I hated Monday morning. Hated, hated, hated. And, even though it was just a few days ago, it’s clear that the assumption behind the mega-rally was as follows:
- Pfizer’s Covid-19 vaccine is 100% effective;
- It will be distributed immediately;
- 100% of the population will take it;
- People will immediately return to living precisely as they were living in December 2019.
Bullshit, bullshit, bullshit. Every single one of those things is absolutely false.
Allow me to remark in the same order:
- If this is so great, how come the CEO dumped most of his stock right after the announcement, and Pfizer stock has lost almost all those gains?
- It will take many, many months (if not years) to distribute it widely;
- BWA HA HA HA!!!!!!!!!!!! Do I even have to address this? How about 15%? Maybe 20%?
- And this……….THIS……………is the most monstrous horseshit of them ALL. Sure, a few good ol’ boys will strut around in their overalls, get in their trucks, say YEE-HAW and pretend nothing happened. But the psychological damage and the CHANGED HABITS are here to stay.
Take my own life (please!) I used to spend six figures a year on travel. How about the this year? ALMOST ZERO! How about next year? Maybe a few thousand bucks? I am traveling to DICK, people.
You can see how this is kind of occurring to people now – – we ain’t gonna return to the movies………
We ain’t gonna stay in hotels and roll around in beds that 30 different people have been on during the past couple of weeks……..
And we sure as shit aren’t getting on board a gigantic boat with a thousand morbidly obese people shoving food into their faces at the 24-hour buffet:
This entire thing is absurd and preposterous.
If you think we are going back to normal – – EVER – – I’m afraid you have been sold a bill of goods. The market is massively, massively, MASSIVELY over-valued, and in spite of what the good, honest people from Goldman are saying about the S&P going to 4600, I would suggest to you that it ain’t gonna be so.