iBankCoin
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
17,243 Blog Posts

DEATH TO BEST BUY

I couldn’t be happier than right now, seeing BBY down 30% on the news that it is a horrible store. Now if CONN and HGG could just got to zero already, I could consider myself “a fortunate man.” Bear in mind, I do not stand to profit from this debacle, monetarily. But payment of the soul is far more valuable and I truly enjoy seeing people get their “comeuppance.”

Let’s just throw it out there, shall we? It was a horrible holiday season. No one wants to buy stuff from stores anymore, when AMZN is fixing to deliver wares via mini-helicopters.

In the pre-market, shippers and solar stocks are lifting. The Dry Bulk index is bouncing hard and Jennifer is losing money, yet again, short BALT, post 40% decline in the BDI. It goes to show you, and let this be a lesson to many of you: even if you had tomorrow’s newspaper today, that doesn’t mean you can confidently predict how Wall Street will digest said news.

If you enjoy the content at iBankCoin, please follow us on Twitter

15 comments

  1. sk

    Jennifer stupidly said she went long at 6, then got short again when it went up and the BDI was falling. It’s Act V in Jennifer’s “Comedy of Errors”, with the denouement being a swift uppercut to the scrotum.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. qeinfinity

    I’ve tried shorting CONN before, that was painful. I’m still a tiny bit short via a long in HDGE, but there are few companies I have ever wanted to collapse as hard as this terrible retailer.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. heckler

    BBY is a piece of shit store full of silly imbeciles. I loath shopping there

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Jolly

      I recently had a gift card to Best Buy. Walked through the store twice, not finding a single item to buy, before I finally decided to use it to buy an amazon gift card. But on a positive note, have you ever looked at their used phone re-purchase option. I sold a 2 year old phone to them for $75. About twice as much as I could’ve sold it for on Ebay.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
  4. TheHarper

    Wall St. Journal a day in advance? what are we back in the Milken days?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • TheHarper

      Moreover, if you havent read Den of Thieves, by James B. Stewart, I highly suggest it. By God, its a fun book.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • mrboulders

        Sits proudly on my bookshelves – my first read about the financial industry – would like to think that it shed some of my naivety about the motive of some in this industry.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  5. matt_bear

    i read the action as BALT is getting wall st’s confidence as the best run company to handle the rates. There is still a place for clean balance sheets and having your financial house in order.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. matt_bear

    when i was in high school back in the late 90’s, a trip to best buy with my dad was a treat. Drooling over the latest electronics, original playstation games, and car audio crap. Now, it’s just blah. Such is the times.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • Jolly

      I too used to love going to Best Buy and wait for it…….Circuit City. But zero interest now.

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • heckler

        Ah yes, Circuit City! Going to BBY wouldn’t be so bad if it wasn’t full of filthy high schooler dunces, trying to sell me a $2 cable for $20. Maybe they are not all as bad as the one in my neighborhood?

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  7. fifty2weekhi

    Who is Jennifer?

    • 0
    • 0
    • 0 Deem this to be "Fake News"