Jay Carney and the White House: the global macro-stock pickers extraordinaire.

The BBQ Pit
1

Exhibit A, March 19th.

“I wouldn’t – I wouldn’t, if I were you, invest in Russian equities right now… unless you’re going short.”

The broad MICEX index on March 19th, around 1300.
RTSI index on March 19th, around 1050.

Exhibit B: June 27th.

The broad MICEX index at EOD on June 27th, 1477.
RTSI index at EOD on June 27th, around 1379.

So, roughly speaking, if you shorted Russian equities on the White House advice, you’d lose about 13% of your investment in 3 months.
In the same timeframe, the RUB soared against USD.
Now, of course, your question is whether it’s too late to invest in Russian equities. Not at all. Russian stocks are still cheap, there might be a short recession in the next quarter or two, but that’s already priced in. Or you can follow the White House advice…

2

PS. It appears one would’ve done rather well, shorting Jay Carney on March 19th. It appears the amazing prognosticator has been fired (or quit) shortly after making his stock call…

3

So how much did you lose?

4

I take my Russian investment advice from Barney Ruble.

5

Well then, I guess it’s just as well he doesn’t work on Wall Street or on the Fed Board.

As “stealth” partisan sniping goes, this one is weak sauce.

6

I’ll just let Dusty Rhodes and Cowboy Bill Watts speak on this…

7

In Soviet Russia, stock splits YOU.