My IT guy gets really nervous when I mention illegal stuff. I suppose it’s his “mid-west raisin'” that has him all legal eagle and shit. On the other hand, “The Fly” used to play “hop over the crack vile” when he was young, back in that shit hole called Brooklyn. This country is one great amazing dump.
The markets are ping-ponging higher, despite bad news out of China (look it up, lazy fucker) and America losing the gold medal in hockey. Additionally, the dollar is up and the Greeks are fornicating, instead of paying off their debt. Life is grand and confusing, especially for investors, which is why I’ve been pigeon holed, like a pussy, in [[TLT]] .
My latest position, Silicon Storage Technology, Inc. [[SSTI]] , offers a nice risk/reward ratio, with a hard cash offer of $3 on the table and a bidding war brewing. Both Cerebus and Microchip Technology Inc. [[MCHP]] have made offers for the company. However, both offers insult the intelligence of investors, mainly because THEY UNDERVALUE THE COMPANY, greatly. In my estimation, the stock is worth at least $4. So, I am buying with vigor. My cost basis is around $3.18, so my downside is .18. I like those odds, .18 down and .82 up.
In other news, Prudential is buying American International Group, Inc. [[AIG]] Hong Kong insurance unit for a staggering $35 bill. First of all, they are paying way too much for the unit. Second of all, the deal smells very fishy, especially since the U.S. government owns American International Group, Inc. [[AIG]] . The true value of AIG is actually $00.00. The shareholder equity is with the preferred shareholders. The common stock holders have ZERO equity, which is comedic onto itself. It’s one giant government sinkhole, whereby money is doled out to other institutions, in order to keep the charade going. By keeping one little giant company on life support, the government saved 100’s of other banks—very clever indeud.
With my money, I’d rather participate in dice games, than buy stocks based upon the cocaine intake of my local trader. No thank you. Like my grandmother used to say “not for me.”
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Stfu. I am up 4% on tlt inside of a week. What do you know about money mngt?
3GS Fly should rename his handle “Fruit Fly.”
Rally is over, everyone back to the cave for sushi and samiches. (flamesuit on)
AIG worth 0.00, was loaned 185 bil from tax payers, has finally sold?? one section for 35 bil, now — only another 150 billion to go.
yeh right.
carry on.
What’s with the fucking pussy trade lately? Macro shit all over the place – come on, I can get that anywhere
Where is the Fly that speed cuts carrots with his balls on the table while vanquishing his enemies with hastily thrown pointed sticks?
Go fuck yourself. This isn’t a fucking show. I am really managing money here, not some bullshit 500k Think and Sink account. You don’t like it? LEAVE.
It’s either fuck or walk here pal and I have no time to entertain your desires.
damn
Now that’s the Fly that we all remember. Must have been an impostor ghost writing for him.
On a more serious note, so are you saying that you have put a large % of your clients’ money into TLT as well? I remember from my time in the biz that clients don’t pay managment fees for their advisors to “manage cash”. Was always a tough sell even if being in cash was the right thing to do. Though I realize TLT is not a cash-equivalent. Just saying that someone who’s expecting their manager to put up equity-like returns can’t be happy with their advisor going with a self-described pussified investment like TLT.
fid
Dear Mr. The Fly,
You are a genius. You foretold the government would find a way to make us all buy treasuries, and now IBD is reporting on one way they might do just that: require 401k investments to be in treasuries.
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=521423
That would certainly get the job done…
Regards,
The Sax
Caffeine led to amphetamine which led to ….cocaine. I am in the same facility as Tiger – they treat all kinds of “addictions”. Fly, you will have to move to a gated community sooner or later as America further deteriorates into third world oblivion.
I think I’m turning Japanese, I really think so …………. At least our gubmit would like us to in order to sustain the high debt at low rates and replace foreign bond holders.
Come on people…It’s Mutual Fund Monday + It’s first of the month; Market has always upside bias, especially now that something crazy like 70% of the gains from the March rally came on MONDAYS!
Source: http://www.bespokeinvest.com/
FYI: Market above 50EMA, looks like green light for the bulls;
Agreud (sic) about the usual Monday and first of month shenanigans. But with 1 hr to go to the close I’ll bet we finish a pretty good distance below the highs of the day. This market is running out of upside momentum and the preponderance of the indicators is saying that the path of least resistance is shifting from up to down.
fid
I combed through some of the Bank of America annual report and was surprised to read that they have DECREASED their China exposure by 40% in 2009. I’ll tell you two places where their market exposure has increased: India (+39%) and Brazil (+140%).
Looks like the Pru AIG-ASIA deal was an opportunity cost decision. 35 Billion for a sizable footprint into the fastest growing region on the planet…doesn’t seem so outlandish given the expected return over the next decade…
Did the U.S. encourage this deal or call in a favor from PRU? I guess its possible, but PRU leadership isn’t going to make the same mistake BOA made with Merrill.
Seriously, how can you not cover OSTK before they drop an earnings bomb?
Oh they are covering…. about to cross the $13 level and send them scurrying.
http://ibankcoin.com/henry_fool/2010/03/01/ostk-shorts-are-fucked/
Fly is back on the bean but will he stay too long at the TLT party? Is the price of pidgeon hole eggs set to rally? Stay tuned.
I don’t use cocaine, I just like the smell.
LOLOLOLOLOL
That had me cracking aloud;
http://www.youtube.com/watch?v=9PR_rzF8ofw
Fly, adding more SSTI on this dip?
Fly … Cramer just reported GS raising numbers on SWN despite natty not picking up and seasonality working against it …. said something about possibility of GS knowing something about gov’t legislation favoring natty or another company taking an interest in SWN …
What’s your take? GS looking to unload or could there be something to his BS?
It’s one giant government sinkhole, whereby money is doled out to other institutions, in order to keep the charade going.
True, True indeed, its what I have been saying for years now – — a giant shell game
TMoe adds to his ISLN and INFA position
Anybody watching AMZN???
Up 6%!!! Off the news that E-Book or whatever the name, is getting a discounted chip.
However, ALL Consumer Discretionary stocks are exploding higher…
SSTI what happened? Did they accept a $3.00 offer?