I’ve banned over 1,200 creatures since this site began. Right now, as we speak, there are over 3,700 comments in moderation, the ultimate ‘fag box‘ for people who do not know how to behave themselves. Many of you people, not most but many, are filthy and disgusting animals, more deserving of a claw-hammer about the brains than receiving top shelf financial commentary from the free comforts of your hovels.
I thought I’d add that addendum to today’s commentary.
I’m back from Newport, RI–an amazing place for history buffs. The town is a relic of the gilded age, a time when women ran households to entertain during the summer, and the men smoked cigars with their top hatted neighbors–speaking about matters of excess. If you haven’t been there and live in the north east, I strongly recommend that you do. These important men of industry built monuments for themselves, the size of museums–all for nothing. The money was squandered. Inheritance was misappropriated and their family names are now in ruins (extra Anderson Cooper).
Coincidentally, we are in a new gilded age today. Instead of the money being made in rail, coal and steel, it is being made online and it is being made at a frantic pace. The amount of wealth that is being created, at the top, is staggering and unlike anything the world has ever known.
Snapchat is worth $10 billion? Really?
If so, YELP is too. Do the math and figure out where the stock is going.
I don’t care about market pullbacks and I’m not going to isolate myself inside of a nuclear bomb shelter either. At this moment in time, I am 100% long–with zero cash other than 25% of my assets in TLT. While it’s true, I believe there will be a significant pullback in high valuation stocks in September; it’s also true that history doesn’t repeat itself–it only rhymes. I’m open minded to being wrong. But rarely, if ever, am I proven to be wrong–so good luck betting against me.
With some of my trades ripping higher this morning, I might begin taking some money off the table.
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it must sicken the old money and grandparents to watch this. Years of back breaking labor, black lung, asbestos, to create wealth….and presto some group of hipsters can make it in the snap of a finger online.
It is the new gilded era. The old guard is irrelevant and they know it.
If the new guard were smart they should pull a mark cuban and buy a collar from $GS.
Did you go to the topiary gardens? Beautiful place along with the mansions (extra Breakers).
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I recall going to Newport on a few occasions with my parents when I was young. We navigated along the crags of the cliff walk as the salted air, crashing waves, and greyed sky insulated us from the true treachery of loneliness and greed cast from the Duke estate.
Probably close to the top when I’m gambling with stocks like DGLY and TUBE.
The only time I was in RI was about 13 years ago when I went on a college “trip” with my HS senior daughter.
She checked out Brown in Providence and not to offend anybody, but that school was full of privileged elitist “wannabes” who couldn’t get into Harvard or Princeton.
Thankfully she didn’t go but I remember how surprised I was at how impoverished RI looked when we drove through.
RI is a poor state.
Road map as of June 17th: “”The markets are good from here until mid-July. After the dip, we will buy it up until late August, when we will go to cash, seeking refuge in government bonds.” Was Fly an oracle back then or is he an oracle now?
I just saw that George Soros’ largest holding (13%) was S&P puts ETF
VRNS is up 7% for me today. Still 100% long my basket here.