Great Meme: Is John Paulson the New Bill Miller?

Hilarious! The comparison will be apt if Paulson continually adds to his holdings in MGM through another leg down in the stock market and the economy, culminating in a spectacular blowup.

Notice that Paulson has a TV screen behind him in that photograph. I assume that is in his office. What kind of person watches television?

Another hilarious meme floating around: the idea that the market is going to have an "upcrash," because there is so much negative sentiment that the only direction the market could logically go is up!

I swear, no one has actually read Graham and Dodd's Security Analysis. True negative sentiment is when "40% of all the industrial companies listed on the New York Stock Exchange" are valued less than their net current assets, which was the situation in 1932, as I mention in my review of the book.

We have a long way to go.