So [[BAC]] steps in to buy the bag of shit Mozilo built, and you think it’s 1998 again?
Seriously, some of you guys are fucking retarded and have no business speaking, or thinking about speaking, to “The Fly.”
No one ever said making immense coin was easy. The market will try its best, everyday, to trick investors.
When things look bad, the market goes up. All of a sudden, the markets roars higher, it’s time to sell. Misdirection at its best.
Look at the airliners. Just the other day, they all looked like hell on a bullet; now they’re ripping the heads off the bears–medieval style.
Some of you are all worried about [[FXP]] going lower and shit. However, “The Fly” has done significant homework on the components of FXP; and he can tell you, if properly motivated, they are 50% overvalued—based upon historical valuation comparisons.
For fucks sake, some of their banks are trading 60x earnings.
Finally, I do not believe the CFC-BAC news will carry much water. Look for a take-under and resumption of asshattery.Keep in mind, none of these deals will help Joey Bag-o-Donuts pay his mortgage.
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Spot on, fucker. Everything is unfolding as planned.
There are gaps to fill, and they will get filled, and then there will be more bad news, and then…plop.
But that money manager on CNBC said this is like 1998. Money managers on CNBC never lie …..
Nothing like 1998.
It’s not even a comparison.
More like 1990, but worse.
10-15% annual decline in the indices is in order.
I’ve never said we will drop off a cliff–just a small perch.
i hate to say it, cuz i am a perma-bull of sorts, but i agree with your assessment fly.
and that makes me sad.
Fly, you are spot on, comparing this to the Asian crisis of 1998 is an insult even to Joey Bag-o-Donuts. Listening to the financial media will make you stupid.
yea boy
I think so.
FXP+
Fly – time for a drive
go see ‘Into the Wild’
Well “The Fly” thinks cutting interest rates will help float this sinking boat longer term and do nothing short term … hmmmm
So what is a man to believe ?
But to side with the Fly what the hell does a currency crisis have to do with a equity bubble in china ? 1998 ? retards indeed …
reposting b/c this is apropos
Amex pulling the big assfucc on the financials in the AH. AS I said yesterday,the retail was gonaa fistfucc the cows.. they did, but then the shitbomb from the Helicpoter and the Tanned One. BAC thinks it trickfucced the grizzlies, but when the fund boys are doing their next round of allocations, guess who is going to get tricfucced, Mr. Lewis. Did you just buy a shithouse with a 7% non performing portfolio. And that’s before the layoffs start rolling. Ken, i can dump the whole shit kiboodle in ten minutes, but you are going to have to deal with tens of thousand of REOs when the shit vaporizes on the fan within the next twelve. Longterm, you just made yourself the short of the year. And I friggin hate BAC anyway before, fucc u Lewis fucchole.
Tomorrow’s short positions
fslr bidu crm
Could ,not get any shld to sell short, and fucc u Eddie Lampert, who the heck r u kidding buying your own shares today??
mmm…donuts!
We’ll realize soon enough that, like you said, this won’t help one bit with all the shitty mortgages out there.
And just wait until all the credit card companies out there start sounding the warning bells. Capital One and AMEX have already fired off the first rounds…
Now I am pissed off for not shorting MA – got more room to fall fellows – let’s see visa shelve their ipo. Ackman is right mbia needs to be shorted.
Median price per square foot of resale homes in San Diego County dropped 5% in the month of December. That’s month-to-month, not year-over-year.
Total drop since the Sept. 2005 peak is now over 20%, and the downward trend is still accelerating (and prices are still too high relative to rent).
Anybody want to buy CFCs mortgage portfolio?
San Diego price trends calculated by the excellent proprietor of piggington.com
Calvino- Nice.
Is Clavino’s interpreter here today?
And here is the rest of the story. In 1998, The Fly was just starting to practice how to: buy hi and sell lo! Perfected the practice only recently and will be happy to give lessons. Doh!
I believe Calvino says AXP continues to show that Financials are in trouble. I think he is calling Joe Lewis, who bought an interest in BSC, an ass. He thinks BAC will be stuck with alot of REOs (Real Estate Owned by the bank) if they buy CFC.
PS I think Joe Lewis is pretty savvy-at least he has been in the past.
PSS I believe Calvino is a big hit in the “Hood”.
Greenburg says if BAC buys CFC it’s because the fed is giving them a guarantee says rumors about bankruptcy were probably valid which led the fed to find a buyer. Moody’s downgraded 30 tranches of their portfolio. Same thing happened to american home before bankruptcy. Makes sense.
http://www.prudentbear.com/index.php/archive_menu?art_id=4854
Caddy – Ken Lewis, CEO @ BAC. Stupid deal of the year, but the year is still young. Hey, Julian Robsertson, how’s it going with them Bear Stearns shares.
Cramer called the bottom tonight …. says this is just like 1990 and the financials have bottomed ….
As the US slows down, bulltards will chase growth in the emerging markets. Right until they realize that if the US isn’t importing their lead paint covered toys then they are just another Stone Age banana republic.
So, emerging market investors may continue delivering the Homo Hammer to my FXP for the time being. Or not. Screwed, no?
Long Live Chinese Lotto.
forgot to mention that if Fly does not want to teach you how to buy hi – sell lo, I will be happy to! Seems I’ve gotten really good at it lately. Help!
cramer is an asshole and so are his callers……WM I lov it ave down in for the big win in about 4 yrs
Dear Cramer:
Asset. Values. Matter.
This is fucking genius:
when the shit vaporizes on the fan within the next twelve.