BAD WEEKEND FOR MOI

"So, when  did you get stupid?"

"Hello, Max, Mind if a wake up."  Mad Max rang at 7:30 am Saturday.  He rarely calls.

"I said when did you get stupid.  What the hell was with that puff piece you wrote on Morgan yesterday?

"It wasn't a puff piece; I was trying to explain what probably happened."

"Come on you made those clowns sound like Mother Theresa.  There the biggest bunch of phony(%&*#%^&* on the street.  Always were.  Hedge fund sucz buckets.  They'd short their mother for an 1/8th."

"Ida whatshername?"

"Nah, she's ok.  She got bagged.  She was watchin' real close and they handled her."

"You know that for sure?"

"For sure?"  Nothin' in this business is for sure.  Like I said when did you get stupid.  Look, if you don't think I'm right let me ask you a question;  what happened?"

"You mean with the trades?  Hell I don't know.  Morgan hasn't explai..........oh damn, I see what you mean."

"Way to go genius, you figured it out.  No explanation because they don't know.  THEY GOT BAGGED!  Ida baby took her eye off the ball and they gamed her.  And the great thing is this Whale guy has got full employment until he unwinds this thing.  Hell, he'll probably renegotiate his bonus because the SOB is the only one who knows what he did, and the only one who can work it out and if he  wants to, he can REALLY screw them."

"And you love it don't you"

"LOVE IT?"  Take me now, it doesn't get any better than this!  But Charlie, no more being stupid, ok?   I don't like my friends being stupid."

"Ok, Max, but you're still in the game doesn't it bother you what happens in D.C.  because of this?

"Charlie STOP being stupid ALREADY!  This is great!  Those idiots will try to stop what happened from happening again and write something so stupid we'll drive a truck through it.  They didnt have a clue before this and now they will have even less of a clue.  I'm tellin' you, God could take me now except for all the money this is goin' to make me in the next couple of years."

Max was born a trader...the son of a trader if you must know.  His favorite saying was, "I just have to be right 51% of the time."  He's been right a heck of a lot more than that but either way, you would never know.  Is he right on this?  Could be but all I really know is that I don't want the other side of his position.