Wednesday, June 06, 2007

Long or Short Capital calls the Market Top

Their data points are pretty compelling in the way that they point to an imminent market correction.

Long or Short Capital: I’m Calling the Top, today. My ten signs

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.

By the way, this coincides with a comment I made privately that I know that the Alberta Real Estate sector is going to cool off and correct any second now. My key indicator: someone I know who is a lifetime butterfly chaser with a bad case of Get-Rich-Quick Fever has publicly declared that they are going to get their Real Estate licence and become a realtor. Given that this person is batting .1000 for having everything they touch turn to shit, I can safely predict the market top in Alberta Real Estate will be the week before they get their licence.

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