The dot com craze was in full throttle mode and I was taking full advantage. All of the countless hours spent gawking at the bloomberg terminal, researching about the internet, was transforming ideas into cash, via egregious stock market gains, both professionally and on a personal level. My small America Online position, ticker AMER, had exploded in value and my book of clients was robust.
I staffed up, hiring a sales assistant and several cold callers and account openers. Monthly production was humming along at a brisk 100-275k per month; life was good to say the least. I couldn’t handle the order flow, especially since, back then, every single trade had to be written out on buy or sell tickets. Often times I was unable to eat lunch, due to the enormous burden of order flow at work.
Out of necessity, my work hours were still asinine, 8am to 9pm. It was just part of the job.
I deposited a lot of my personal worth into the stock market, moved out of the basement, into a Brownstone. My friends and family really had no idea how much money I was making, since I kept a low profile. They just thought I was “doing well.”
Every month or so I’d spend thousands of dollars on jewelry for my wife, from a private jeweler. One time, I was counting money, about to head over to my jeweler. I had about 15k spread out all over the desk; suddenly, my sales manager walked in unannounced. He just sort of looked at me, bewildered, as if I was conducting a fucking drug deal or some shit. I still remember the look on his face. Good times.
In addition to stupid diamonds, I spent a lot of money on sales leads, thousands of dollars worth. Somehow, someway, I was able to purchase the entire book of client contact information of my old nemesis— that fuck faced sales manager, who had fired me 2 years prior.
I went to work.
I was obsessed with exacting revenge on that fucker, who had fired me and took my book of business, immediately after my Grandfather’s death. One by one, methodically, I convinced his clients to leave him and transfer to me. It was like taking stupid from a cold caller.
Granted, it was a diabolical plan, one that I would never inflict on anyone else. However, he deserved it and more. He was stealing books for years. He had no talent, so he back stabbed his way into a lofty position.
Payback is a motherfucker.
In a period of two months time, I had successfully transferred more than 30 of his clients and millions in assets from him to me. It got so bad, so egregious, my sales manager came into my office one day, displaying a “cease and desist” order, from a certain vanquished former sales manager. I viewed it as an offer of surrender; so I stopped calling his book.
Years later, incidentally, we worked at the same firm together, again. But he never said a word to me about the whole ordeal.
Hence the term was born: “The Fly” wins all the time, even when he appears to be losing badly.
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Come back FLY ur MISSING OUT on this RALLY!!
that is a touching story. why the us has become scum haven.
yes, but why the fly in the first place.
Grasshopper, when preparing for a journey of revenge…first dig two graves.
Fly,
I can’t wait to find out why you gave up your business to go work in a stuffy environment again with your former EX.
If you always win, why sell your business?
I didn’t sell anything.
Hi Ho Silver! Away!
that is a touching story. why the us has become scum haven.
Yea it is touching, for Wall Street types. Main street wouldn’t get the nuance of the such a touching , heart felt act.
I realize that many probably laughed at my moves yesterday. Buying TBT at 43.30
Buying GLD at 89
short SPY at 80
Add to my SRS at 56
Well I am in this to win. I am in the process of buying my battle ship. Let’s face it, Buffet is right, a bubble is being created in treasuries and the Fed is their with an air compressor.
Don’t be fooled by the rally led by banks. It is not like they have been cleaned of their shitty pants.
Just look at SFLY pressing that 200dma
She’s gonna blow!
Who should be cast as “The Fly” in the 3-D movie “The Fly Always Wins” to be filmed later this year?
I cannot agree. Easiest money will be made front running the Fed. Hence, TLT trades higher.
Another move that may sound silly
T MOE buys DUG at 24.25 averaging into his current position
Nice ending.
Brought a tear to my eye. Have Hugh Grant play The Fly in the upcoming chick flick.
Probably could have skipped the internet research, put up a dart board with the names of the dot coms and had a monkey throw the darts.
It was the once in a lifetime era and everybody was a genius.
Not entirely true, TC. Some were more genius than others.
Holy crap, TC – Hugh Grant carries an LV man purse full of three dollar bills.
In FAZ at 26.41
T MOE buys SKF at 110
The shorts are coming back
FAZ – FAS- have caused me to replace my coffee with double bloody mary’s to start the freaking day…..!
Today I am putting a lot of cash to work both for short term trades and longer term holdings.
T MOE buys TIP
normally would be taking half off here at R1 and sending it off to a developing country, but will hold off for R2… Kass is wrong about the put/call… Nobody is short, nobody my friend and that leaves a major hole in price discovery that needs to be filled with reality.
Well that certainly explains it, how he became the legendary
Horatio “Alger” Clawhammer!
If you were with me on the ADBE trade from 16.50 or the DXO trade from the 2.00 level I am taking 1/4 off here on both names. DXO at 3.00 and ADBE at 22.50.
gapping nice call on the ABDE trade
The PPT saved my neighbors pet rabbit from being eaten by my pet wolf!
on other news,
anyone chime in on this topic;
Are we at a high, and is this the day of the reversal?
or, are we just at some sort of lull and going to hit the gas and everyone go apeshit again around lunch and drive this fucker even higher?
I can’t seem to be able to read this right now?
and T MOE, what are you long term buys?
my long term is MOS which I bought yesterday at 41.38
Inspiring story.
I’m not familiar with how retail brokers are compensated.
What’s the typical broker’s take out of the monthly production number?
Just caught up on yesterday’s posts.
Congrats to Donny for hanging in there and doubling down on FAS. Well done. Congrats on the new Beemer.
The Fly is God.
by the way, X (US Steel) is on fire today.
Thanks TMOE. I am keeping and will be adding to my TBT position effectively fighting the FED, yes this is asanine but I think over the next few months it will be a winner. I am hedged with long oil via a fucked dollar ala inflation.
TSO = BTFO, yippie tie yay yo. If you haven’t gotten your gold and silver miners yet, it’s not like I haven’t been warning, you, and yes, theres’ still time… SLW, PAAS, RGLD, EGO… all nice here.
Nice story, Fly. I want to option the rights. You know it could be as funny as Old School if we worked it right.
We can get Anton to do the financing.
___________
a few Long Terms
UNH, VR, CELG a few MLP’s like EPD, PAA, BPL
TIP, LQD
A few closed ends ETV, ETW, TDF
That’s about it
Most of my holdings are short term
Has anyone used the PPT? Good? Bad?
50-60%
gapping I feel the same about the FED trade. It may sould silly but I have made big coin going against the crowd and against the government actions
ppt is outrageously awesome. Check out testimonials in header ads.
Great story, Senor.
Is that how you were able to acquire the finances to provision some plutonium for your time machine?
What’s the typical broker’s take out of the monthly production number?
Depends on the house you’re at, and at what levels you’re producing.
But at those levels, we’re talking 45% payout at the minimum.
Some “private label” B/D’s (which are mostly just portable back offices) payout 90%.
Some of the larger brokers I have relationships with are increasingly looking at that route, as the marketing value of the large wirehouse names plummets, and is even an anchor for some.
Indicated conclusion: Short whatever brokerage names are left.
____________
Fly, I just asked you this on PPT but on a prior post. Are you still bearish on oil medium-term or do you think with the Fed news yesterday oil is looking good here?
Since I missed my stop-loss op, I’ve averaged in to FAZ @ 26.25. Back off vampire leprechauns!
Quick question, do the death battles for the Final Four conclude weekly?
Except for the restraining hand of the Almighty, and the steely gaze of my lovely wife, I have two former managers whom I would someday ruin.
They both wronged me so badly, so brazenly, that if I could hit them with my car as they crossed the street, leaving their children fatherless, I would do it. I shall not let my mind wander to the level of torture and revenge I would exact on them, for it is a sin, and this is Lent.
I think deep down they know it too, and travel very carefully, so as not to meet me in a dark alley or a crosswalk.
Watcher
Of course. But, like anything else, timing is everything. We will not “enjoy inflation, but deflation.
Oil will trade lower.
Love it! Very Inspirational, do you have anymore life stories to motivate a young student of the trade.
Wow, two!
I only have one.
But I’ve long since forgiven him. That “dig two graves” thing is not shitting, btw.
Think of it as a learning experience, and you’re always learning, right?
😉
_____________
Who should play the Fly in the 3 D movie?…Thats easy
http://blogs.pitch.com/wayward/danny-trejo.jpg
Gap
Yes.
Boom:
DO IT!
Don’t do it MOOBER.
At least not with your 1993 Volvo. You would dent it.
May I suggest using a car rental?
Fly, would love a post on this if you have time. How are we going to enter deflationary mode when Fed is printing money so rapidly?
If you’re right, that kind of means we’re screwed doesn’t it?
Fly, look at the black volume candles in ERX the last 24 hours or so.
Please tell me at least you are out of ERY for a while.
Earl to $75.
___________
I cannot. Luke 6
32″If you love those who love you, what credit is that to you? Even ‘sinners’ love those who love them. 33And if you do good to those who are good to you, what credit is that to you? Even ‘sinners’ do that. 34And if you lend to those from whom you expect repayment, what credit is that to you? Even ‘sinners’ lend to ‘sinners,’ expecting to be repaid in full. 35But love your enemies, do good to them, and lend to them without expecting to get anything back. Then your reward will be great, and you will be sons of the Most High, because he is kind to the ungrateful and wicked. 36Be merciful, just as your Father is merciful.
TC — maybe he could borrow the Accord?
_______
Not deflation, not inflation, just massive stagflation.
Just made a great sale on Nexen! Almost ready to buy back into DUG. I suspect oil will float slightly higher yet (and DUG lower).
Mars.
Caddy – I’ll have you know that my Volvo is a ’94. I wouldn’t be caught dead in a ’93.
Atlas — technically, “stagflation” as per the 1970’s era term, means inflation with a stagnant economy.
__________
Watcher,
The fed may be printing like mad, but they are no match for the money being destroyed via asset value decline and debt destruction. Also, I find it hard to envision how inflation, when it comes, will go hyper when there seems such a low likelihood of a wage-price spiral when workers have so little influence.
And btw — I don’t consider what Fly did to his old manager to be “vengeance.”
Merely, “competition.”
_______
JakeGint Says:
Fly, look at the black volume candles in ERX the last 24 hours or so.
Please tell me at least you are out of ERY for a while. Earl to $75.
**********************************************
Undoubtedly. I not only called the Generational Oil Bottom below 40 in Dec-Jan,
I told some clown on here that oil would swee 50 before 30. Right again.
That gives me four correct consecutive calls:
Oil TOP above $130 last May; Stock BOTTOM Nov 20
(yes it WAS – most stocks made their lows in Oct and Nov), oil BOTTOM early this year, and
oil seeing $50 before it saw under 30.
One more now: Oil will trade ABOVE 60 before it trades below 40. In fact it may NEVER AGAIN trade below $40, though I use the word MAY.
Agreed. Free market competition. He just framed it that way as a literary device. The Fly is an excellent story teller.
Generation Oil Bottom:
Thanks for the post.
High 50’s, maybe low 60’s in the shorter term, but I think I’ll start shorting oil companies when it hits around $58/bbl.
As to back under $40, if the economy is in as dire shape as it seems to be, then I still expect to see under $30 during 2009.
Mars.
I demand there be 10 parts to this story.
Don’t forget to get into DPeezy’s IBC NCAA Tourney Pool if you’re considering it.
_________
Obama spent part of Tuesday making his tournament picks for ESPN, which posted his completed bracket online Wednesday and showed the First Fan filling it out with Andy Katz on the noon edition of “Sportscenter.”
Great way to spend the day, fuck the economic situation I need to fill out my bracket bitches!
WOW!! I just realized the PPT is more absorbent than the SHAM WOW!!
I never would have believed it but it works!
Morty Ettinger NY, NY
Anyone who missed Santelli this morning needs to go to 6:45 in the linked video.
He says hundreds of thousands of call options on the ten year were bought within an hour of yesterday’s FED announcement. If the SEC doesn’t investigate this, after having been disgraced by the Markopolous guy handing them Madoff on a silver platter, I don’t know what they will investigate.
http://www.cnbc.com/id/15840232?video=1065724474&play=1
Jake wrote:
And btw — I don’t consider what Fly did to his old manager to be “vengeance.”
Merely, “competition.”
Couldnt agree more, vengeance would be setting that guy up with two transexuals in a hotel room and filming him getting his exit hole drilled out and then posting it on youtube.
Moob,
Maybe rent a Viper for cash and leave some military-issue ammo and a DD-size bra at the scene as you flee.
I am leaving for a ride in my VETTE before gas goes up to $10 a gallon and a trade cost $18 for 1000 shrs discount!
Gaps — I love how he picked the Cards first and then, upon re-checking the election results, backed out and took the pale blue tarheeled phags from the state that voted for his useless ass.
Typical.
__________
Added 50% more FAS here @ 6.12.
SC:
Boy the Rickster was realy down , disgusted, “deflated”, etc. Never seen him that way before, probably not a good sign for us
I propose we call this spazzflation.
It’s not so much the economy is stagnent it’s that there is a combination of inflationary with deflationary factors…
It’s like mixing stimulants with depressents. Nyquil and speed.
The market will at times in certain areas exhibit massive deflation (housing and rent and commercial real estate prices), and at other times exhibit exhuberance of asset inflation and food and energy and gold inflation but primarily just dollar and currency inflation.
The combination of credit crunching combined with dollars flying, combined with tax hiking and measures to prevent the slowwdown of credit and to increase lending, means we’re in a WTF economy…
Spazzflation is in!
Although I no longer watch CNBC, I now watch Bloomberg (much more laid back and of course not a bunch of fluff whores pumping up shit and blowing CEO’s to get a free lunch like CNBC)
but I did just watch the link of Santelli, and he is the man of the hour….he is really getting pissed at all the illegal FED fuckery going on, and he is apparently keen on the reality of alot of backdoor shananigans and illegal insider info going on with the FED and “others”
And Steve Leisman is nothing more than a homo FED mouth piece, all he does is side with the FED no matter what they do.
I will need links like this to keep being posted since I have blown my top with CNBC and no longer can tolorate watching even 5 minutes of it and hate all the hosts and have gotten to the point I can’t stand to hear their voices.
I’m Bloomberg only.
@Jake: I consider it neither “vengeance” nor “competition”…we’re talking justice, baby!
@admirer: this is not why this country is full of scum; this is an example of why this is a great country. Change the context slightly and you could transpose the Fly’s tale to any other time in America’s history since its birth. It exemplifies our drive to succeed, to overcome adversity, to prove ourselves. The sales manager, on the other hand…now that’s why this country is full of scum!
Artist..I am with you – CNBC pathetic skank sluts babbling like crack whores on day 1 withdrawal…only Santelli has value…i give it 10 minute increments..always shut them off during lunch..allstars..!! fuck cuntstars.
Jake: Isn’t that great, what a panderer.
On the Santelli deal, he has a point I mean these fuckers have more leaks than a Cuban escape boat. Someone fucking knew or they decided to hedge a big bet. But on the hedge I mean how much further could they have guessed rates would fall barring a fucking Trillion dollar investment. It had to be leaked.
Why are you hobos’ acting all surprised?
Of course it’s rigged you fuckers.
Why do you think gold was acting “so strange” past few days.
The thieves at the fed told their banker minions to short that bitch and make sure it stayed below 900.
imagine if gold was im the mid 9’s with the announcement yesterday. It woulda hit 1k easy and been on its way to 1200.
This way gold shot up to 950 but oh golly gee whiz…that’s still below the high. Too bad.
The game is rigged. always has been.
I’m sure fly has benefited from some riggery, leakery, or cockery here and there.
Write a book FLY – It sounds better than Persuit of Happiness