WALL STREET CONSENSUS (Positive Consensus/Bear Market Indicator): Gluttony...it's b-a-a-ck!
February 6, 2015
After 5 plus years of superior returns in the stock market, Wall Street has concluded that only now can Wall Street behave like Wall Street of yore. A quick scan shows that many of the things mainstream USA abhors about that neighbourhood are returning in force:
- Popular NYC Sports Bars like Bounce and Ainsworth turn into Sports nightclubs on Sunday afternoons. It combines bottle service, sparklers and attractive waitresses wearing referee outfits while the DJ is spinning Calvin Harris. Football also happens to be on in the background. Table minimums are twice last year’s asking price.
- The burlesque scene is thriving. From Sapphire Gentlemen’s Club in NYC, “In 2014, our table service business is up 44 percent year over year. The SINS party (a VIP party) has increased our Sunday business by 153 percent. New York City caught on and Wall Streeters have joined the fun.”
- No spending spree is complete with a nice ride. A salesman at a high-end car dealership in Manhattan that specializes in selling Bentleys, Rolls Royce and Lamborghinis (that range from $100,000 to $500,000) said that the fourth quarter was his "best quarter ever." "I am very optimistic for the first quarter of 2015. I have had many customers tell me they are going to pull the trigger once they get their bonus," he said. "I even had a guy that told me he was looking to pick up two cars."
Welcome back gluttony.