A Hedge Fund Manager’s Holiday Card
By Barry Ritholtz - December 23rd, 2008, 9:30AM
This bloody brilliant card is what a hedgie we know is sending out for Christmas:
>
Macro Notes
Consumer Credit continues downward trendPeter Boockvar
Consumer Credit outstanding fell $14.8b in Sept seasonally adjusted, almost $5b more than expected and marks the 11th month in the past 12 of declines. At $2.456T outstanding, it is 4.9% below the record high in July '08. After a flat reading in Aug, (didn't fall b/c of the CARS program), non revolving debt outstanding fell by $4.9B. Revolving (mostly credit cards) balances outstanding fell by $9.9B. To fully put into perspective today's data, look at the current level of consumer credit (doesn't include mortgages, the biggest chunk of consumer credit) relative to GDP. As of Q3, it totaled 17.2%...
read more »
The Big Picture is proudly powered by
WordPress
Entries (RSS) and Comments (RSS).
Entries (RSS) and Comments (RSS).
December 23rd, 2008 at 10:33 am
Hysterical!
December 23rd, 2008 at 10:48 am
Nice!
I’ll bet a dollar to a donut there was no check in the card, but the fund manager got his Holiday bonus… right?
December 23rd, 2008 at 10:51 am
Very Cool.
December 23rd, 2008 at 11:26 am
Looks more like the housing market to me. The stock market is much lower in 2008 than 2004. Although I like the general idea.
December 23rd, 2008 at 11:44 am
Good point — it should say 1998 – 2008!
December 23rd, 2008 at 12:04 pm
Buy and hold is for suckers and the mantra preached to the masses.
December 23rd, 2008 at 12:24 pm
Best wall st. xmas bonus I ever got: A wonka bar.
Back office ftw…
(but at least it wasn’t quite as bad as the worst birthday present I got..)
December 23rd, 2008 at 5:21 pm
That graph looks like Southern California housing prices.
December 24th, 2008 at 12:25 pm
This was mentioned on Fast Money last night
http://www.cnbc.com/id/15840232?video=975129200&play=1
At the 3:30 mark