Bullshit

I just finished reading this crap, and I am appalled. Clearly, this fucker is talking his book, being short [[MVIS]] and all. What makes this article criminal, is the scurrilous rumors he is perpetrating on a low volume, micro-cap stock.

As some of you know, last year MVIS was “The Fly’s” largest position. I made lots of money in the name and, eventually, gave a lot of the gains back. Nonetheless, I have always found the CEO, Alexander Tokman, to be honest and responsible.

This hedge fund manager who says MVIS gave away the Pico projector market to TI is full of shit.

First of all, the big market is not for a stand alone projector, but embedded. Also, Microvision’s technology is far superior to TI’s. While it’s true, at some point this year, MVIS will probably need to raise capital. It’s also true, they will have no problem doing it.

As a matter of fact, I like the stock here, under $3, and will begin buying some. If you recall, when I got out of the stock, in late ’07, I said I’d get back in late ’08, or when the stock represented a decent value. At these levels, I believe the stock can bounce.

Bottom line: MVIS is a highly speculative play, with a rough balance sheet and has fierce competition. However, it is my belief, their technology in the cellphone projector space is dominant to TI’s and worth a shot, considering how big the market is.

Remember, there is no fucking way TI can put that LED crap inside a cellphone, without melting that fucker down. Lasers are the way to go.

NOTE: A colleague of mine spoke with the company and they feel the Seeking Alpha article is a “deliberate and malicious attack by a short seller.”

UPDATE: I just got a note: A special MVIS shareholder conference has been scheduled for 1pm eastern.

UPDATE II: The conference was sponsored by a banker, not the company. It went well. Basically, it was a fireside chat amongst shareholders, with a few bullet points with regards to how retarded the Seeking Alpha guy is. In addition, he mentioned the possibility of seeing several volume orders, prior to year end.

Bottom line: I like the stock here, under $3.

I bought 3,000 [[RIG]] @ $152.

Disclaimer: If you buy RIG because of this post, someone on a Ducati998 will crash into your living room. And, you may lose money.

I sold short 25,000 [[HRB]] @ $20.87.

UPDATE: I sold short 5,000 @ $21.20

Disclaimer: If you sell short HRB because of this post, the next time you visit an amusement park, you will fall out of the roller coaster. And, you may lose money.

[[CSE]] is ripping out the intestines of longs. It’s that simple.

People should just refer to me as ‘Bosox,’ since I keep winning. If you think about it, it’s not fair for one man to bank all of this coin. But then again, I believe in natural selection— so it is fair.

Many of you are haters, even some of my tabbed bloggers—saying shit like: ‘when you brag, it’s time for the market to go down.’ Fuck you, where it hurts.

Check out my “Five Reverse Horsemen” : [[FED]], [[DSL]], [[FHN]], [[CORS]] and [[PACW]].

I’ll have you know, if I could have a 6th horseman (I cannot), [[EWBC]] would be the favorite to win that spot, no doubt.

Be alert. Sometime soon, the bulls will make an effort to take control, citing egregious shit, like “we successfully retested the March lows.” Just get ready for it; because CNBC will make sure you hear it.

Once again, the only viable place to park cash is in energy. I’ll have you know, at the present, [[RIG]] is my biggest position, passing [[FTK]]. FTK is great; but RIG will break bear backs soon.

Finally, [[PCZ]] is worth a shot here too, under $60.

Top picks: RIG, short HRB

Citi is slashing it IB division. It’s only a matter of time that we see deal firms start falling by the wayside.

I know a lot of people at small-mid-sized boutique shops, who were making buckets of coin over the last 5 years. Now, they’re looking for work.

Consider the anatomy of recent deals: all foreign. Over the last two years, the IB’s were out of the cartons of retarded Asian companies, who don’t know how to properly deal with minor inconveniences, such as accounting standards, i.e. [[XFML]].

In my opinion, [[LAZ]], [[COWN]], [[TWPG]], [[JEF]], [[PJC]], [[OPY]], [[EVR]], [[GHL]] and [[PLCC]] are long term sells.

The bigger firms, like [[MS]], [[MER]] and [[JPM]] will be adversely affected too. But, the small fuckers can get annihilated.

What is Wall Street going to cook up in late 2008-early 2009? I’m sure every single Chinese company, that employs more than 5 people, has been milked by them, already. Maybe, they might exploit Brazil a little more or some ag related crap. But, as a whole, the ipo pipeline is as dry as a slug in a salt mine.

By the way, CNBC needs to cancel ‘Fast Money’ or just get a new cast of talking heads to espouse opinions. I miss that Strazini guy, and of course Eric ‘The Oil Barrel’ Bolling. I’m sure that fucker made like 10 trillion dollars, on his oil barrels, over the past year.

Seriously, except for an occasional Macke verbal gem, those fucktards are completely inept investors. About a month ago, Guy Adami was suggesting the banks would be ‘writing up’ their worthless assets and exclaimed: ‘Meredith Whitney might upgrade the banks,’ since the worst credit crisis known to mankind had ended and shit, in just under a quick 3 months.

Asshat.

Updated Asshat: Does anyone still take this guy serious?

Some might consider this to be ridiculously blasphemous, rightly so. However, I consider it quite Godly.

Apparently, Dougie Kass aka ‘Mr. Big Bank Believer’ is making the rounds across the internets, leaving egregious comments— in order to defend his erroneous decision to get long bank stocks—prior to their recent “homo-hammering.”

Full article here.

1. Doug Kass Says:
   June 15th, 2008 at 6:09 pm 1. I dont cheerlead – I analyze. My analysis is sometimes right and sometimes wrong- unlike your convicted “no chance” that XLF can rally.
   2. I have been short financials for two years before going long.
   3. I believe my spreadsheets on Citigroup are more accurate that Meredith Whitney’s. I did not “sneer” at her work.
   4. I dont believe C will cut its dividend – rather cashflows (using reasonable assumptions) suggest that C can modestly RAISE its dividend in 2009 and 2010. By contrast Meredith thinks C will eliminate its dividend.
   5. Your rationale against the banks seems to be totally based on technical analysis – which is not my approach (mine is fundamental).
   6. Ad hominem attacks, like yours on myself and Cramer are inexcusable and show little class.
   Doug Kass
   Seabreeze Partners

NOTE: Someone remind me to add that site to the blogroll. I’m too fucking busy to log it now, as you readily know and understand. And, let this message ring in Doug’s ear: you’re fucking wrong. So wrong, you’re going to ruin your life, should you continue to believe what your moronic excel spreadsheets conclude. All you have to do, Mr. Big Bank Believer, is take a trip to California and have a looksy at the real estate market—then find religion and swear to never try to get cute and play both sides of the fucking fence, ever again.

Fuck, if I had money at a ‘short only fund’ and that fucker (fund manager) went long bank stocks, into a maelstrom, I’d redeem my money immediately, just on principal alone.

[youtube:http://www.youtube.com/watch?v=w8inztO0Xx8 450 300]

If it weren’t for my largest position [[FTK]] being blown the fuck up, I’d be as happy as a fat fuck in a donut factory. Instead, “The Fly” is enduring uppercuts to the scrotum, as men with small penises sell FTK in size.

As an aside, I threw on a bunch of shorts, namely [[CYN]], [[CSE]], [[HRB]] and a few inverse etf’s—via [[TWM]] and [[REW]].

It’s bloody murder out there; all hands on deck. The idiotic managers of mutual funds and ‘value’ oriented hedge funds are losing their shirts. All of the cheerleading ham fuckers on CNBC are eating some serious shoe here, as the markets nosedive, without safety net. Note ever 10 point uptick, they say: “we’re stabilizing, well off the lows.”

What the fuck is wrong with these people?

What happened to all of the misfits who said “buy the banks”? Or, more importantly, what happened to the people who participated in dilutive secondaries?

My guess, those people are now dead.

“The Fly” warned you of pending doom, should the economy fail to recover in the 2nd half of 2008. Well, we are close to the 2nd half, let me ask you: has the economy bottomed, fuckface?

I thought so.

Finally, it’s important to note that buying dips is no longer a viable investment philosophy. The market is having its head sawed off for it, on a daily basis, without respite.

Do yourself a favor, and get short some bank names to pair up your energy longs. We’re not done going lower.

I bought 2,000 [[FTK]] @ $20.92.

Disclaimer: If you buy FTK because of this post, Guy Adami will deem your biggest position to be “pricey,” “based upon valuation.” And, you may lose money.