Are you about to get COREzined by BURNanke?

If you have bought the party line, believe in tooth fairies, central banker fairies and bank deposit insurance, and especially if you are long and think like the one celled organism (no offence to 1 special reader of my blog) from the Bloomberg video posted earlier today…then you are likely about to feel the meaning of the two particular words: "tail risk" and “corezined”. BURNanke has obviously our COREzined even COREzine himself and we are about to see how it all plays out and if the fairies will come dancing down the isle to further suspend reality.

There are signs everywhere, VIX, High Yield bonds, US treasury interest rates, rates versus equities, JGB’s, ECB’s, divergent new highs, technicals and fundementals…TAIL RISK is not fun people have forgotten that it even exists…and that about usually when it rears its ugly head and reduces 6 months of gains to losses in a matter of days…when it happens is not predictable but in this environment it seems to me the “IF” is not in question. We certainly know that with BURNanke’s record of being aware of what is going on combined with his adept ability to get just about EVERY single forecast wrong, I guarantee that he most certainly can not see anything coming at all that is about to happen.

If its not clear by now, I think it should be obvious that investors need to distrust all the famous beards...