Saturday, December 10, 2016
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
14,876 Blog Posts

Drinking Good Wine to Wash the Pain Away

I can’t remember being so mad at the market, as I am now. I haven’t been ignoring iBankCoin today. Instead, I left the office in favor of seething and snarking at people in the streets.

I’m not interested in rehashing the bearish porn-shit that you’ve been seeing, hearing and reading all day. Fuck those people. Instead, I wanted to inform you that Trader Joe’s has the best 1,000 day old gouda cheese in existence. I strongly suggest getting on your organic bicycle to buy some. Pair it with a nice Cab Franc. Be sure to make sure it is a 92+ rated wine, else you are simply drinking shit.

Sometimes it’s important to remember life exists outside of the stock market. Try to enjoy it.

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  1. Neokeynesian

    I’ve never seen the market so out to kill everybody: bulls, bears, swing traders, day traders, buy-and-holders. It’s almost like a seek and destroy robot in a science fiction movie that is programmed to learn and so becomes progressively stealthier and deadlier.

  2. ctb007

    Time to plan a fishing trip. Awesome post Mr Fly!

  3. flyaway18


  4. Woodshedder

    Just look at a chart. The whole thing is a mess. Cheers Blogfather.

  5. mrkcbill

    Smoke em if you got em

  6. No One

    We will bounce, question is, how much.

  7. chuck bennett

    greece is OTB. Out the business. game over. or so I was told.

    Cheese and wine it is.



  8. ottnott

    “make sure it is a AAA rated wine derivative, else you are simply buying shit”

    Uh-oh. We know where reliance on the ratings leads.

  9. Yogi & Boo Boo

    Geez blogfather, lighten up for Christ’s sake. I damn glad I’m not managing anyone’s money other than my immediate family, lest I do a Bill Miller and pretend everythong is fine, whilst I run and hide in some culvert or spyder hole [sic].

    Look, what’s the worst that will happen if the EZye blows up, or we get a US downgrade on Monday? We go down to the bottom of the old range? Whoop-di-do! Blog on Blogfather. Enjoy your wine and gouda. I’m enjoying mine.

    BTW, when in college I worked at a place that made kick ass smoked gruyère. It was something to behold; enjoyed with a fine wine or not.

  10. Darkmatter

    Dear Fly, On top of blunt wine advice would you mind answering a travel-related question? I remember you taking a Caribbean trip this Summer. I can’t decide where to go in the Caribbean with my girlfriend, all the islands seem the same… Time frame is the week before xmas. Would you kindly recommend a destination befitting a top hat gentleman?

    • The Fly

      Go to Turks and Caicos and stay at the Tuscanny. Thank me later.

    • Taco

      I used to live in Tortola, the British Virgin Islands. Ran a West Indian newspaper there. The very best islands to stay on in the Caribbean are Virgin Gorda and Anegada, both in the BVI. Nevis and Anguilla come close, as well. Be sure to visit Alex at Cow Wreck Bay in Anegada. Go catch a lemon shark for lunch.

      Nothing but Africa on the other side of that view…

      • Frog Playing a Colorful Accordion
        Frog Playing a Colorful Accordion

        She’s a technical analyst. Ain’t no TA analyst better than the 12631 analysts right here.

        • Frog Playing a Colorful Accordion
          Frog Playing a Colorful Accordion

          OOps. Somehow I put this comment in the wrong place. Supposed to be about the BAC analyst’s comments.

  11. JTU

    Drinking shit (because that’s all I can afford) and enjoying it! Cheers!

  12. kcscott

    Drinking Jameson and getting my Turkey fryer ready for Thursday.

    When Fly put up that post yesterday on the PPT algos I had the mental image of the Matrix, with all the different codes and macros fighting it out

  13. Marc David

    I’m enjoying learning about cloud hosted services. Frankly, I capitulated after GMCR (capitulated meaning I quit looking all the time although I am still long a number of names).

    I discovered in that time that your iBC Admin is one smart dude! Dude is a crazy genius. I like him. He’s cool. Good man, speaks english and knows IT.

  14. tomhendrix777

    if you consider 2009 bottle of cheap chardonnay from Kroger good wine im doing the same thing

  15. Vegas Trader II

    Think about ALL of the negative headlines and doom/gloom we’ve heard in the past month or so.. Now ask yourselves if you think we’ve even heard half of what’s in store for us?? MF Global was the tip of the ice burg, they are scrambling to hide what is beneath the surface!! We are FUCKED!!!!!

  16. spoiledsquid

    Electro. Again?

  17. Spooky

    I just booked two 3-day ski weekends after xmas and early January. Six days of skiing to get ready for six more days out west in feb/march. Nothing like snow and hot-tubs to clear the head.

  18. Bullish

    So the Fed has forced grandma into the stock market via zero return on cd’s and bonds… And now we get 2 – 3% daily swings?

    Starting to feel like grandma just got run over by a reindeer.

    • Frog Playing a Colorful Accordion
      Frog Playing a Colorful Accordion

      Grandma is fine. She decided not to open the statements from her mutual fund company. They are sitting unopened in a pile on a table in her house, with her bills and magazines.

      Only if she hears on TV that the Dow plunges below 10,000 will she have a coronary and give what’s left of it to you in her will.

  19. Trading_Nymph

    Oct was the crazy shit I still can’t get. Will check out the Cheese.

  20. Damon

    I think of Einstein, and these “faster than light” neutrinos.


    Einstein didn’t like the attention e=mc squared brought him.

    Sometimes the spotlight stays on you, regardless of your intentions…it’s a Hollywood thing.

    • Trading_Nymph

      Tonight I am actually pondering how many spend their entire lives trying to understand the universe thru math…and how Fly’s obsession with the PPT shares those same passions of understanding our universe.

      • Damon


        I certainly cannot speak for Le Fly, however, everything is peaceful in the wild universe around my home tonight.

        (fresh snow in the forest)

        I think money is wonderful, but love is even better.

        So, how about a toast to real men, real women, and real love?


        • Trading_Nymph

          Damon, Love is wonderful and it will always will be. But, “real passion for something” is an intense junkie rush that in its purist form most will never experience. Van Gough had it, 2 am in his room painting. IMHO, I think both the Fly and I are not doing it for money, but the passion…look at a physist’s eyes when they talk about string theory, passion. Can’t pick your passion, if that was true, mine would not be so geeky.

  21. Frog Playing a Colorful Accordion
    Frog Playing a Colorful Accordion

    Here, here! A toast to real men, real women, and real love. And to the wild universe around us.

  22. jp

    Speaking of hearing too much chatter about the Germans.
    I HEARD SOMETHING ABOUT DEUTSCHE BANK “DB” who knows the real exposure here? anyone? i believe it’s going to a great short ! someones going to fail ! …any links?

  23. Vegas Trader II

    This John Kerry insider trading shit has put me on edge tonight BIG TIIME.. I’d beat the piss out of that bitch and his wife if they were in front of me right now..Modern day Bonnie and fucking Clyde..

    • fake amish

      not quite. bonnie and clyde were true amerikan outlaws. the kerry’s are simple scumbags. agree with the sentiment tho. fuck em.

      • Vegas Trader II

        Things NEED to change in this country. WE can’t stand for this BS any longer..

        • Mad_Scientist

          I guess when he sold his teva shares, I should have taken my cue. They should let us citizens access their trading records so we’ll know what to buy and sell.

  24. jp

    Come on Man, you have everything ! but I have evrything !!
    germany going down man ! , I HEARD SOMETHING ABOUT DEUTSCHE BANK “DB” who knows the real exposure here? anyone? i believe it’s going to a great short like Leman !
    someones going to fail ! or come close to take the heat and dump on them …any links ?

  25. alf44

    … tha TRADE is SHORT !!!

    It is a POSITION TRADE !!!

    Just put tha trade on … walkaway … and go eat a frickin’ sandwich … JEEEZ !!!

    Honestly … this place is inhabited by a bunch of schizophrenic drama queens !!!

    In The Land Of The Blind … The One Eyed Man Is King !!!


  26. Raise Taxes, Cut Spending
    Raise Taxes, Cut Spending

    Interesting article in the Globe and Mail today about how all the central banks are amassing gold. 350 tonnes in the first 9 months this year as opposed to 76 tonnes in all of 2010.


    Dinner party with Steven Bell, DB INSIDER !

  28. pistilstamen

    I found this blog a while back because I was interested in the stock market. I have stuck around and continue to read this blog every day because of your writing.

    In light (spite?) of the recent turmoil in the market, I think your writing has never been better. In particular I have really enjoyed the autobiographical narratives that you have been sprinkling in…fascinating stuff.


  29. gumby

    technical breakdowns in the broker/ dealer in the money center banks !
    measured moves on those will take out Oct . 1st qt. sooner possible if credit markets freeze
    50% chance hit 950 area give or take 15

  30. Lesley Wexler

    but if they can’t manage their debt should we be eating their cheese?

  31. ruggyup

    That reminds me of terms like, “sucking up”, “kissing ass” and “unctuous hyperbole”.

  32. Trader Joe

    I recommend the Chimichurri Rice at Trader Joe’s – just a splash of cherry tomatoes with the right mix of spices. And for dessert – wrap your lips around some Salty Chocolate Balls. Our guests just can’t get enough of our wonderful Balls!

  33. Blind Read Ant

    That Van Dyke “Euro-Buddist-Fembot-bull-shit” was fascinating.

    No replays, however.

  34. Kunte Kinte

    Again, Stock market is not very close to the 2007 ALL TIME HIGHS. When unemployed was 4.7% and everybody had a second house.

    This entire rally is going become undone.

  35. Mad_Scientist

    What is that “pinback” bullshit? “Investmentwatch?” Is that some kind of leftist anti-wallstreet watchdog group?
    What, the guy wants to see a black hole swallow us all up tomorrow morning? And I’m pretty sure the Fly has not “thrown in the towel” so that guy needs to get his reading comprehension fixed.

    The market is in the same trouble it was in 3 months ago, but in the meantime, it lured us all in long with pretty charts and a pretty rally, and it forced the people who were short to begin with, who had the right trade with the right macro view aligned, to abandon their correct trade in the face of a punishing senseless rally. Now no one knows what to do, but perhaps alf is right, it’s only a matter of time before crickets and cockroaches are crawling around nuclear ruins with Dow 1000. This year was my initiation into trading the market, which I haven’t done before. It’s been a test by fire and damnit I’m better for it. Let’s throw some more money into flaming garbage cans!