Friday, October 28, 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
14,489 Blog Posts

Garbage Tape

When stocks look good, they get faded. When they look like hell, they melt up again. I’ve elected to remain put with my positions because moving money around has been an exercise in futility. As I speak now, the market looks like shit. Who knows, twenty minutes from now it might look great?

It all comes down to The Fiscal Cliff and how much taxes are going up. Remember, Wall Street hates higher taxes and companies will suspend dividends in order to avoid them. We are looking at a potential albatross for stocks, one that can sink investor sentiment for good. Let’s face it, Wall Street hasn’t been very accommodating to the average investor, with its fucked up flash crashes, accounting fraud and incredibly corrupt IPO practices. Now the government is going to punish the old man in the wheeled chair, who no longer derives income from bank held CDs because rates are 0%, by raising taxes on dividend income!!?!

Holy shit, I can’t think of a worse way to ruin the market. It’s like they’re doing it on purpose, in order to funnel money out of equities back into real estate.

All I know is this: never trust policy makers. All they do it create and destroy bubbles. Make sure you have at least 30% cash before the year ends, maybe sooner. I am not buying a damn thing without selling something first.

If you enjoy the content at iBankCoin, please like our Facebook page


  1. acehood

    $WNC is the new CD.

  2. Frog

    Well, that’s a new idea to me. I never thought that policy makers might be trying to funnel money out of equities back into real estate. Who knows? Could be.

    Policy makers seem to usually have different ideas than the rest of us about how an econmic recovery would/should happen.

  3. republicat

    Elizabeth Warren lands on Senate Banking Committee;
    Get ready for serious rhetorical bashing of all things finance.

  4. Dr. No

    Same with Gold….would you rather own Gold or a House….Right now?

  5. joe

    spx is at same lvl it was 8 months ago

    btw, you saved my ass on BIDU

    thank you !!

  6. JTU

    Fear of going over the Fiscal Cliff is way overblown!

  7. Frog

    I have noticed that every time I drive over an imaginary cliff, nothing happens. But then, imaginary things often make a lot of difference to the stock market.

  8. Frog

    Looks like the party of big government wants a ton of federal aid, LOL. Everyone, regardless of party, wants a lot of money & stuff for THEIR constituents, & wants EVERYONE ELSE to have austerity.

  9. flyaway18

    Good post (and yes, you get that a lot)

  10. djmarcus

    fly- reits and mlps are taxed at ordinary income and haven’t really sold off recently. moreover, they are trading at relative valuation highs vs the s and p 500… wouldnt you expect these sectors to get hit hardest?

  11. Santellisux

    The old man in the wheelchair doesn’t own any dividend paying stocks. All he’s got is got social security and Medicare. Both of which Republicans never wanted him to have in the firstplace.

  12. figesmalls

    I can’t wait for your 2013 predictions. Question on VHC….could / would AAPL buy them?