

  5. john
    June 6th, 2007 | 2:13 pm

    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

  6. To The Hilt
    June 6th, 2007 | 2:20 pm

    Wow. Perhaps this is not only the top of the market, but also the end of the world.

    Good news for Satan’s Portfolio.

  7. June 6th, 2007 | 3:25 pm

    It’s probably the end of the world when Hyundai tops a US survey of automobile quality.


  8. June 7th, 2007 | 4:44 am

    i dont get the union one. sorry, expliquez s’il vous plait.

  9. June 7th, 2007 | 9:27 am

    Smoke- Yes it does. We have restated the article.

    bothersome- See our restatment from above.

  10. To The Hilt
    June 7th, 2007 | 11:00 am

    What did you do with the Dow Jones-WSJ-Murdoch one?

    That was funny.

  11. June 7th, 2007 | 11:20 am

    But perhaps less consistent and the result of weak editing by people not named Juggles.

  12. forex blogger
    April 1st, 2008 | 8:57 pm

    did someone say the end of the world. Let us not be Cramers here but that was a great post.

  13. The Paleofish
    February 18th, 2012 | 5:47 pm

    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