Sifting Through Trash, In Search for Treasure

Taking a cue from The Option Addict, I’ve been rummaging through the garbage this evening, eating small morsels of lettuce and chunks of tomatoes — in search of a good meal. Year to date, I’ve been amply rewarded by merely abiding by the laws of Exodus. Forthwith, I’ll be getting increasingly aggressive, proactively punching people in the face for sport and good measure.

I want to buy a very small, low float, piece of shit — and ride it up fast. I imagine myself gliding on top of mountains of hundred dollar bills, spitting on naysayers from this blog who leave disparaging comments about me on this bloggery.

I am Master and Commander here. Any comments aimed towards me in a malevolent way is deemed treasonous and can lead to your execution.

Here are my some of my ideas. I will narrow it down to one tomorrow, or find some new ones, and buy the fucktard out of it.

CBAK, CAAS, AXSM, AUDC, DYSL, LPTH, FRSH, AMBR, CMCM

What is on your piece of shit stock watchlists?

Dow up more than 100, the shnazzy nazzy got jazzy and lifted more than 50 — which, effectively, crushed the hopes and dreams of countless assholes clamoring for lower prices. Even shares of TWTR were uplifted today, spirits are up and people are feeling their fucking oats.

So what exactly is the end game in all this unchecked, unfettered, glorious stock market fun?

I suppose it’ll conclude like all rallies, swimming in the tears of those who bought last. But look at all of those gains. Just yesterday I was somewhat concerned over my EDIT position. Today’s boost gave me hope, provided me with confidence, that God is looking out for me. He doesn’t want me to live a life of poverty and wants me to be able to enjoy champagne breakfasts; after all, why the hell not?

Oil stocks crushed higher too. I’ve been dead wrong about those. Too late to buy? Of course not.

Investment banks spiraled higher too. Anyone long FAS?

Or how about XIV?

Or how about GPS, LB or NFLX or DPZ or WEN or motherfucking BYD — cause casinos are the place to be these days?

Yesterday we reviewed the devilish Seth Klarman from Baupost who owns $911m (an inside job) worth of Puerto Rican debt. Today, the co-founder of Highland Capital, Mark Okada told the trolls at CNBC that he was giving the destroyed island a second look, especially since ‘they’ve gotten crushed.’

Responding to Trump’s comments that PR bonds should be ‘wiped out’, Okada said ‘people are getting poured out of their trades’ and that people are ‘overreacting to what Trump said.’

“Puerto Rico kind of looked to us like a bad company with a bad balance sheet,” said Okada. “It’s hard to say that given the tragedy that they’re facing. But really from an economic endgame, you really need to have growth, you need to have a viable economic picture to have anything to work out in distress.”

“We’re glad we’re not in it.”

An evil man

The stock is ‘cheap.’

If I lose money on this trade, I promise to Periscope throwing myself down a flight of stairs.

Get some faggot flavored water and then enjoy an ejaculation of profits all over your face.

UPDATE: Exodus is back up.

Last night I was toiling away on a hot computer, writing my book about the nascency of the dot com bubble, through my perspective, and was shocked to revisit some of my old trades. I keep copious records and have every single trade that I’ve ever done logged in one of my old books. I suppose because I was living through it then in real time, I wasn’t truly able to grasp the gravity of the winship. From the lows in October of 1998 thru the New Year, the Nasdaq rose more than 47%. I placed my entire damned book in stocks that rose 75% in a fortnight, leveraged x2 — because I didn’t know any better.

While this market is nice, quite gentlemanly, it’s nothing like back then.

Hey, but copper is up 2% this morning.

The Bitcoin market is in a dot com like bubble. One of my regrets is not trading it. I’ll be damned if I’m gonna trade it now, after the hyperbolic rise.

For those just tuning in, Exodus IS DOWN for everyone — even me. I’ve been up all night obsessing over it, since I’m a neurotic fucker and I am in contact with tech support who is working on it now. I can only surmise that I am cursed and these sort of details only happen to people like me.

As an aside, I’ve been making cold brew coffee recently. Pretty damn good, if I don’t say. Any of you jimmies make yourselves some cold brew coffee?

We’re having technical difficulties inside Exodus this morning — one of my favorite things in the world to be harassed by. If you’re having trouble logging in, please email me and let me know. Flybroker at gmail.com.

Futures are flat this morning and Europe is boring me to pieces. Do not concern yourselves with what looks like a rather moribund start of that day. As soon as the market opens, Mr. Hyde will come out and ransack the place.

Quick questions for you mailfags out there. What happens to FDX/UPS when AMZN finally decides and says ‘enough it enough’ and creates their own carrier service? Why in the hell wouldn’t they? Also, once drones start replacing local deliveries, I don’t see a very bright future for them. Perhaps in our lifetime we will get to preside over the watery graves of FDX/UPS. That would be a delightful specter.

Then again, lawyers need them to Fedex lawsuits, so there might be a niche for them. If only we could get rid of lawyers too. How about this, let’s get rid of all the guns, the lawyers, and all of the govt officials. We could have a govt run by instant plebiscite via mobile phones.

To sign peace treaty with China, press 1.
To attack China with nuclear weapons, press 2.
To do not, press 3.

It would be good times, with constant happenings. We could enjoy our free-dumbs without every having to worry about armed revolt against the government or litigious weasels bothering us during supper.

Why Isn't the Senate Intel Committee looking into the Fake News Networks in OUR country to see why so much of our news is just made up-FAKE!

— Donald J. Trump (@realDonaldTrump) October 5, 2017

Good question. We need to get rid of all that FAKE NEWS, like NBC, CNN and NY Times. How can we make it happen? Perhaps a new news channel, like DC Real News, sponsored by the FUCKTARDS at the CIA/NSA?

Spain is higher by 1.3%. It’s a funny thing watching the IBEX now. The ups and downs of the index are now irrestibly intertwined with the amount of freedom given to Catalonians. Higher=fucked, Lower=FREEDOM.

In other news, gold is +0.38%. Are there any gold bugs left or have the balance of you been coopted by the corporate whores posting as Mr. Robots in the ‘blockchain’?

Andrew Left from Citron Research is calling for the FTC to investigate the company for being an Herbal Life tier scam — preying on retards with promises of becoming a millionaire. I am not surprised, whatsoever. Canadians, innately, lack the moral compass to conduct business without schemes. To back up my assertion, I point you to Blackberry, Nortel, Canadian Goose etc.

So what’s the problem?

Out of the claimed 500,000 websites, Shopify has about 2,500 “Plus” clients and maybe another 20,000 “Advanced”. So where are the other 450,000 + websites????

Funny, this problem was first addressed when Shopify CEO Tobias Lutke knocked on Venture Capital’s door. As we read in a Bloomberg article.

I guess the great minds on Sand Hill Road never thought that the pressure of Wall Street can cause some companies to cross over to the dark side.

Citron will expose the mystery behind those “other web sites”. Just like analyst reports don’t discuss churn, they miss Shopify’s deepest darkest secret.

IT’S A FUCKING SCHEME.
IT’S A FUCKING SCHEME.
IT’S A FUCKING SCHEME.
IT’S A FUCKING SCHEME.
IT’S A FUCKING SCHEME.

The stock fell by 11% today on this report. The stock is up 139% year to date, trading 23x sales.

At a minimum, Left says the stock is worth $55 before the FTC gets involved.

The financial illiterate folks over at the Intercept ‘broke’ a story today, revealing the owner of ~$1b in Puerto Rican debt, apparently hidden under elaborate layers of shell companies. This dog’s name is Seth Klarman, legendary hedge fund manager at the $30b aum Baupost.

The Intercept weighs in.

That mystery has finally been solved, with the help of the The Baupost Group, who unmasked themselves to The Intercept. The Baupost Group, a Boston-based hedge fund managed by billionaire Seth Klarman, owns nearly a billion dollars of Puerto Rican debt, purchased under a shell company subsidiary and hidden from public scrutiny. Baupost acquired the debt through an on-paper Delaware-based corporation named Decagon Holdings LLC, whose beneficial owner had been unknown until now.

Though the island, currently recovering from a catastrophic hurricane, has been mired in a borrowing crisis for years, it’s difficult to get precise information about the creditors. Many of them scooped up bonds on the cheap, seeking an astronomical payout by forcing the island to pay them back at par (or 100 cents on the dollar). This has led to widespread suffering, as punishing austerity has been imposed to encourage Puerto Rico to pay back the bondholders in full. (Only now has some of this austerity been lifted in the wake of Hurricane Maria.)

“What’s incredible about this is these people were actually hiding,” said Lopez. “In the case of this person, he’s in Boston which has a large Puerto Rican community … Our work right now will be about activating our community in Boston, letting them know this person has been hiding and making sure we go to his houses and his companies to hold them accountable.”

What in the actual fuck? These people, quite literally, are viewing the world upside down. Baupost is LENDING Puerto Rico money to provide their people with funding they desperately need. Money isn’t free (I can’t believe I have to explain this) and those with money normally charge a fee to let others without money borrow it. Do the folks over at The Intercept believe Baupost should simply give Puerto Rico a billion dollars for free, out of the goodness of their heart. Do they not understand that the island of Puerto Rico has been living off debt for decades and desperately need to maintain their credit in order to finance life?

Naturally, people on Twitter have demonized Klarman, protesting his capitalistic ways as evil.

Send your letters, or post cards from #PuertoRico to:

Seth Klarman
The Baupost Group
10 Saint James Avenue, Suite 1700
Boston, MA 02116

— GIS?LL? (@voidofchill) October 3, 2017

#Klarman #Baupost #COFINA buy PR debt cheap SHIELDS ID of investors Payback @100cts on $
COMPLIANT IN MISERY https://t.co/5EWmVHyVjo

— Eileen Taylor (@eltpac) October 4, 2017

Wow… #Baupost ? This seems bad. Then again it’s the investment world. #boston https://t.co/99MXkcOnHL

— Madeline Donohue (@MaddyDono) October 4, 2017

CNBC should know better than to report on this as if it was an actual bad thing.

Fucking idiots.

For those unfamiliar with the dot com era (I hope to soon educate you with my story), it was commonplace for companies to change their names to (Company).com, just to stoke a rally in their shares. If you missed out on all of that fun, do not worry — you will get a chance to relive that grandeur.

Introducing Riot Blockchain, formerly known as Bioptix.

Via Bloomberg:

Bioptix Inc., a maker of diagnostic machinery for the biotech industry, is jumping on the digital-currencies bandwagon. The Castle Rock, Colorado-based company is changing its name to Riot Blockchain Inc. as it shifts its focus to buying up cryptocurrency and blockchain companies. Its first move under the new moniker is an investment in Coinsquare Ltd., a Canadian exchange for trading digital tokens. Other companies have proven that a move into the cryptocurrency space is often rewarded by investors, at least initially, as the astronomical increase in the value of digital tokens like bitcoin has lured everyone from big banks to startups. Overstock.com Inc. shares rallied after the online retailer said it was starting a digital-coin exchange.

Shares of MGT Capital Investments Inc., the cybersecurity firm with ties to controversial anti-virus software developer John McAfee, soared after the company announced a move into bitcoin mining, though the stock has since pared its gains. Formerly known as Venaxis Inc., Bioptix bought out BiOptix Diagnostics Inc. in 2016, which wasnâ??t the best move, according to Chief Executive Officer Michael Beeghley, who said the company wasnâ??t in a big enough market and noted its significant cash burn. â??When I got on the board, they had made an acquisition that we decided as a board did not make sense, so we closed that down and then decided to change our focus,â? he said Tuesday in a phone interview.

We looked at the sector and said, â??How can we participate in this, and how can our shareholders participate in this very exciting industry thatâ??s like the beginning of the internet? Riot is paying a few million dollars for about a 12 percent interest in Coinsquare, and has warrants to increase its stake to 20 percent, Beeghley said. Next, the CEO is looking to buy companies focused on bitcoin mining, blockchain and security software. He plans to fund the deals with a combination of cash on hand and stock. â??Weâ??ve had a lot of success taking companies where we have closed down operations and identifying new sectors to invest,â? said Beeghley, who became CEO of Bioptix in April. â??The most recent is Polarity — ticker symbol COOL — which we took public in March.

When this news broke, shares were up as much s 21%. Since then, the stock has traded lower, as profit takers stepped in. Over the past month, the shares have been en fuego.

With upwards of $74 billion in municipal debt, Puerto Rico might win the debt-forgiveness lottery, post Hurricane Maria. In an interview with Fox, Trump said Puerto Rican debt should be ‘wiped out.’

“We are going to work something out” regarding Puerto Rico’s debt, Trump said.

“We have to look at their whole debt structure,” Trump said in a Fox News interview Tuesday. “You know they owe a lot of money to your friends on Wall Street. We’re gonna have to wipe that out. That’s gonna have to be — you know, you can say goodbye to that. I don’t know if it’s Goldman Sachs but whoever it is, you can wave goodbye to that.”

Today the President’s spokesman is trying to walk those comments back. But it’s too late. Debtfags are getting BTFO.

“I think what you heard the president say is that Puerto Rico is going to have to figure out a way to solve its debt problem,” Mick Mulvaney, director of the White House budget office, said in an interview Wednesday. “We are not going to bail them out. We are not going to pay off those debts. We are not going to bail out those bond holders.”

Puerto Rican bonds getting clobbered after those Trump comments about wiping out the debt https://t.co/g58phdIeAW pic.twitter.com/XICGmgUJXH

— Joe Weisenthal (@TheStalwart) October 4, 2017

Former Sec. of Treasury, Larry Summer is shitposting on Twitter about this, praising the idea of simply canceling the debt burden.

Treasury Secretary @stevenmnuchin1 should follow his boss this time. Write off Puerto Rico's debt.

— Lawrence H. Summers (@LHSummers) October 4, 2017

If ever there was a case for a full debt write off, it's Puerto Rico.

— Lawrence H. Summers (@LHSummers) October 4, 2017

Any dollar of Puerto Rico debt paid to Wall Street is a dollar more of taxes on Main Street.

— Lawrence H. Summers (@LHSummers) October 4, 2017

I have an even better idea.

While the government of Puerto Rico is beset by massive debt loads thanks to decades of corruption of retarded governance, the people are the one’s truly bearing the brunt of Maria. Agreed? Instead of canceling the municipal debt, which could always be restructured, why don’t we offer the people of Puerto Rico a true gesture of generosity and CANCEL THEIR CREDIT CARD AND MORTGAGE DEBT?

Why the fuck not? We could have a real life Fight Club scenario playing out there. I am certain the benevolent do-gooders at JP Morgan and Bank of America will support this idea.

One of the potential losers in all this is the evil Baupost, who owns PR debt. How dare they lend them money!

Klarman's Boston-based Baupost Group holds ~$1 billion of Puerto Rico's via shell called Decagon https://t.co/KpVPiWRGGN 2/3

— ACRE (@ACREcampaigns) October 3, 2017