I WENT ‘FULL ALBERT ACKMAN’

I sold out of my COST trading position and redeployed those assets into more FCX, SHAK, PAH and I started a new position in VRX.

There’s too much smart money in VRX for this to be a scam. The most likely scenario is, the big scam are the lies that are being purported by the media. If it was just Ackman in VRX, I’d consider the fact that he might be Ron Johnson wrong on VRX.

But there’s too many very capable and competent managers long the stock.

It goes higher.

I sold out of my trading position in COST, which was my largest position. I don’t have time for poisonous chicken salad.

Via CDC site:

Read the Advice to Consumers »
CDC, the U.S. Food and Drug Administration, the U.S. Department of Agriculture Food Safety and Inspection Service, and public health officials in several states are investigating an outbreak of Shiga toxin-producing Escherichia coli O157:H7 (STEC O157:H7) infections.

As of November 23, 2015, 19 people infected with the outbreak strain of STEC O157:H7 have been reported from 7 states.
The majority of illnesses have been reported from states in the western United States.

5 ill people have been hospitalized, and 2 have developed hemolytic uremic syndrome, a type of kidney failure. No deaths have been reported.

The epidemiologic evidence available at this time suggests that rotisserie chicken salad made and sold in Costco Wholesale stores in several states is a likely source of this outbreak.

14 (88%) of 16 people purchased or ate rotisserie chicken salad from Costco in the week before illness started.
The ongoing investigation has not identified what specific ingredient in the chicken salad is linked to illness.

On November 20, 2015, Costco reported to public health officials that the company had removed all remaining rotisserie chicken salad from all stores in the U.S. and stopped further production of the product until further notice.

Consumers who purchased rotisserie chicken salad from any Costco store in the United States on or before November 20, 2015, should not eat it and should throw it away.
Even if some of the rotisserie chicken salad has been eaten and no one has gotten sick, throw the rest of the product away.

This product has a typical shelf life of 3 days and is labeled “Chicken Salad made with Rotisserie Chicken” with item number 37719 on the label.

A picture of the product label is available on the Advice to Consumers page.

This investigation is ongoing. CDC and state and local public health partners are continuing laboratory surveillance through PulseNet to identify additional ill persons and to interview them.
November 24, 2015

The party is over. Just stay away from this stock. It’s 100% scam.

That’s what they call a ‘widow maker’ in my business. Do yourselves a favor and stick to market caps greater than a billion, just as a rule of thumb. You’ll save yourself a lot of heartache.

First off, “BofA/Merrill” is a really stupid name. Why don’t you pick one: Bank of America or Merrill? Second, when was the last time the market has gently glided higher for 16 years? Becaue that’s what BofA/Merrill is suggesting now, with their harebrained research note.

“Based on current valuations, a regression analysis suggests compounded annual returns of 8 percent over the next 10 years with a 90 percent confidence interval of 4-12 percent. While this is below the average returns of 10 percent over the last 50 years, asset allocation is a zero-sum game. Against a backdrop of slow growth and shrinking liquidity, 8 percent is compelling in our view. With a 2 percent dividend yield, we think the S&P 500 will reach 3500 over the next 10 years, implying annual price returns of 6 percent per year.”

Their regression analysis suggests, with 90% confidence, that you’re gonna be bored to pieces with this market, all the way out to the year 2025.

It’s happening again. I don’t know how this Martin Shkreli keeps infecting my life with his brand of asshole; but I seem my be getting annoyed by him far too often.

Recall it was this little asshole who started the biotech rout a few month’s ago, after jacking prices higher for some little known aids drugs. Politicians went apeshit and he admitted to having been short the whole time, netting $15 million in profits from bets against biotechs. Those were his words, not mines.

Now, he’s back in my life in the form of a crazed greedy goblin, in cahoots with friends to manifest the biggest short squeeze the world has ever known. Bear in mind, I love short squeezes. It’s just that, KBIO is a pile of shit, a shell company with a failed drug. And, to boot, because of this epic run from $0.25 to $42 in less than a week, every Tom, Dick, and Harry are speculating over “the next KBIO.”

I guarantee this ends badly, for all parties.

This unchecked speculation into micro-cap biotech is only going to tarnish an already damaged biotech sector. I am here, trying diligently, to manage money into National Festival. I’d like it, very much, if I could do so without the distraction of Russian warplanes being shot down by NATO countries or river boat gambling in the biotech sector.

European markets are down almost 2%. Gold and oil and firming and U.S. futures are plunging lower, after a Russian warplane was shot down near the Turkish-Syrian border, by the retarded Turks.

Putin responded, saying “We understand that everyone has their own interests but we won’t allow such crimes to take place,” Putin said at talks with Jordanian King Abdullah in Sochi. “We received a stab in the back from accomplices of terrorism.”

The Kurds have been complaining about our “allies”, the Turks, for quite sometime, who, seemingly support and fund the psychotics in ISIS. It appears Putin is calling a spade a spade and upping the ante on the rhetoric.

NATO will be convening today, in an emergency meeting, over this fuckery.

It’s turkey for Thanksgiving, always has been.

Great, this is just what we needed in time for the holiday’s, the duplicitous and worst ally in the world, Turkey, plunging us into fresh crisis with a country with something to prove, in Russia.

In case you’re just tuning in, Turkey shot down a Russian SU-24 over Turkish airspace, something Moscow declines. There is video of a Syrian terrorist loving the the injured/Russian pilot on the groud, saying “God is great”, as he films him lying there.

Turkey released this graphic, effectively “proving” they had every right to fucking shoot down a Russian warploane, because, umm, just because.

And to top it all off, NATO is calling an emergency meeting in Brussels to discuss how to deal with this situation with those pesky Russians in the way, who have now, reportedly, blown up 1,000 ISIS oil tankers.

Clearly, we won’t allow any of that to take place, since we’ve hit zero to date.

NASDAQ futs -20.

I know you ball-handlers love that title–because you’ve watched lots of war films and the romance of war on the teevee is cool and manly.

Near the Syrian border, where true hell on earth exists, a Turkish warplane shot  down a Russian su-24. Details are vague and we do not know if it was a Syrian plane or belonging to the Red Russians.

Either way, it’s an escalation of tensions, as Turkey is part of NATO.

Turkish Lira is responding.

These photos are circulating, showing a plane getting pawned and then the proverbial pilot in the owned eject chair, being ferreted away to safety via parachute. Only this time, the pilot is likely to land in the hands of savages who’d love to cut his head off, helmet and all.

There are reports of a Russian helicopter at the scene of te crash and heavy gunfire too.

And then there’s this:

BREAKING: Intense exchange of fire at Turkish-Syrian border as Russian helicopters search for survivors of downed Su-24 jet.

UPDATE: Turk CNN is reporting it was a Russian plane.

UPDATE: The President of Turkey confirms they shot down a Russian warplane.

UPDATE: Nasdaq futs down 22, reversing gains.

UPDATE: BREAKING Russian Defense Ministry says warplane did not violate Turkish air airspace

UPDATE: RUSSIAN DEFENCE MINISTRY SAYS IT CAN PROVE THE AIRCARFT WAS OVER SYRIA FOR WHOLE FLIGHT – IFAX

The luster of Icahn’s NFLX trade has worn off. By the way, it’s worth mentioning that it was Carl’s son who insisted he buy NFLX. Carl wanted to sell it and his son had to threaten to quit the firm, in order to get him to hold it a while longer.

“Permanent capital” Carl doesn’t really give a shit what I think, definitely not what you think either. He’s a thousand years old, worth $20 billion, and buys whatever the fuck he feels like, on any given hour in any given day.

God bless.

The billionaire revealed a 7.13 percent stake in Xerox in a securities filing on Monday, making him the second-largest shareholder of the 109-year-old company.

Icahn, who recently took stakes in American International Group (AIG.N) and Freeport-McMoran Inc (FCX.N), said he would look at getting representation on Xerox’s board, as well as pursuing strategic alternatives.

“We are aware that Carl Icahn has made an investment in the company,” Sean Collins, a Xerox spokesman said. “Xerox welcomes open communications with shareholders and values constructive dialogue.”

Ivan Feinseth, a Tigress Financial Partners LLC analyst, offered a cautious view. “I like Icahn. He has done well but I just don’t know what he can do here,” Feinseth said.

On the other hand, Susquehanna Financial Group LLLP analyst James Friedman said there are multiple things that Icahn can push for in the company, including selling the equity stake in its joint venture Fuji Xerox and separating the Documents business and the IT services business.

Xerox’s IT services business offers business process outsourcing while the document outsourcing business primarily includes sales of printers and copiers.

Friedman thinks Icahn can position himself for a board seat in the upcoming May elections.

“Getting on the board is the easy part, actually fixing the business is harder,” Friedman said.

The last reported position by Uncle Carl was FCX, whose shares have been fucking poleaxed in recent weeks– off 33% over 1 month’s time.

Here is a list of Carl’s holdings, with their YTD returns.

Data provided by Exodus

It’s also worth mentioning the market has gone straight the fuck higher, since Icahn threw shade on the entire market with his absurd “DANGER AHEAD” short film.

Jeff Ubben and co are having their hats eaten for them by the purveyors of the Citron Research blog, as is William Albert Ackman, John Paulson, and many other big, powerful, and strong, hedge fund managers.

This must pain these men of leisure to no end. To succumb to the social pressures of a rabid short seller crowd, based upon the missives of a man with a last name that is the inverse of right, plagues them.

Activist investor ValueAct Capital said its fund fell 8.3 percent during the third quarter, wiping out its gains for the year, hurt by a plunge in shares of its main portfolio company, Valeant Pharmaceuticals International Inc.

For the nine months ending on Sept. 30, the ValueAct Capital Master Fund was down 0.9 percent, ValueAact said in a letter to investors which was seen by Reuters on Monday. As of the second quarter, the fund had been up 8 percent for the year.
ValueAct also said it is launching a new offering for investors that would lock up their money for five years. This new investment tranche will allow ValueAct to draw down capital over a period of three years rather than receive it up front.

“The fund performance in the third quarter was difficult and disappointing,” said the letter, dated Nov. 12, adding that ValueAct saw 10 percent or more share price declines in four of its largest core investments.

As of last filing, ValueAct owned a little more than 4% of Valeant. Due to the “fuck you, you’re dead” nature of the decline, VRX has completely fucked and ruined Valueact’s otherwise solid performance, ravaging the fund of its 8% return.

LOLz