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For the 15 years through 2012, Laurent has outperformed the market with 16% annual returns, compared to 5% for the market. Laurent's international career has stretched through US and Europe. He earned an MBA from Boston University and an MS in Engineering from RPI.
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Longs, Shorts, and Mini-Skirts
  • Jobs Report Means Further QE 0 comments
    Feb 10, 2014 9:46 PM | about stocks: UUP

    January added 113,000 jobs to the economy. These were the weakest two months of the past year, so the perception is that further Fed stimulation will be required. This means that QE must continue to inflate the asset bubble in an attempt to perpetuate the "wealth effect". This "wealth effect" is the phenomenon where people look at their portfolios and see that their paper profits are increasing. Thus, they increase their spending on leisure items like restaurants, home improvement and vacations.

    This is all an illusion, however, because the inflation eats away at the buying power. Normally, at this time, prices would be decreasing due to people cutting back on spending to save for their retirement. However, the Fed is preventing this natural process from working out our past excesses. This isn't healthy.

    The unemployment numbers were only a part of what plagued the dollar. The dollar (UUP, rated "hold") fell all week as commodities rose. People are rushing to sell their dollars for hard assets. All this is also due to the Treasury Department's printing presses running full speed.

    Disclosure: I am long UUP.

    Stocks: UUP
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