Friday, December 9, 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
14,869 Blog Posts


If there is one word that summed up today, that word would be “BUTTERBEER.” Whilst my wife, daughter and two sons made their way to some lunatic air swing ride thing, I made my way to the BUTTERBEER line. To be honest, I had no fucking idea what BUTTERBEER was, nor do I know why I keep capitalizing the word each and every time I write it. Nevertheless, I wanted to drink it because I am a purveyor of butter and I’ve been known to quench my thirst with select artisan beers. Granted, both butter and beer in the same sentence makes as little sense as China loosening bank reserve requirements while dealing with $119 Brent crude; I wanted it nonetheless.

As fate would have it, my family ended up scrapping their plans to partake in aerial lunacy, specifically due to the long line. They had no idea where I could have drifted off to, as I was supposed to meet them in exactly 1 hour. However, my reputation tends to precede myself in the most egregious way, helping them pinpoint my locale without equivocation: THE BUTTERBEER line.

Ashamed to be seen on such a line, I wore a hat and pulled it close to my eyes, so that no one could see me (please note, this same hat was later eaten or lost or knocked off my head–gone forever– done in by a T-rex/rapidly falling boat combination); but it was of no use. I drank up the BUTTERBEER and felt disgusted by the whole ordeal. I tossed it into a trash bin after drinking just 5/6th’s of it, then headed off in search of a disgusting and absolutely grotesque turkey leg–unnatural in both elephantine size and brackish taste.

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  1. Marc David

    We need to talk when you get back.

  2. xxxHuggieBearxxx

    Sounds quite delicious. Are you at Disney or Midieval Times?

  3. Berniecornfeld

    Ugh…did that last year. Its like drinking liquid sugar. Universal (Harry Potter Land) is too small and the staff have no clue how to manage crowds. Go to Disney and get DoleWhip (pineapple icecream). Quite tasty.

  4. flyaway18

    What do you mean the family had to scrap plans of going on the lunatic aerial ride because of the long line? You’re a Space Alien Magician, and your crew should not be standing in line.

  5. TraderCaddy

    Just keep spending the tourist $$ as we like our taxes low and we all appreciate it very much.
    Your hotel in Bonnett Creek area of Disney is great but it wasted an existing golf course to build it (used to be two courses there) and I am sure the unlimited chips and homemade salsa for $3.95 in the clubhouse dining area doesn’t exist anymore.
    Anyway, if you are still there on Sunday get some tickets to the Daytona 500. After that I would say you will be wearing an Earnhardt No. 3 jacket in Manhattan, a Bud hat, and some cool cowboy boots.

  6. mhass33

    I went to Universal with my family in high school and had an awesome time… went back with a girlfriend a couple years ago and realized how much those places lose their charm as you get older…

    • fake amish

      you forgot to take drugs the last time. nothing like a classic theme park high on whatever is your thing with a new or old girlfriend. just make sure the girl is on her thing as well. good times.

  7. Victor Riesco

    That T-Rex Fall at Jurassic Park theme ride is quite cool.

    I’m pretty surprised that Le Fly would visit such lowly amusements, given his high refinment.

    • xxxHuggieBearxxx

      Kids can turn any man into a cretin.

      • Jakegint

        True dat. We did the Disney thing a couple of years back, and if I have my way, I will never darken their doors again. And yet the clamor for another trip is approaching ear-splitting stage…


        • MetalLeg

          Happens every time. Leave Disney after each trip with both me and the Mrs saying that we are never coming back and within a couple of years, momentum for the next trip starts to build. My 19 yr old daughter has been there at least 10 times. I am a failure as a parent, I know. Reality is that it’s not a bad way to spend time as a family although it is painful in a number of ways.

        • Jakegint

          Ten times??

          Holy shit, I hope that metal leg has a spigot at the end, and holds at least two liters of bourbon.


  8. ruggyup

    The brackish taste was is attributable the piss contaminated Orlando and environs water supply aggravated further by the ostrich leg deep frying cauldron being filled with rancid grease left over from last year’s Zellwood Corn Festival. Disney being Disney, they get these shit ingredients at a gun to the head price.

  9. TraderCaddy

    I have several passes to Universal (had them for about 10 years), which are good through 2030, stuffed somewhere in my underwear and sock drawer. I have been to Disney about 100 times, but not in the last 15 years.
    I would rather walk on hot coals in the nude than go there, although my wife will make me if we have grand kids and she is saving those Universal passes for that time. Chances are good though the nursing home won’t let me out.

    • Blind Read Ant

      wow. hehe, Why the change of preference on visits (I have my ed. guesses btw)?

      • Jakegint

        That is the mark of a true Disney hater… hoping for incontinence, senescence, or perhaps a mixture of the two, locked away in an old folks home before one’s “number” comes up again, this time with the grandchirrens.

        I can see it, I really can.


        • Trading_Nymph

          Growing up in Southern California, TradyCaddy I beat easily your 100 times to the park. And heck all my friends worked at Universal up on the hill so it was always free. How can you not have fun there..even if you just hang out and do nothing it still is the HAPPIEST place on earth (well not for that drunk guy on the recent video on You Tube)..but how can you not love it?

    • Dog

      What is it that you hate about Disney?

      • Jakegint

        There is one good thing about Disney. The Epcot Center and the various “countries” with their attendant beers of choice…

        To be fair, SOME of the resorts have decent restaurants.


        • Dog

          That’s my favorite park at Disney. Especially when they have the Food and Wine Festival. Got a trip planned for Oct-Nov this year with my wife. Gotta leave the kids behind. Walk around the Epcot World Showcase sampling and end with car bombs at the Rose and Crown!

        • Jakegint

          LOL @ “car bombs.” Kind of ironic, given the Brits’ IRA history, no?


        • Dog

          Yep, they still serve them…LOL.

  10. Rhino

    What the fuck is going on? This is the slop of peasants. You need to get away from the masses and get to investing again, you’re getting sucked into their disgusting and vile vortex of obese lunacy. Go drink one of Stone Brewing’s Epic’s they should have some aged ones there in NYC.

  11. LD

    Sounds like you’re having a great time, BUTTER BEER and all. Enjoy!

  12. Blind Read Ant

    Jack Daniels Honey. Just Saying.

    • Jakegint

      That stuff is freaking VILE.

      Makes Southern Comfort seem like the refined drink of the Carnegies in comparison.

      I’m convinced it’s designed to lure young girls into alcoholism.


  13. Catboots

    Disney is sooo fun. However, we decided to go to Europe instead this year. It’s epcot center for adults. LOL

  14. TeahouseOnTheTracks

    Jack Hanna has a Honey Badger on Letterman right now …

  15. bhh

    When I was 5 (about 34 years ago), Disney World had the old school metal monkey bars somewhere on the property. Well, me being the agile toddler I was fell off said monkey bars, down through the middle, cracking my head open both front and back. Oddly enough, Mickey visited me in the hospital, as did Goofy and the 3 other Disney character that existed back then. Mickey then put my family on a chartered jet home and was kind enough to foot the bill for for several more trips back to Disney World until I outgrew it – at age 6. My father wasn’t even a layer and I have not a scar to shot show for it. A physical scar at least as that many trips to Disney World can be quite emotionally damaging.

  16. Woodshedder

    Reminds me of summer teeth.

  17. alf44


    Please try to avoid the use of the term …

    “Chink In The Armor”

    … in ANY and ALL future blogs !!!


  18. JakeGint

    Meanwhile, back in the investing world… the liquidity remains rampant, and the dollar, dolorous.

    Forget your cycles, pass the Butterbeer!


  19. razorsedge

    screw trading, have fun with your kids. u cant get this moment back!

  20. pyromonoxide

    I’ve enjoyed the kennedy space center nearby, rockets, etc, cool spacey gift shop. Crap, but at least it’s slightly smarter crap.

    Real trick is catching them launching something. Rocket launches up close, yes, fire, yes, thunder, yes.

  21. Cascadian

    You gotta ride the Tower of Terror over at Disney. I rode it in Anaheim last fall. Many times.

  22. Lydira

    Best time to go to rides is during lunch or dinner time. Everyone is eating and resting.

    Still looking for a place to live Le Fly? Take a look at this:

  23. older than dirt

    Where there will be money made, for sure:

    Rates for tankers hauling liquefied natural gas are rising for a third year as expanding Japanese demand for the fuel attracts cargoes from the Atlantic, extending voyages at a time of shipping capacity shortages.

    Rising requirements from Japan mean Golar LNG Ltd. (GOL), which operates nine LNG tankers and is controlled by shipping billionaire John Fredriksen, will report a fourfold gain in 2012 net income, according to the mean of 11 analyst estimates in a Bloomberg survey. Golar is reactivating four-decade-old mothballed ships after rates doubled in 2011 and are forecast by analysts to advance another 58 percent in 2012.

    Traders redirected 13 ships to Asia from Europe or the U.S. in the past month, data compiled by Bloomberg show. LNG from Nigeria, the largest exporter in the Atlantic, sold for 93 percent more in Japan than in the U.K. in January, up from 40 percent 11 months ago, according to New York-based Poten & Partners.

    “This bottleneck cannot be corrected overnight,” said Fotis Giannakoulis, a New York-based analyst at Morgan Stanley. “It will take years, and it is an opportunity for a lot of LNG shipowners to generate premium returns.”

    Shipments to Japan, the biggest LNG buyer, are swelling to a record after March’s earthquake and tsunami shuttered about 90 percent of the nation’s nuclear power. Gaps between LNG prices around the world will last five more years because production is growing fastest in the Atlantic while demand is being led by Asia, Morgan Stanley estimates.
    $147,000 a Day

    LNG tanker rates rose to $97,630 a day last year from $43,663 in 2010, according to Fearnley LNG, a unit of Norway’s second-largest shipbroker. Daily rents will average $147,000 in 2012, the median of six analyst estimates compiled by Bloomberg shows. Costs surged as shipowners failed to keep pace with an expansion in the supply of LNG, liquefied by cooling natural gas to about minus 160 degrees Celsius (minus 256 degrees Fahrenheit).

    Fredriksen, Golar’s 67-year-old chairman, is betting the rally won’t end any time soon. The company is spending $400 million on two new LNG carriers and may double the order because global price gaps and trade growth make the ships a good investment, according to a Feb. 14 statement.

    Demand for LNG vessels will rise 12 percent this year, RS Platou Markets AS, an Oslo-based investment bank, estimates. Two new tankers will join the fleet of 374 ships, an expansion of less than 1 percent, according to London-based Clarkson Plc (CKN), the world’s largest shipbroker. The carriers need equipment to hold about 155,000 cubic meters (5.5 million cubic feet) of liquid that expands to 95 million cubic meters in gas form, equal to about 25 percent of peak daily winter demand in the U.K., Europe’s biggest gas market.
    Record Japan Cargo

    Shipments to Japan will expand 3.9 percent to a record 79 million metric tons this year, estimates Arctic Securities ASA, an Oslo-based investment bank. January imports rose 28 percent from a year earlier to a record 8.15 million tons, according to the Ministry of Finance.

    The flow of extra cargoes to Asia is worsening the shortage of shipping capacity because the journey to Japan from Nigeria is about 8,700 miles longer than the voyage to the U.K. European LNG demand will decline this year and next as the region contends with a mounting debt crisis, according to Barclays Capital. Imports will also contract in North America because of increased gas supply from deposits trapped in shale rocks, the bank’s analysts wrote in a report Jan. 23.
    Oil Rout

    Fredriksen’s other shipping investments, spanning oil tankers, dry-bulk carriers and container ships, are suffering from industry-wide gluts. Frontline Ltd., the billionaire’s tanker company, split in December to withstand the worst rout in rates since 1999.

    The same slump is hurting other owners. General Maritime Corp., the second-largest U.S. oil-tanker owner, filed for bankruptcy in November. Bigger competitor Overseas Shipholding Group Inc. (OSG) suspended its dividend Feb. 9.

    Golden Ocean Group Ltd., Fredriksen’s dry-bulk commodity- shipping company, fell 25 percent in the past year in Oslo trading. The Baltic Dry Index, a measure of the cost of hauling coal and iron ore, plunged 45 percent in that span, according to the London-based Baltic Exchange, which publishes freight rates along more than 50 maritime routes.

    Gains in LNG tanker rates may slow next year as fleet growth accelerates. Shipyards will deliver 22 new vessels in 2013, equating to a 5.9 percent increase, according to Clarkson. There are 57 new carriers on order, figures compiled by Redhill, England-based IHS Fairplay show.
    Nuclear Capacity

    Japan’s economy contracted an annualized 2.3 percent in the fourth quarter, the Cabinet Office said Feb. 13. The country is still contending with last year’s disaster, which led to the meltdown of the Fukushima Dai-Ichi nuclear plant. Japan had 6.4 percent of its nuclear capacity operating as of Jan. 27, according to industry data compiled by Bloomberg.

    Economic growth in South Korea, Asia’s second-biggest LNG buyer, will slow to 3.3 percent this year from 3.6 percent in 2011, according to the median of eight economist forecasts compiled by Bloomberg. China, the third-largest importer in the region, will expand at an 8.5 percent rate, the slowest in more than a decade, the median of 21 estimates shows.

    Asia, accounting for about 60 percent of global LNG demand, will raise imports by 10.2 million tons this year as shipments to Europe and the U.S. fall 4.4 million tons, Barclays estimates. Supply in the Atlantic will increase 7.3 million tons, compared with 3.6 million tons in the Pacific and a 2.2 million-ton decline in the Middle East.
    Stena Orders

    Stena Bulk AB, a Swedish owner of 80 ships, may double its fleet of LNG vessels because of the booming Asian trade. There’s about an 80 percent change Stena will order at least four new vessels next month, adding to its current three, Chief Executive Officer Ulf Ryder said yesterday in an interview in Gothenburg.

    Nigerian LNG cost $17.12 per million British thermal units in Japan and $8.87 in the U.K. last month, compared with $14.38 and $10.27 in March, according to Poten, an industry consultant. After taking transport and re-gasification costs into account, profit from selling the gas to Japan was $13.64 on Jan. 31 against $7.17 to the U.K. That compares with respective levels of $11.96 and $8.93 in March.

    Asian LNG buyers are also seeking supplies from outside the region because Indonesian exports are declining as domestic demand strengthens. Shipments may drop to about 300 cargoes of LNG this year from 362 last year and 427 in 2010, Gde Pradnyana, a spokesman for the nation’s oil and gas regulator BPMigas, said in December.
    Profit Jumps

    Demand for LNG carriers will be “strong” for “years to come” as new production projects are completed and demand from Japan and China strengthens, Golar said in a statement today. Fourth-quarter net income surged to $17.2 million from $4.71 million a year earlier and 2011 profit was $46.7 million.

    Golar’s net income will jump to $194.2 million this year, analyst estimates compiled by Bloomberg show. The shares, up 1.9 percent in 2012, will rise to 289.11 kroner ($50.72) in the next 12 months, the average of 10 estimates shows, implying a 7.5 percent climb. The stock almost tripled in 2011, and only two of the 16 analysts whose recommendations on Golar are tracked by Bloomberg advise selling.

    “Going forward, we expect the arbitrage to be the norm, rather than something that is strange,” said Per Christian Fett, an LNG broker at Astrup Fearnley in Oslo. “Even if we had more ships, the arbitrage would still be there. There are not enough volumes to close it.”

    To contact the reporter on this story: Isaac Arnsdorf in London at

  24. Mike

    hey fly…WNR…hold thru earnings?? or dump it??

  25. Yankeedog

    Tom Demark, on Bloomberg sometime between 3 and 4.

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