iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,219 Blog Posts

Understand that YOU Know Nothing

Some of you are new to iBankCoin and do not know whom you are speaking to, when commenting on “The Fly’s” blog. That’s alright to a certain extent, as all of us deserve a good talking to and education to expand, mentally. I’ve watched most of you make heinous jackasses out of yourselves for the past 5 years, with unique and unparalleled consistency. It’s entirely understandable because you are retail aka “goat fucking misfits” who are here to serve as bag-holders for the managing elite.

Oh, by no means are these so called hot shot hedge managers any better, mind you. They are simply holding a bigger bag.

Thanks to my rocket ship technology and time machine capsule, “The Fly” has never participated in the holding of bags. The very notion of it is somewhat foreign and arcane to him. I’ve determined the direction of this market far in advance of your newspapers and know when to press bets and when not to.

You should know, most of iBC is bearish now, including RC, Wood, Jakegint, Scott, Caine, Chess (to a certain extent, although more open minded) and myself. This is a very rare occurrence. The last time we were all in synch was late 2007, just before the proverbial and literal dismantling of the stock market.

A great many of you are optimistic about the price of shares only because “everyone else is bearish.” Frankly, that’s an asinine investment thesis, hinging upon the outer-banks of sanity. If you are buying XYZ, you should have a reason to own the shares that are based upon the companies fundamentals, not the color of your fucking mood ring.

With regards to your investment portfolios versus net worth: you shouldn’t have more than 50% of your worth in stocks. If you are placing all of your eggs in one crooked basket, do not blame anyone but yourself when your mood ring wipes out your 5 figure ThinkandSink accounts.

What is the bottom line to all of this drivel you ask?

See the title of this post.

[youtube:http://www.youtube.com/watch?v=yY_3sSzPPKI 603 500] If you enjoy the content at iBankCoin, please follow us on Twitter

100 comments

  1. GYSC

    Well said.

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  2. mrkcbill

    Did you post the new Xtranormal cartoon?
    BTW..nice post Horatio

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    • asteroids

      The Fly has done a new animation??? Why not, now that Jobs has about eaten his new liver.

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  3. MOOBS

    Better to have the other 50% in…?

    Serious question. I’ve always been pretty much 100% (stocks or cash).

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    • The Fly

      cash in your bank

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      • MOOBS

        Oh, that. Yeah. Got that.

        Thought you meant fancy stuff like bonds, currency swaps, CDSs, long of golds, unicorns, that kind of thing.

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        • Yogi & Boo Boo

          I always keep a couple of Gold Unicorns (TM) in the basement. They’re right next to the cans of tuna and hermetically sealed pails of rice, corn, and wheat.

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    • mrkcbill

      $GAPPL New One Stop Shopping
      Guns, Ammo,Pay Day Loans, Pawn Shops,Liquor
      10% discount when you get liquor with your pay day loan.

      Best things for barter Liquor and Cigs.. way better than gold. ..
      read somewhere today maybe here…Blue Chip Divvy’s are holding the market up…$JNJ $KMB $IBM $SO $INTC $MSFT $KO $MCD…if these get hit look out below.

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  4. J. Livermore

    “A great many of you are optimistic about the price of shares only because “everyone else is bearish.” Frankly, that’s an asinine investment thesis…”. Thank gaEd somebody with credibility finally said this.

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    • Frog Playing a Colorful Accordion
      Frog Playing a Colorful Accordion

      True, dat. Everyone else is bearish can mean a lot of different things. Some folks claim to be bearish on some survey but they are buying the dips all the way down. How bearish is that really?

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  5. Earl

    “The outer-banks of sanity” — well done.

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  6. henhao!

    to VXX and play against the clam or not vxx and wait for a better day?

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  7. Yogi & Boo Boo

    What more is there to say?

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  8. speedius

    It’s “to whom” brother.
    http://www.youtube.com/watch?v=ehgfdZeigFI#t=3m0s

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  9. TJ

    Sir, I have been following you for a while. Clearly you are an average investor with just a big mouth and a platform. Your bets in the market are average at most. You keep referring to your readers as five figure account holders. ( i spit on that.) Be a coward and block me.You know nothing as well.

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  10. Big snacks

    Sentiment does matter

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  11. The Fly

    After years of extreme winship, how soon you all forget “The Fly’s” market mastery.

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  12. Tisker

    Pain is inevitable. Suffering is optional.

    If one looks through the pain to learn it’s causes, hopefully one will derive enough wisdom to avoid more pain in the future.

    The cycle repeats, and the pain comes in many forms. Keep applying yourself.

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  13. Yogi & Boo Boo

    Where the fuck do all of these dweebs come from? It’s like Mr. Market mows them down and three pop up to replace them. Then the first thing they do is seek out Sir Horatio Clawhammer, and shit on his petunias and pee on his Lexus. Geez.

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    • tomhendrix777

      been following for years and its never been the same bashers for more than a month Fly is the man i guess some of these guys took the night off from protesting on the brooklyn bridge to protest flys winship

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  14. The Fly

    Yes, posts like these are done on purpose, in order to draw out the plebs for instant banning. Everything on iBC is done with methodical precision.

    All posts are done to evoke emotions and cleanse the site of bad characters.

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  15. JimCramer

    OFC they know nothing! why else would they subscribe to IBC

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  16. Deehydration

    A majority of the young population does not care if we replay the depression again. All they want is the iPhone 5.

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  17. halfbloodpope

    If I know that I know nothing, do I actually know something?

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    • The Fly

      Yes Socrates. You do know something indeud.

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      • Blind Read Ant

        Plato and Aristotle might have a word with that hemlock-aholic named “S.”

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      • jose mann

        [T]here are known knowns; there are things we know we know.
        We also know there are known unknowns; that is to say we know there are some things we do not know.
        But there are also unknown unknowns – the ones we don’t know we don’t know. – Donald Rumsfeld

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        • Yabollox

          It’s not the things you don’t know that will get you, it’s the things you know that just ain’t so.

          ~Mark Twain

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        • franky

          while that comment marked the top of the tumult in his career, i thought it was one of the more honest and artful things he ever said.

          i believe him to be a complete ass, regardless.

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          • franky

            rumsfield, of course. twain remains a genius. a particularly apt quote from twain for le fly vs cnbc:

            “I still go on underrating men of gold and glorifying men of mica. Commonplace human nature cannot rise above that.”

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  18. Dubz

    Quintessential IBC – educational and condescending.

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  19. muttonfish

    Thinking everyone is bearish right now – that kind of broad-brush idiocy is what decimated the amateurs in the late spring of 2001, and again, as Fly pointed out, in 2007. February, March of 2009 — now *that* was a time when everyone was bearish. People weren’t talking about a bear market, they were talking about the market being dismantled altogether like a burned-out 1978 El Dorado up on blocks, never to recover. They were taking the money left in their trading accounts and buying CDs. And I’m talking music CDs — that’s all the money some people had left. Hold on to your crinolines, little girls. This party is just getting started.

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    • The Fly

      Yes. Everyone is saying stocks are a buy because everyone is bearish.

      In other words, they are bullish. This is not capitulation.

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      • muttonfish

        Exactly. During capitulation, people aren’t saying it’s a good time to buy. They’re too busy crapping in their pants. Myself included.

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  20. Bullish

    Hey, what happened to the analyst bomber? Did I miss something?

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  21. xxxHuggieBearxxx
    xxxHuggieBearxxx

    listen, get long before earnings season starts. Start scaling in now and buy all the way down to 1050, if you can.

    By late october i will be up 75% on the year.

    mark it, son.

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  22. wilmer

    Feels like 2008 again. We ate skiffles, drove around in FAZ-mobiles, and drank out of chalices filled with black smoke.

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  23. HFT Robot

    Big difference – in 2007 we didn’t control the market…now we do.

    My Indians in Mumbai just completed compiling the Fortran program over the weekend. The stack of punch cards should be delivered by the market open.

    They say, sell, sell, sell in an infinite loop.

    Fortran doesn’t give a damn about the iPhone 5 launch.

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    • Yogi & Boo Boo

      You misspelled FORTRAN Perfesser [sic].

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      • HFT Robot

        Huh? Last time I checked they spell it Fortran.

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      • jimmy_two_times

        no to be a DICK, but Yogi is right.

        FORTRAN, not Fortran.

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        • HFT Robot

          Fortran (previously FORTRAN) is a general-purpose, procedural, imperative programming language that is especially suited to numeric computation and scientific computing.

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  24. Gold bug

    I don’t understand your stupidity towards your posters. You always abuse, denigrate your peers. What is wrong with you? Do you feel high on the throne only if you abuse us?

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  25. freefall

    It’s not everyone, just you fly, you are bearish, must mean a market bounce…between you and cramer, this market is easy to play… thanks guys!

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  26. Hermes

    Wall Street protesters may have a front row seat to witness the give’m enough rope axiom played out in real time. Traders jumping out of windows into the arms of angry dispossessed hell raisers is the shit dreams are made of.

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    • JakeGint

      I always wondered what gave you hard-line leftists a chubby… knock me over with a feather (not) that it’s “death, again.”

      __________

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  27. Yabollox

    I don’t understand how I can’t understand anything. Maybe that’s why I come here to read these words of wisdom.

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  28. oldfuck

    Tempus edax, homo edacior

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  29. The Fly

    THE FUCKING WHEELS ARE ABOUT TO FALL OF THIS CHUCK WAGON.

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  30. oldfuck

    never fear some are still eating as fast as they can… http://www.bloomberg.com/news/2011-10-02/koch-brothers-flout-law-getting-richer-with-secret-iran-sales.html

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    • JakeGint

      Shocked! Shocked! That political hit pieces would come from Nurse Bloomberg’s media organ!

      How can this be??

      ________

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  31. flyaway18

    Gold is green right now, wonder how long that will last.

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    • franky

      another twain quote: “A gold mine is a hole in the ground with a liar on top.”

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  32. flyaway18

    My cash is generating little income at .25 pe4rcent monthly. I looked into a 3-year annuity but after the term ends you have to roll it over and I wasn’t sure if I liked that idea. Can anyone comment on whether or not they like annuities? This one started at 3.5% and could go no lower than 1 percent. But they aren’t isured by the FDIC, either.

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  33. The Fly

    The trend is lower. Accept it or get left behind.

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  34. freefall

    New lows on copper, you may have won the day fly…

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  35. wabisabi

    lol, just lol. hopefully that’s okay.

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  36. Hammy

    good stuff. i was going to ask if you’re ever going to write a book; but i remember you said this site is your life’s work; I’m not sure some book would be better than what you’ve made here. what would be the point?

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  37. Trading_Nymph

    Hey Little US Dollar, remember when no one was with us and we were the sole bears in the house? Nice to see everyone on board as we attack that 50% fibo retrace off 2007/2009 move. BTW, FLY, I love the Man of LaMancha graphic on the home page again…I have been running at my Copper Windmills since I came here in May of 2010..maybe its time to sing the Impossible Dream.

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  38. Belly of the Beast
    Belly of the Beast

    Razor didn’t get banned.

    Is he in jail ?

    http://youtu.be/rf6n6ChLsp0

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  39. theedge111

    Dexia going under.

    Futes plummeting. Confidence is toast. Communist idiots have taken over Wall St. Germany tells Geithner to go fuck himself. French banks are levered 100-1 according to PIMCO.

    Why in the fuck would anyone go long given this setup???

    The trend is lower peeps. Get out of your high beta names and take cover.

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  40. xxxHuggieBearxxx
    xxxHuggieBearxxx

    Futures are holding pretty strong…i don’t get that.

    In any case, the world sure does seem dangerous.

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  41. jimmy_two_times

    Flt,

    why not short into this if it is a shit storm?

    are you keeping powder dry for a “co-ordianted” gap up response?

    just wondering. just wondering.

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  42. vehicle shipping

    I do not create a great deal of responses, however i did some searching and wound up here Understand that YOU Know Nothing | Stock Picks and Discussion at iBankCoin | The Fly. And I do have 2 questions for you if it’s allright. Could it be just me or does it look as if like some of the comments come across like written by brain dead people? 😛 And, if you are posting on other online sites, I would like to keep up with anything new you have to post. Would you list of every one of your communal sites like your linkedin profile, Facebook page or twitter feed?

    • 0
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  43. Bula Elmblad

    Hi, is it rite to only study from textbooks not to visit world wide web for latest updates, what you say guys?

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  44. agen bola penipu

    Hey there! Someone in my Facebook group shared this site with us so I came to give it a look. I’m definitely enjoying the information. I’m book-marking and will be tweeting this to my followers! Terrific blog and great design and style.

    • 0
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  45. this hyperlink

    We stumbled over here from a different website and thought I might as well check things out. I like what I see so now i am following you. Look forward to finding out about your web page repeatedly.

    • 0
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