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Chris DeMuth Jr.
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"It's not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it - who look and sift the world for a misplaced bet - that they can occasionally find one." - Charlie Munger I look... More
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  • Chart Of The Day – Wednesday, September 11, 2013 5 comments
    Sep 11, 2013 10:06 AM

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: Chris DeMuth Jr is a portfolio manager at Rangeley Capital, a partnership that invests with a margin of safety by buying securities at deep discounts to their intrinsic value and unlocking that value through corporate events. In order to maximize total returns for our partners, we reserve the right to make investment decisions regarding any security without further notification except where such notification is required by law.

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Comments (5)
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  • Brandon Gibbs
    , contributor
    Comments (225) | Send Message
     
    Yikes..
    11 Sep 2013, 12:37 PM Reply Like
  • aretailguy
    , contributor
    Comments (1292) | Send Message
     
    Well, all that money must go somewhere. This just will not end well....
    11 Sep 2013, 04:18 PM Reply Like
  • TimeOnTarget
    , contributor
    Comments (2945) | Send Message
     
    Chris --

     

    That chart is a jaw dropper. Of course, it makes perfect sense when you think about it, but I initially had the same type of reaction that aretailguy did -- a sense of foreboding.

     

    Of course, if I had been smart enough to find and short TMF at the beginning of the year -- or at least smart enough to follow your lead-- I wouldn't be feeling that way about it I suppose. I refinanced our house in November 2012 because I was sure rates wouldn't go lower. You would think that I would have been able to make the next logical connection out of that--especially with you explaining it.

     

    Think it is too late to short TMF??? The prices would still seem to have long way to drop, even with the stock's 35% slide this year . . . .
    11 Sep 2013, 08:27 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4830) | Send Message
     
    Author’s reply » No, I do not think that it is too late to short TMF.
    11 Sep 2013, 08:35 PM Reply Like
  • Sp3c
    , contributor
    Comments (28) | Send Message
     
    Thanks for sharing this..it definitely puts things into perspective.
    11 Sep 2013, 08:46 PM Reply Like
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