I am here for another two days, then it’s back to the confines of New York, dealing with the caprices of my tax attorney, who, no matter how much I pay him per annum, works at his own drum, according to his schedule. See, I have a deadline, as I am trying to close on a house. For those of you who think paying cash for a house is a preferred course of action, need I remind you that real estate is a depreciating asset? I will put the minimum 20% down and have the bank finance the rest. For this to be done, I need my paperwork in order; but that won’t get done until I threaten to rattle bones and commit arson, will it?
Looking at today’s tape, it looked like a wash. Feel free to let me know if you saw any trends.
Inevitably, the market has to trade lower, based upon the laws of gravity. Dare I say, these are dangerous levels to be a buyer. I’d like nothing more than a catastrophic drop in all indices, starting with the fucking Chinese, them and their empty skyscrapers. However, as of now, the market is rich with excess and pomp with circumstance. Cigar smoke imbues the chambers of fine establishments near Wall, as brokers and traders alike ham it up over lines of blow, atop the bodies of escorts.
As for me, a simple man with modest needs and desires, I continue to spoil my kids and let their imaginations run wild. I indulge them because life is short and adulthood is rotten to the core. I will do my duty to prepare and protect them for the harsh world that awaits them. But, while they are young, I will let them believe the world is a giant ball of cotton candy, sweet and fluffy–just like Woodshedder.
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Just like woodshedder….hahahahahha
Totally.
RE is a depreciating asset… I guess it’s relative. For some of us, the stock market depreciate even faster at times.
Where are you moving to? I remember you asking about NJ, but most of the time talking about “the south.”
Mr. Fly,
The attitude on The Street, complacency, and confidence for Dow to blast through 13000 seems to be the marching orders on the teevee.
The best accountants always work like that (to thier own drum-unless you have the stupid money that gets managed in the Century City towers on Avenue of the Stars in L.A.)
I had a gem of a guy in California, japanese mathematician that new all the angles.
Now, how many of you out there have any plans to play PCLN earnings?
After the bell, Monday 2/27.
PCLN looks like it might hit $600+ before then, talk about a run!
There will have to be at least a $20+ move one way or the other on Monday/Tuesday.
Just pick a side and hedge the other?
Great post Fly,
Real estate is an inferior investment. By definition on an expected return basis its simply going to return the rate of inflation. Might as well leverage the hell out of it with low rates and use your money to do something that will put caviar on the table. Real estate is a suckers game that our parents and grandparents bought into before they invented simple math.
Oh yeah. We can’t forget that it is 2012, and the sun’s poles are supposed to flip this year.
That and a nuclear Iran, and a uber-pissed Israel that the prez don’t understand.
It just FEELS like something ominous is in the air.
It will take a large trigger, but it shall come.
Perhaps the Federal Government will finally give the world disclosure of the fact that we have contacted aliens, and UFO’s actually do exist (watch until the end!):
http://www.youtube.com/watch?v=V9_Z8QIkUAg
Check out this one, seriously folks, we are not alone:
http://www.youtube.com/watch?annotation_id=annotation_348967&feature=iv&v=eKRUEaza7NI&src_vid=jUHIQ5vu1xE
Electromagnetic pulse weaponry?
Right on… . I saw a pretty crazy “orange” light in AZ near Maricopa / La Paz county line. It did a lot of vertical hovering, then did bursts that appeared to zig zag in elevation a few hundred feet at a time. Appeared to “defy” gravity.
I figure it’s just US Military. If calling Terrestrials aliens is the case, agreud. I don’t, however, think it’s ET though.
Just kewl tech..
And this from the moon–
http://www.youtube.com/watch?v=ToH5Ocwiqbs
I think some of the so called UFOs are just orbs in the sky similar to the way an electron emerges out of an electron cloud but at a larger scale.
In what general area did you end up buying or trying to close on a house?
I plan to move near Princeton,NJ.
Probably a good idea. I know Mrs.50 is a bit bored living in paradise as she grew up on Long Island and we’re even old.
Oy vey, do not break my heart and tell me you are going to move from Hawaii to Strong Island.
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Congrats, that is a great choice!
I agree about those accountants, I wonder if they are secretly laughing their asses off at us when we make a request to get something done fast.
The actual Garden State parts of Joisey are not bad, and there are very good schools in the Princeton/Lawrenceville area.
Are you going to Moorestown/Cherry Hill, then?
I knew we’d never get your cantankerous, fish-out-of-water self down below the Mason Dixon.
That’s okay, you can visit your kids there some day.
________
‘Pomp with Circumstance’
(very good)
i had a bit of a stay there last summer.
really good people..
🙂
although, the freeways are messed up.
Princeton? yikes. Back at my old company we were locked in Scanticon there for a weeki for kickoff every January – i’ve alaways imagined it was somewhat like Dachau with food tables.
What kind of rate did you get on the new place Fly? I got a 3.25 on a 15 yr 2 years ago and wonderering if I should look into it again
Tom Brady Syndrome confirmed….did you roll your annual fee into a home?
More Flyless-ness ahead…
Kidstock
Rather than have you pester me with your selfish/meaningless rants, I’d be more than happy to pro-rate a refund for you in PPT and be done with you.
You’ve been here long enough to know that your comments are of poor quality and taste. The world doesn’t revolve around you and you need to behave like an adult .
email me at flybroker at gmail.com
What does that even mean… “Tom Brady Syndrome?”
Is he growing his hair out and chatting up supermodels?
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One of the things I like best about your daily blog Fly,is the music..Best of luck and thanks for the tunes and insight. Even if I don’t always concur.
Sheep Shaggers unite! I’ve found your stock pick!
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My youngest turns 17. Time to grow up sweetheart because the world sucks.
double top? vxx? tza? decisions decisions
Selfish – hardly. Meaningless — I have accurately called numerous Fly Bottoms. Just because you’re anonymous doesn’t mean you’re transparent…
Anyways, I sent you an email and received the following Out of Office Message:
I went South to stuff an oversized drumstick in my mouth. Next week I will be fixing pipes instead of talking to ass-wipes.
I’m leaving Staten Island because the air is no good for my pleurisy. So I’m moving Mrs Fly and the kids an hour away to Princeton New Jersey.
Did I mention I was up 18% this year?
BANNED
Some friendly advice Fly. Having written title insurance for a couple of the largest companies back in the good ole’ days I would suggest being sure to get an owners title insurance policy.
The mortgagee title policy protects only the lender and if you get what is known as an Owner’s Title Insurance that is simultaneous issued the rate would be dirt cheap (50-$250) and well worth it, especially these days of who knows what is in the chain of title.
Sure, but don’t be fooled and buy the ‘enhanced policy’ as that is just a gimmick similar to the ‘undercoating’ on a new car.
Also, feel free to put down a mere 10% and finance the MI premium into the loan.
Specially in Joisey.
Could be Vinnie Boombotz, or woise (sic), his dawtah (sic), who is not starring in her own reality teevee show.
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Crack up 4.37 17%..WNR gonna explode
Four letters – P o m o
Sucking the bulls in. Ask yourself if you really think this is a normal market? Every day a reversal? Single day pullbacks? Because “investors” are confident?
It is a very liquidity driven run. You don’t think they won’t blame Iran-Israel, oil, or both when it drops. And they know 100 times more what’s going on over there.
If you really believe expanding P/Es are driving this or a greek bailout where they forgave debt only to reloan the same debt. You deserve to be led to slaughter.
One word for you, fellah:
“Duh!”
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Perhaps. But those who think a war between Israel and Iran is a sure thing, IMO deserve to get slaughtered by bulls.