Saturday, November 28, 2015
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Kremlin to Turkey: “Russian planes should never be shot down”


Putin’s spokesman is upping the rhetoric today, casting aspersions and chastising the Turks for their “traitorous” behavior.

“Nobody has the right to traitorously shoot down a Russian plane from behind,” Peskov told Russia’s “News on Saturday” TV programme, calling Turkish evidence purporting to show the Russian SU-24 jet had violated Turkish air space “cartoons”.

“The president is mobilised, fully mobilised, mobilised to the extent that circumstances demand,” said Peskov.

“The circumstances are unprecedented. The gauntlet thrown down to Russia is unprecedented. So naturally the reaction is in line with this threat.”

He then added an important note to the dialogue, regarding Edrogan’s interest in ISIS controlled oil, why they buy it from them, and perhaps providing the sane people of the world with a motive for doing so.

Peskov, according to the TASS news agency, also spoke of how Erdogan’s son had a “certain interest” in the oil industry. Putin has said oil from Syrian territory controlled by Islamic State militants is finding its way to Turkey.

NATO should cut Turkey loose from its alliance. But they won’t, since for some reason, our interests are aligned with theirs.


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Saturday Cinema with Le Fly: Usual Suspects


Has a better thriller ever been made?

If you haven’t seen this movie, you must watch it tonight. It is the ultimate tale of mystery, revenge, power, wrapped up in a giant web of fuckery. When I saw this movie, many years ago, I was take aback by it, as most people who’ve seen it are. There is a cool twist in the plot that makes it one of the most memorable movies you’ll ever see.


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Turkey Wants Apology From Russia For Having to Shoot Down Their Plane


This is giant fuckery on a level never seen before. Instead of conciliatory gestures, the arrogant Turks, in the face of reports of Turks being arrested in Moscow– and a growing consensus to punish Turkey for shooting down a Russian warplane– the Turks take jerk and kick it up a notch (bam, Extra Emeril).

“It is playing with fire to go as far as mistreating our citizens who have gone to Russia,” Erdogan told supporters during a speech in Bayburt, in northeast Turkey. “We really attach a lot of importance to our relations with Russia… We don’t want these relations to suffer harm in any way.”

He said he may speak with Russian President Vladimir Putin at a climate summit in Paris next week. Putin has so far refused to contact Erdogan because Ankara does not want to apologize for the downing of the jet, a Putin aide said.

Erdogan has said Turkey deserves an apology because its air space was violated.

This is a very public humiliation of Russia. As a point in fact, 2015 has been the year to mock, jeer, and ridicule Russia. It’s as if the official US policy was to fuck with them, provoke them, until a new war was established, settling old debts.

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Say what you want about M. Shkreli, but he’s channeling Jay Gould and Commodore Vanderbilt with his recent actions in KBIO.

Him and his friends cornered the market in a micro cap stock, caused a great spike in volume, drove shares up to absurd levels, and now he’s calling in all shorts.

What does that mean?

According to Markit, 49% of KBIO’s shares are short, up from 5%. In order to short sell, one must borrow from a long. Well, what is Shkreli decided to stop lending to shorts, forcing them to buy in?

Forcing them to buy in.

Some lesser sites will reference the great Volkswagon squeeze. But “The Fly” keeps it real and always keeps it old school. Let’s go back to when the squeeze all started, back in the 19th century Harlem Railroad corner.


What the fuck am I talking about?



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Everyone is going to burn in hell. China dry cleaned their markets and the clothing got fucked up.

China’s securities regulator has urged domestic brokerages to cease financing clients’ stocks purchases through swaps and other over-the-counter contracts, two sources with direct knowledge told Reuters, its latest move to reduce leveraged financing risk in its stock markets after a summer plunge.
“After rebounding over 20 percent from its bottom, you need fresh capital to maintain the upward momentum (in Chinese stocks), but recent government measures to deleverage have sparked fears,” said Zhou Lin, analyst at Huatai Securities.
“In addition, I don’t see signs that the economy has bottomed out.”

Further weighing on sentiment was data on Friday showing that profits earned by Chinese industrial companies fell 4.6 percent in October, declining for the fifth consecutive month.
The Chinese yuan also came under pressure, weakening to its lowest level in almost three months as investors braced for a decision on Monday by the International Monetary Fund on whether to include the currency in its reserve basket.

You see the news and I can mull over it with you; but it’s all bullshit. China is a giant steaming pile of horseshit on the side of the road. I anticipate complete and utter ruin in the Chinese streets, vagabonds running wild selling dry noodles to tourists who don’t know any better.

US and European futures are slightly lower, effectively erecting a giant middle finger to the orient.

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“The Fly’s” Guide to a Better Thanksgiving


Classic Thanksgiving material, originally posted 1,000 years ago, on a cave wall.


A Gentleman’s Guide to Thanksgiving Decorum
Wed Nov 21, 2012 4:28pm 53 53,108 views

I like to consider myself to be an expert in decorum. Lucky for you, I am going to share some of my secrets, in order to help you socialize during tomorrow’s Thanksgiving feast.

When hosting, be sure to address each person who enters your home by their proper surname, even if it’s your mother and father.

Example: “Good afternoon Mr. Thomson. I am so happy you could attend, accompanied by the venerable Mrs. Thomson.”

Immediately have someone fetch their outer-garments, then invite them to your parlour for refreshments.

Example: “Mr. and Mrs Thomson, please join me in the parlour. Can I offer you some wine or perhaps something stronger?”

After your guests have loosened up, serve appetizers and ask that they make a small donation to your favorite charity.

Example: “Mr. Thomson, please have a meatball, they’re delectable. They’re made from kobe. Also, let me offer you an opportunity to be charitable. Are you aware that children in Africa do not celebrate Thanksgiving?” (then proceed with sales pitch)

After you’ve achieved your philanthropic goals, ask everyone to sit and prepare for dinner.

Example: “Gentlemen and ladies in attendance, please join me in the dining area, where we will be serving a freshly slaughtered, organic, free range, stuffed bird, cranned berried sauce and other fine delicacies.”

Once seated and served, ask that everyone join hands to say grace. You will perform this function, and do so with the professional acumen that comes natural to you.

Example: “Dear Turkey Gods, thank you for all of this food on this table. I particularly would like to thank you for inventing cranned berried sauce and stuffing. I will be sure to douse your body with gravy and devour you whole. A-fucking-men.” (apologize to the children immediately)

While at the table, small talk is important. Try to address your guests with respect, but let them know who’s boss. It’s also important to frame your sentences in a way that demands a response, in order to keep the party vibrant.

Example: “Mrs. Thomson, would you be kind enough to pass me the gravy, okay, pal? Mr. Thomson, do you see those biscuits over there? Would you be a champ and get them for me? I greatly appreciate your assistance, thanks skip.”

After dinner, dismiss the women from the table, so that they might clean up. Ask for refreshments too.

Example: “Okay ladies, please allow the men to mingle in bitter solitude for a few moments. Dear (referring to wife), go get us some Port and a box of cigars. Mrs. Thomson, make yourself at home. There are plenty of aprons under the sink, if you need one.”

After you’ve had a nice cigar and some dessert wine, re-invite the ladies to join the men in the drawing room to discuss politics and religion.

Example: “Ladies, if you’re done cleaning up, please join us in the drawing room for casual discussion. Mrs. Thomson, how do you feel about Islam?”

Now it’s time to wind down operations. But it’s important to do so without looking rude. You do not want your guests to feel as if you’re kicking them out.

Make believe your pocket-watch isn’t working, tapping on it, complaining “this darn thing stopped working again. Can anyone be so kind as to tell me what time is it?” After hearing the time, address a guest in a specific manner to make her feel as if she’s intruding, but do so without her knowing it is intentional.

Example: “Mrs. Thomson, do you have many things to do tomorrow morning? My wife has been complaining to me all week about getting an early start on this Black Friday thing. Do you intend to wake up with the roosters and join the frenzy?”

When saying goodbye to your guests, be sure to offer parting compliments, prior to waving your hand as they drive away.

Example: “Thank you so much for dining with us tonight Mr. Thomson. Your wife. Ms. (emphasis on Ms.) Thomson looked especially elegant this evening with her costume. Is this Hermes, Ms. Thomson? (As they drive away, while waving and smiling profusely, yell out “Ciao.”

How to Comport Oneself as a Guest at a Thanksgiving Dinner Party
Dr. Fly Thu Nov 28, 2013 12:10am EST 33 Comments 3399

Last year we dove into the etiquette required to host a Thanksgiving Dinner party. Now we will address the important matter of comporting oneself as a guest, during the great holiday of Thanksgiving.

Upon arrival, hand the footman answering the door the sweets in your possession, as a gift to the host. You bring them in abundance, whether or not they are diabetic, on strict diets, or allergic to wheat. You bring them, nonetheless.

Example: “Hello Jeffrey (the name of the footman), please take this chocolate cake to the kitchen as a gift for my diabetic mother-in-law.”

After entering the home, be sure to exchange pleasantries with the hosts, both husband and wife. However, feel free to snub everyone else in a sudden act of aloofness.

Example: “Thank you so much for having us in your home (shaking the hand of the male, then kissing the right cheek of the female, keeping a 6 inch distance at all times). Immediately after being received, walk briskly and with purpose to the rear of the house, making believe everyone else were insignificant peasants of an underclass– invisible.

During refreshments, take up some casual conversation with the older looking men. They tend to harbor a great deal of vitriolic hate, since they’re markedly closer to death. It makes for great cocktail entertainement.

Example: “Hello Bill, have you been seeing all of those elderly people getting punched in the face by hyper-active urban students? I believe they call the game ‘knock-out.’ I read somewhere that Obamacare was going to issue free steel masks for the elderly to pre-empt expensive surgeries. Would you wear one?”

When dinner is announced, be sure to avoid sitting across from attractive ladies, as it might get you in unnecessary trouble with your wife during dinner. When the host requests that everyone donate to his charity of choice, due to some sympathetic cause, excuse yourself to the lavatory until after donations are taken.

Example: After hearing the request, call over one of the footmen and ask him to show you where the bathroom is located. “Excuse me William, would you be a sport and show me where you keep the bathroom hidden. I must relieve myself.”

Just before grace is said, ask the host if you could do the honors of offering a few words of thanks. During your brief speech, be sure to plug your company and/or services in a clever way that might appeal to the affluent gents in attendance.

Example: “Dear Lord, please bless these turkeys before they head into our mouths and stomachs.Thank you for allowing my firm (name of company) to excel this year with 30% gains in the stock market for the fifth consecutive year. I am sure we all have things to be thankful for and I felt it would be selfish of me if I didn’t speak my mind on this joyous occasion to let you know how pleased I am with the talents you’ve bestowed upon me. Omen.” (be sure to say “Omen” and not “Amen”, as it suggests better breeding.)

Following dinner, when the females are introduced to the aprons and the men retire to the antechamber for port and cigars, be sure to ally yourself with most aggressive debater, as it will allow you to vanquish the other males without breaking a sweat.

Example: “Bob is right. All of the evidence points towards CNBC being run by a homosexual mafia. Anyone who suggests otherwise, like Bob said, must have something to hide. QED.” (break the ash from your cigar, inadvertently onto the persian rugs below.) “I’m so sorry about that.”

When the ladies have cleaned up and are re-invited into the drawing room, feel free to establish small talk.

Example: “I really feel that if a mother doesn’t nurse a newborn with her own milk, such a mother is failing at her duties and should be replaced. Any father in his right mind knows this goes against the laws of nature and should prevent this abuse from occurring with all of his will.” Other gents chime in “HEAR! HEAR!” rattling their canes onto the floors below.

After several ladies complain about your remarks in disgust, pardon yourself and blame it on the excessive alcohol being served.

Example: “I am very sorry Mrs. Thompson. I believe Bill here has given me too much to drink, as I am not my usual self. TEN THOUSAND APOLOGIES.”

Shortly after, excuse yourself to the restroom and feign sickness. This will allow you to leave early, and avoid boredom.

Example: After coming back from the bathroom, holding your stomach, say “I am very sorry but Margaret and I must be going now, I am feeling rather ill. Perhaps the turkey or the port didn’t agree with me. Thank you so much for this lovely dinner.” Try to add a slight bit of sarcasm towards the end of the last sentence, but not overtly. You do not want to come off as rude.

When the hosts walk with you to the door to see you out, just before kissing the female host goodbye, make believe you’re about to vomit on her–but catch yourself with a clenched fist to the mouth.

Example: “Bill and Diane, I wish we could stay longer. This was lovely. (lean in to kiss Diane goodbye, then let the faux nausea begin!) Oh, my, I am really feeling rather ill and should depart at once. I bid you goodbye.” (tips hat, pushes open door with cane, exits).

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Bless the Turkey Gods; Long Live Le Fly


I am thankful for being born into this ravenous society, obstacles placed in front of my path. Difficulty levels are orders of magnitude greater now– than ever before.

As a trader and student of the market, I am thankful for all other investors who came before me, imparting their experiences, through the written word, for the benefit of future generations. Right now, I am thankful for Henry Clews’, 28 Years in Wall Street.

It’s fairly obvious to me that making the decision to become a stocked broker was probably the worst decision I ever made. Nevertheless, it has afforded me an existence and this god forsaken stock market, for better of for worse, has provided me with a venue to discuss my thoughts online–building a foundation for what will one day be revered as the single best finance site that was ever created: iBankCoin. I’m a five tool player, son. Get out of my way.

I am thankful for the Tontine Coffee House, NYC, where this NYSE thing all started. The Buttonwood Agreement and that damned tree too: I am thankful. A shout out to the players at the Gallagher’s Evening Exchange. I am thankful for you.

To J.M. Walker: you sold too soon. I am thankful for your mistakes.

Even the losers, I am thankful for you, especially old man Daniel Drew, James C. Flood and Wm. C. Ralston. I’ve learned from your mistakes, more than you probably thought was possible.

At any rate, The Turkey Gods are here. Don’t fight the wave of gravy that is about to crash on you. Embrace it and become the gravy. I’ll see you fuckers on Friday.

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Russian Accuses Turkey of ‘Planned Provocation’


I have little doubt that the vermin in Turkey plotted and schemed, in their little Turkish bath ways, to shoot down a Russian bomber.


Because the Syrian Turkmen were being bombed out into obliteration.

The attack appeared to be “an ambush” and “looks very much like a planned provocation,” Foreign Minister Sergei Lavrov told reporters Wednesday in Moscow, suggesting Turkey was defending Syrian anti-government fighters based in nearby areas. “We can’t leave what happened without a response.”

Then there’s this.

A Russian pilot rescued by special forces backed up the assertion that no warnings were given, “not by radio, not visually,” according to comments to state media.

“If they’d wanted to warn us, they could have shown themselves, taking a parallel course,” the pilot said. “But there was nothing. And the rocket hit the tail of our plane suddenly. We didn’t even get a visual of it in time to take evasive action.”

Bottom line: As much shit as we talk about Russia, in no way are they a declared enemy. Turkey should have warned them, or escort the Russian jet out of their airspace. No, not the fucking Turks. The Turks had to shoot the fucking plane down, because they’re Turks and without brains.

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A Look at Ackman’s Recent $VRX Purchases


BBG view digged deep into the cash strapped (lolz) Pershing Square and how Ackman just took down another 12.5 mill shares of VRX, for just $75 mill.

That’s because he didn’t buy stock: He went to two derivatives dealers, Nomura and UBS, and bought call options on Friday that give him any gains in value of Valeant’s stock above the strike price of $95. He also sold those dealers put options, which put him on the hook for any losses in the value of the stock below the strike price of $60. And he sold other call options with a strike price of $165, capping his upside: If the stock gets above $165, he gives up any further gains. Then he did the same thing again on Monday, only with strike prices of $100, $70 and $130. The options he bought cost about $235 million, plus about $9 million of hedging costs; the options he sold brought in about $169 million. Here’s the accounting:


The result of all of this is a set of payoffs that look, locally, a bit like buying stock; if the stock ends up above $95 but below $165, Ackman has more or less done the equivalent of buying $1.1 billion worth of stock, though with a bit of friction. Further away from today’s price, though, it looks different: If the stock ends up below $95 — and, again, it’s below there now — Ackman avoids some losses, though if Valeant really craters he’s on the hook. And if Valeant ends up back where it was when Ackman was first buying — that is, near $200 — then he misses out on some of the gains.

Ackman is either the most stubborn man on the face of the planet. Or, he is 100% sure, due to thorough investigation, that Bronte Capital and Citron Research are merely feces tossers, men yelling fire in a room filled with pyrophobics.

I am long VRX.

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