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
16,985 Blog Posts

Celebrating iBankCoin’s 10th Anniversary, Reflecting on How it All Went Wrong

Ten years ago, iBankCoin was launched. It started as a hobby of mine, which was supposed to be a venue for my creative proclivities. Truth is, it was a cancer that metastasized, introducing me to a world of indecorous booze hounds, introverted backstabbing bastards, and a dizzying panorama of sycophants.

My brokerage business was booming and I was aggressive, born with the gift of gab, able and willing to compete with the losers to the right of me and the losers to the left of me, for clients and assets, propelling me to the very top at my firm.

When I left the firm I had been working at and started my own firm, it served to help feed into my new addiction of blogging on the internet. I met people like Howard Lindzon and Phil Pearlman and thought ‘gee this is great, there are others out there, like me, who wanted to discuss stocks on the internet.’ How stupid I was to believe this was a good thing. I was in the wilderness, more or less on my own, free to do as I liked — teamed up with a small group of writers and a single tech guy, who proved to be extremely dedicated and honorable.

But the blogging continued — and as I delved into this new world — it changed me. I started to ignore my business, which was my childhood passion. During the financial crisis, I was firing clients left and right, absconding with tens of millions in assets — because it bored me and because I no longer wanted to do it. I was to become an ‘e-celeb’ and I was going to tweet all day, respond to comments on my blog, and live out the rest of my days in perfect harmony, loved by some, hated by more.

As time went on, my desire to manage money dissipated like the sands in an hourglass — which led to my retirement from the industry in December of 2015. It wasn’t long after that when I began discussing Trump and all of the fine things happening in DC. My transformation was complete. I was no longer an entrepreneurial investment advisor, a man who started from the bottom and became the youngest partner at his investment bank. I had become the very thing I hated most, a fucktarded asshat blogging about meaningless drivel.

Let this be a lesson to all of those interested in becoming a finance blogger or launching a ‘career’ online — don’t do it. It will only lead to disaster and it won’t be long before you start to question the very essence of life and how it all went wrong.

For me, it all went wrong ten years ago today. I’m sure many of you have enjoyed the site and I have certainly enjoyed writing and sharing my experiences. But let’s be honest with each other for a brief moment, this shit here is fucking retarded.

Ciao.

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22 comments

  1. natehois

    Yes you’ve clearly spiraled into the 7th circle

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  2. gorby

    Time for meat bro.

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  3. bushwacker2

    Your blogging is basically info and entertainment and hopefully you get more Exodus subscribers from it. You are providing a service and interacting with many people which is the key to success in business—so it’s not like you’re spiraling down. It’s just that you should be managing money. Period. Write your commentary on your quarterly reports and keep the blog for your adult humor, daily thoughts and trading diaryJust my $0.02 observation.

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  4. natehois

    I have some advice, don’t take advice from your readers

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  5. hoos

    There’s a small piece of me that hopes this was your last post and the site will be gone in the morning. Leave us all wondering wtf just happened like the tony soprano of blogging. Would be a fitting mic drop to end a spectacular run.

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  6. halfbloodpope

    Have read your blog over past 7 years, WNR was the best of times and FEYE was the worst of times from my vantage point. We all should have just went all in on XIV. Gap was right all along.

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  7. dae42

    Any long ideas? Psssst…it’s a bull market. Has been and will be for a good spell.

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  8. stuckcity

    wanna trade some leads?
    -Hack Broker

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  9. gappingandyapping

    As crazy as it may sound you may just have been happier when there was only Broker A and Broker B chat logs. But then again if that had happened then I would likely have never met such an amazing person, NO HOMO.

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  10. peaches

    Nothing is wrong with you Fly. Just the other guy defending pedophiles and pretending Trump hasn’t bombed as president.

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  11. heckler

    Life is hard perverted weird magic Fly. But no need to get paranoid. Keep on keeping on.

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  12. stuckcity

    Don’t get why you would throw it all away. The training and the climb up to become a successful independent registered rep is no joke. Still remember the days making a 1000 dollars a month for 80 hours of work a week. Living off a bagel a day to survive. Halal meat and rice on a good day, usually when you got an account…I’m still in. I’m in the same hell as you..but for different reasons. The cars don’t matter. The watches and the suits don’t matter. The house (houses?) don’t matter. I’ll always be that kid getting 3 accounts a day dreaming of millions. At least you know how it feels to reach the top (reaching partner and your own firm). I hope you find peace.
    -Hack

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  13. ironbird

    Classic Fly.

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  14. tonka

    So what kind of multiple can you sell an advisory business for in the US?

    Up here in Canada (I know I know ROFLOL) you might get 2x revenue. Basically un-sellable. So you end up with a lot of dinosaurs hanging around as their client base slowly dies off.

    I admire anyone that takes a different path than that.

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  15. clock

    So; how’s everything going Fly?

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  16. duuude

    https://www.youtube.com/watch?v=h7xtMLi-Z_k

    Once upon a time…

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  17. s.k.

    THE FLY IS DEAD

    LONG LIVE THE FLY

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