With enormous regret, I report to you that I will NOT be hosting the StockTwits QnA this evening, despite wanting to a great deal.
It all started when they reserved a room for me, meant for peasants– something straight out of the “how to redesign your home to look famished and in squalor” handbook.
Here is the place they tried to confine me to, like a prisoner, hungry for scraps of meatloaf.
So, being the diplomatic gentleman that I am, I approached this subject with sterling honesty and candor.
All I bargained for was the minimal furnishings that any gentleman in my position should have in such a venue. I did not ask for a lavish throne room or anything like that. I only asked to be treated as a person with a dignified air and with the appropriate care and seasoned alacrity that any host is expected to perform under such important circumstances, such as this. This humble request for humanity through proper decorum was dismissed. This was the room decorum requested, which was denied by the StockTwits cognoscenti.
Negotiations went back and forth all night, until I was dispatched an outright repudiation by a member of the StockTwits IT goon squad (what a surprise).
After being admonished in such a public fashion, I had no choice but to take a more serious course of action. Any man in my position would do the same. I am sure if you were bedeviled by my predicament, you’d do worse!
Several text messages were exchanged, all along the same obnoxious vein, effectively treating yours truly as a second class citizen, a financial servant designed to sit in squalor answering questions tossed carelessly at me by ordinary misanthropes.
I furthered my discussions with a much greater belligerent tone, in closing.
So there you have it. I refuse to abdicate my responsibility as a gentleman of society, just so others may have a laugh or two at my expense, humiliating the readership of fine men and women here at iBankCoin. Once again, 10,000 apologies to everyone who was looking forward to the session. I will, however, be more than happy to answer your questions here.
[youtube:http://www.youtube.com/watch?v=-6ebutx-Fww 603 500] If you enjoy the content at iBankCoin, please follow us on Twitter
Tone it down a notch, this reads like one of Olberman’s emails and more than the majority of people would like to see him strapped into a guillotine
Foul ball (Fly on!).
I disagree with you entirely.
Olbermann’s a tool. Fly isn’t.
Fly is god
Fly, I was looking forward to your Twits session but oh well… what is the next big growth sector?
Social media. It’s here to stay.
Totally! This myspace thing ROCKS!
yeah – I love theglobe.com
The Ruskies disagree on the social media idea. Facebook is doomed.
http://english.pravda.ru/society/anomal/09-04-2012/121036-facebook_deception-0/
When has Russia not been one step behind?
In space, you fucker!
Do you listen to Rick Ross, when alone?
Fine selection tonight.
RC, new to STwats, is their usually audio too, or solely textual (no Mel Gibson)?
no audio.
@RaginCajun
All the time. Stay Schemin;
I was really looking forward to your opinion on tonight’s American Idol shocker.
Damn. Even the king got a chair at the lists area during the jousts…
wouldn’t want to see you handle this any other way FLY
I am glad your position is opposite to that of the trader known as Chivo.
You are very funny dude!
(The Ibc coterie gather their torches and march towards said STwats office of squalor with deeply profound, offended trauma to their civil rights!.
True, I only asked that my civil rights be respected. Sadly, I was declined.
Can you explain why you like CPST so much?
You must listen to the tone and tenor of the CEO in the last two conf calls. Go to earningscast.com to hear.
They are expanding into oil and gas fields and margins are on the rise. I might end up with egg on my face. But I think this is a turn around.
Will iBC ever host a black tie event, charging egregious cover and bringing Jason Treu in for lifestyle consulting and decorating?
Also I called the sickest trade out on $RENN today but had my tweet “corrected” out of the stream for containing “shit”.
We were thinking of doing a seminar at The Plaza Hotel in NYC, not some place of degeneracy in Las Vegas.
However, we are unsure about demand, so shelved it temporarily.
if demand is what you need. The maker of rain shall help. I have groupies on both coasts
Kunal
Although I like you a great deal, such an affair would cost me a minimum of 65-90,000 dollars, unlike the sort of drab events you might have had the unfortunate experience of attending.
And, it would be for iBC partners only.
Thanks.
I fear I would be priced out of such event at that price.
It’s ok, I just figured you had better things to do, like tinkering with your orbital space cannon. You know, DPRK missile mysteriously explodes after launch. Just sayin’ (and thanks!)
My eye sight is too poor to read that size 6 font but I believe there will be several be-headings once Howard hears word of this disrespect.
ROFL. This is hilarious.
I can scarcely believe the squalor they conspired to subject you to. Thank you for standing up and asserting the basic rights of gentlemen everywhere.
I am glad you have taken the opposite position of Chivo and consider you a great friend of my house.
LOL x2
Are you and Howard still on good terms?
I would gladly decapitate someone for Howard, namely one of his staff members in the IT department.
A well considered response and an appropriate action, Dr. Fly. I applaud your response and refusal to submit yourself and by implication, your followers, to squalor.
Would you like me to go to their IT office and “have a talk,” with them?
Feel free.
I did not ask for a lavish throne room or anything like that.
Agreud, that throne was positively drabber, fit for a slattern.
It was standard fare and you know it.
Hilarious. I thought something was awry when the last commenter threw up in the mosquito candle while another opened a beer with his teeth and wiped his mouth with weekly AAPL put options. When I didn’t hear pomp OR circumstance I knew I was fucked if I didn’t run the hell out of that human garbage disposal.
“Nobody puts baby in the corner.”
Futures down 3. Big deal.
Chinese GDP came in light, despite high officials saying otherwise this week. I am surprised by it.
Me too, that 9.0% that people were talking about was silly after the HBSC PMI data, etc..but normally when they throw out numbers like the 8.4%, they normally make the numbers fit it. Retail sales were up a small bit above estimates, but heck they normally would blow out that number. IP beat. Stock Twits, their loss, imho.
Are you going to send Jeremy on assignment to take down Stock Twits via you’re iBC laser beam?
The Orbital Space Cannon works by remote. I can destroy their HQ right now if I wanted. But I am generous.
@bclund has taken over your chat room Fly. Put an end to this insanity please.
LMAO.
I do not know this gentleman. Perhaps you can yell at him to leave?
Well. Back to InfoWars and JKnCoke (no blow).
Don’t forget, PM’s on the rise.
That a “VC” like Uncle Howard could not get his IT staff to come off better trappings than the typical…
Did you go to university for finance?
Majored in Economics.
I feel honored knowing we share the same major
Fly, why don’t you listen to metal?
What metal do you have in mind? I listen to everything.
I feel Keith Buckley @deathoftheparty is your metal counterpart
http://www.youtube.com/watch?v=Y1gi_aOe334
Dr. Fly, I am disgusted they did not prepare things properly for your event. What does that say about a company when they don’t try to accommodate a customer, especially a distinguished one? From now on I will look unfavorably on anything associated with StockTwits.
But thank you for looking out for us, and entertaining our questions, even after this insult. Stocktwits should pay attention and learn from your actions about how people should be properly treated.
My questions: What is the ideal way to determine the fair share price for a company? Or is there some common attribute of companies that indicate the stock will gain interest over time?
I have looked to technical analysis, where price action is usually a lagging indicator rather than forward-looking.
I have delved into fundamental analysis, where a 20% ROE is no guarantee of a similar increase in the share price. And fundamental analysis doesn’t work at all for start-ups.
I have seen models based on the aggregation of analyst estimates of EPS growth, though the analysts may be biased in their figures.
Does a stock’s valuation all boil down to spending time knowing something about the company, it’s industry, and then making a gut judgement about the future price of the company, hopefully before everyone else does?
Or what else gives an indication that the company will be a winner?
Excellent question and thank you for the support.
There is no secret sauce to knowing the fair value of a company. However, if you have a good one that is demonstrating superb momentum, there are tell tale signs to get out.
My favorite being declining gross margins. When a co beats EPS but margins are down, that is a red flag that they had to drop prices in order to retain business. Also, be careful of companies trying to grow through acquisition or carelessly spending money on share buy backs. Rarely do share buy backs do anything.
So to answer your question: I buy companies I like and understand. If it is too confusing for me, like biotech, I avoid. If earnings suck, I sell.
DF would be a prime example of a stock buy back gone “south”.
How long did it take you to become consistently profitable? Did you blow up your account when you first started?
I blew my business up in 2000 severely and almost left the industry. If it wasn’t for being such a bad interviewee, I would have taken a job at a discount shop.
I’ve made money every year since 2002, with my best years being 2003, 2008, 2009 and 2010. I’ve noticed that blogging about my ideas keeps me razor edge sharp.
I’ve never admitted this, but the feedback I get from the thousands of people and writers of this site is priceless.
Interesting. What made you a poor interviewee?
I didn’t want the job
EXACTLY!!
Are you planning on buying Facebook post IPO?
Not likely. I’d rather buy more YELP, or start positions in TRIP and AWAY.
away reminds me of airbnb.
actually just looking at the site it is airbnb…
airbnb does get all the media right now though having the “it factor”
first time ive heard of home away. will track it from here on in. thanks for the find
Fly, so you really have a mega phone? Like are those big gray bricks really coming back in style? Always ahead of the trend.
Fly what is your opinion of TraderFlorida?
I am not familiar with him. I really don’t pay mind to other people. They tend to interrupt my thought process.
Fly, could you talk about your work/life balance? How much you read each week, how/when you shut it down at night? It seems you post at all hours of the day and have more in common with a daylight-tolerant vampire than a normal human being.
I awake every day at 6:48 am. I go to sleep about 3-4am. I catch up with sleep on the weekends.
I never read financial books. I did that when I was younger. Now I read classics, Dickens, Tolstoy, HS Thompson, Dumas etc.
Believe it or not, reading works of genius helps me more with managing money than any self professed guru can. Just to get inside of the mind of greatness is enough to motivate me to do better on my own.
That is an unreal sleep schedule. I fear that is not sustainable.
I do vacation often in the summer, affording me the luxury of sleep.
Money never sleeps.
If you are a fan of HS Thompson, then I would highly recommend “Outlaw Journalist.” It’s a biography but it captures enough of Thompson’s verve and Idontgiveafuckness to be well worth the time.
http://www.amazon.com/Outlaw-Journalist-Times-Hunter-Thompson/dp/B0051BNUN2/ref=sr_1_2?ie=UTF8&qid=1334286539&sr=8-2
thanks
A day that will live in infamy.
Friend, here you go: http://twitpic.com/98akdf
If you were me, would you ban you for that?
I would but I am no fly.
just to be clear, that’s not the REAL pedro.
No
Even the fact that you should be subjected to expressing your divine and revered opinions within a 140 character limit now in itself seems reprehensible.
This extended dialogue has been fantastic to absorb, including but not limited to your response to ultramarine.
Much obliged sir.
And out of all the bloggers who have left iBC, do you have a favorite?
Off the top of my head I can think of…
Gio, WeeklyTA/ChartAddict, DevilDog, Danny/SPYder Crusher/Jason Treu… or is there another that particularly stands out?
Shit, that’s an easy one. Jason Treu is by far my favorite.
You said you blew up your business in 2000 with I assume clients money. Any detailed steps as to how you got clients back after an atrocious(I assume) 2000? I guess the process between the blowup and getting clients money, would be appreciated.
Also, do your clients know about 2000 blowup/about this site?
With a thank you at the end of that
My client base was 400 deep. I was constantly getting new business. It was a matter of repair. I was not alone in losing money. The Nasdaq fell 30% in one month alone.
You always rolled deep from the start.
The process of extracting clients away from your current company and to keep for your own business/fund, was that fairly easy with prestine returns? Or were returns not prestine then?
Taking clients away is hard: 60% success rate.
Good Q. Did it help that everyone else was getting blown the fuck up from tech bubble explosion?
Yes, more than you know. The firm I was at would fire 3 brokers every Friday and hand me and other top producers their books.
That’s the vicious recycling nature of the brokerage industry.
Thanks
Kinda shocked they didn’t have a host pick questions from the audience or something of that sort.
or afford me with minimal decorum.
You seriously cancelled because they couldn’t put your throne picture on the background?
That is not much to ask, is it?
The best part is how you inadvertently hijacked their stream with a rusty Rambo knife
Why would he not. Any self respecting man who buys something that represents him and his company and is unhappy with the product that is provided because he believes it to be of a lower then deserving standards would do the same.
Exactly. Maybe you should explain this to Chivo.
Fly, I want to have lunch with you. Can you tell me how I can achieve it?
(p.s. I am willing to pay top dollar to your favorite charity)
Sorry bud, at this stage, I am unwilling to meet with anyone. However, Gappingandyapping is invited to the annual iBC dinner this year, thanks to his immense help in the iBC server department.
Thanks for the candid response. I am sure we will cross paths at some point.
Tao in NYC or Smith & wollenskyor Sparks Steak House?
Do you believe Peter Rose belongs in the Hall of Fame?
No, he is a fucking degenerate. He should never be allowed into the HOF.
While I agree he is a degenerate I do believe he deserves to be in based upon merit. Why keep him out while all his memorabilia is in? Perhaps upon his deathbed.
It’s not about merit. The HOF should not be shamed with men of a lesser cloth.
No. Rose knew the rule and knew the punishment. Beyond that, several years before he was thrown out of the game he was warned to watch the gambling and didn’t listen. Phillies knew he was betting too much (probably suspected it included baseball but didn’t know or want confirmation) and Giles told him to clean up his act.
Motherfucking china has forsaken me….gotdammit
futs are -1 below fv. Relax
Fuck China.
If you had to put 50% of your clients money into one loaded mutual fund, what would it be?
I haven’t examined a mutual fund since 2002. Seriously.
or etf
50% is a big load, so I would have to say SPY.
If you had to build your book from scratch (today), how would you go about acquiring new clients?
I would target partners at big accounting firms. Untapped market.
what would your pitch be, you personally running the show with your market knowledge/investment prowess or the whole private wealth management routine.
Personal charm.
If you can’t connect with people, wrong gig.
how come you never accept my challenges in the game of chess?
I accept your challenge!
sure. freechess.org ; my username is jarrettmp
Will hit that up tomorrow. If you have iphone/ipad ChessWithFriends and my username is HalfBloodPope
because I am not in the mood for Chess.
ever?
Checkmate!
If you were graduating from undergrad, what field/industry would you be applying to? is an MBA worth the money?
Along those lines…MBA(top 20) or CFA?
I’d go with accounting then apply for job at PWC. But make sure you can accomplish a gpa of 3.7 or higher, else they will laugh at you.
Other than that, computer programming.
i love computer programming. glad you like it too.
OPEN, yay or nay?
Yay on Open but small.
I am amazed and know not what to say.
Thanks Fly. Always entertaining/informational.
Do you have an opinion on TCX, a canadian micro cap. They seem legit in the sense they make money, have a cheap valuation, and little debt…
and since march they have been ripping
goodgreed – tcx has bought back a ton of stock in the last 2 years with their cash flow and this low count finally caught up to the share price. the fundamental business hasn’t changed substantially, though they are launching a few new interesting products. given it’s small market cap and under-the-radar status, i’m not sure there’s a ton of upside from here.
just my $0.02 but i’ve been in and out of this stock for the last 8 years . . .
After sell offs, quality is my preference. Not familiar with tcx
Do you have any favorite short plays?
Long term short GME, BKS works for me.
interesting comment on partners at CA firms.
one would think that they are being prospected aggressively due to their ability to refer potential business.
also don they tend to be more conservative i.e. buy hold?
comment?
Gamblers and no one calls them
Do you, have you, would you…. ever go on TV?
Never ever ever.
I’ve seen flyTV, maybe it was a trained professional actor strutting around in the smoking jacket / robe though?
Liar.
http://en.wikipedia.org/wiki/George_Hamilton_(actor)
I really appreciate the insight of the works you read: Dickens, Tolstoy, HS Thompson, Dumas, and your background undergrad of Economics. It brings out the clarity of how and why you see things in the market. It’s better to spend time in the mind of a genius. Curious, did you read Issacson’s book on Jobs? Plus, do you divulge into books of men whom have great minds – Ford, Einstein, Tesla, Plato? What insight do you gain if you do. Thank you.
Try “Trickle Down Tyranny” (translation: duck Issacson).
I read the Jobs book and loved it.
This was obviously an egregious breech of common courtesy. In order to right this wrong, StockTwits should volunteer two tributes for you to have summarily executed.
All I asked was to be treated as a civilized being.
What’s the easiest way for an outsider to join the uberwealthy FUmoney club?
I am not uberwealthy yet. I’ll let you know when I get there. And if I do get there, you will know how I did it by reading me daily.
Now we can turn to Iran and whether the world and them can come up with a deal this weekend?
BTW it totally amuses me that China and Japan isn’t going to give much to the IMF in the upcoming G20 meeting it appears. IMHO that is why Christine was out saying she doesn’t need that much at all.
fuck stocktwits. that set up was pathetic. ibankcoin is the real deal for one reason. Senor Fly. but beyond that it is the presentation. these halls are not hallowed by fucking accident.
main* reason. A game fail. the entire ibankcoin experience is revolutionary.
Stocktwits is good people. I truly like the guys there. This is just a joke.
Fly
I think we all can agree that this recovery is being propped up by match sticks and Ben’s QE’s.
What single threat to the market keeps you up the most at night?
European contagion still scares me.
Even reading through this was lovely. Thank you, Mr. Fly, for your time and commentary. Much enjoyed and appreciated, as always.
My q for stock twits. Do u like the song red solo cup by Toby Keith?
Fly
This is very, very , very fucking funny
You have won me over
As a result, I will stop throwing stones onto your tin roof
Forthwith
Great comments.
Cervantes would be proud of all you have done.
Fly, Do you read your blog at 3:30am or just watch the europe open? Or just drink tea and read at this time of night?
I just finished a cup of tea and am watching the Ken Burns documentary on the civil war.
lol, You are amazing.
Ever see Ric Burns’ “New York ” Doc?
Nope
I had an ansestor in the war who died of wounds. Before he died he wrote a will that simply stated “give the children a good education”.
Actually he was my ancestor. Pardon my spelling.
Fly,
I live in Africa, what are your thoughts on investing in Africa?
QJ
I don’t like Africa. Too many Africans.
I love it. They cannot expect gentelmen to reside in such plain Jane accomodations. While you are in the mood or pointing out their folly and seeing how much more influence you have. You could inform them that their app is very frustrating seeing how it has the habit of deleting my watchlist and placing only trending stocks to follow thus wasting valuble time re-entering a gentelmens favorate stocks each time.
What are the chances of DECK returning to $90-100 by holiday season? Also, when did you expect GLW to catch fire? Thanks Fly.
Not sure. Sam Poser from Sterne is the authority on DECK. Whatever he says goes.
Whats the greatest thing you ever saw?
I saw some ouji board shit that cannot be explained. I was 10.
I also saw one of my battery operated toys work without batteries after my Father died. There were witnesses.
have you played with a Ouji board since?
No. I wasn’t on it. Just witnessed
Have you ever written a rap song?
no. And if I did, you have no proof.
sad to have missed this fiasco. was out with the little lady all night. this looked pretty awesome hahha. your the best at this fly
LIKE A SIR!
nothing less
For people who have day jobs in other fields but have developed a penchant for stock trading and investing, what is your advice in general for managing money when time usually cannot be spent during the normal workday?
How much time watching the market do you believe it actually takes to succeed in this game vs. how much is preparation and outside work while the market is closed? I want to get rich in stocks but without making it my job (even though I really like it) or watching every tick – Is it possible in your view?
Thanks. Hope a late question will still get a reply, since I missed the forum.
I believe you can make plenty of money in stocks while maintaining full job. Plus, your full time job can finance your stock market adventures.
You just need to make sure to buy stocks that aren’t subject to insane moves. Invest for a longer term time horizon.
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