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
17,255 Blog Posts

Nirvana – Drain You

[youtube:http://www.youtube.com/watch?v=ps3aePhxDTA 450 300]

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The Important Matter of iBankCoin.com

As you know, “The Fly” left that shitbox called Flyonwallstreet.blogspot.com, mainly for cosmetic reasons.

In the first place, it’s embarrassing for someone of my stature to bless the internets, via words of wisdom, on a blogspot address.

For example: Just last week, “The Fly” was out on a boys night out, drinking harsh scotch and eating big steaks, when one of my jerk off friends told everyone at the table about my blog, much to my chagrin.

Shortly thereafter, everyone started asking questions, like: “hey, where can I read that stuff?” or “are you make any money doing it?”

Then it dawned on me. Having the word “blogspot” attached to anything “Fly” is gay– and makes me look poor.

After all, you don’t see real people, with real money, blogging from a fucking blogspot address, do you (if so, please email me, so that I may show my hatfucking friends)?

Moreover, if “The Fly” is going to waste inordinate amounts of time, talking to assholes about the market, he might as well own the fucking real estate– and then sell it for a few million dollars down the road.

In short, “The Fly” is the best blogger on the internet– everyone knows it. Therefore, it makes sense to build iBankCoin.com from the ground up, vacuum all the web traffic from weak third tier bloggers, threaten the viability of inferior first tier blogs, like Realmoney.com, then sell the fucker for a warehouse full of euro’s, much to your chagrin.

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Fly Buy: VMW

I bought 2,000 VMW @ $88.53.

Disclaimer: If you buy VMW because of this post, you will run out of money. And, you may lose money.

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Asshat of the Week Award: Tom Brown

 Friday, March 09, 2007

Without a doubt, this week’s “Asshat of the Week Award” goes to Tom Brown from Second Curve Capital, who also writes tons of fucktarded “bank-tardedness” at Bankstocks.com.

I know Cramer likes to polish this guys knob every chance he gets, but he is a one man wrecking ball– with regards to his fund. Tom has been uber bullish on the sub-prime lenders, recommending and owning shares of NEW and LEND, amongst others. In addition to the sub-prime death spirals, Tom is a big fan of high risk financial stocks, such as CCRT, FMD, NTBK, ECPG etc. Furthermore, he owns the fuckers in size.

On 2/28/2007, Tom recommended, with two pumped fists, LEND, exclaiming:

Given the level of investor panic surrounding the sub-prime borrower lately, I’m feeling very greedy regarding sub-prime lenders these days, and am especially greedy over sub-prime mortgage lenders in particular. (One company among them stands out; I’ll get to it in a minute.) This is one of those times in investing, I believe, when it will pay to be very, very aggressive.”

Clearly,Tom has let old age deteriorate his brain, to the point where fucked up bank stocks “appear” to be good investments.

Also, it’s worth noting, his 800 million dollar hedge fund may be in jeopardy, providing his positions stay down.

I am not aware of his funds agreements, with regards to redemptions. However, I will say, if his partners are permitted to withdraw funds on a quarterly basis, Tom’s 800 million will be substantially less– come March 31st.

Trust me, people smell blood out there and will short the fuck out of his positions, if they knew Second Curve needed to liquidate, in order to meet redemptions.

It has been reported, due to Tom’s asshattery, that Second Curve lost over 8% in January alone and more than 18% in smaller funds. Moreover, according to some of the numbers I crunched, he may be down a staggering 16%+ (not including NEW!), inside two short months of the new year.

To clarify the mess, I had a spreadsheet with Tom’s positions, compiled. However, I do not know how many shares of NEW his fund owns.Considering the current state of NEW, I doubt Second Curve will release that information.

Click here for asshattery.
(spreadsheet of Second Curve’s positions)

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The Important Matter of Japanese Barbers

Just in case you were wondering, I fired my Japanese barber yesterday.

First of all, God forbid I am 5 minutes late– the fucker cancels my appointment. While it’s true, he is a Picasso with the scissors, fuck that. “The Fly” is far too busy and callous, than to arrive at a barbershop on time.

Secondly, that fucker raises his prices–every damn time I’m there. Albeit, we are talking small numbers– 5 bucks here, 10 bucks there. Still, it was getting ridiculous.

So, following yesterday’s hair cut, I asked him, despite the fact he doesn’t speak any English, “what are you using light sweet crude to grease those scissors?” I queried why his prices go up 5 bucks– everytime I visit. However, all he did was nod– because he had no fucking idea what I was saying. So, I said fuck it– and paid the man his inflated, oil adjusted, prices.

I’m sure he would make a great business partner for my Chinese food guy. Couple of assholes they are.

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The Important Matter of General Contractors

Trust me when I tell you, nobody despises general contractors more than “The Fly.” Unfortunately, due to my wife’s desire to constantly build stuff and renovate, I am in non-stop “negotiations” with these jerk-offs.

One guy, named Frank, is obviously in the Italian mafia. He looks like Phil Leotardo and sends a 6’5/275 pound gorilla to “collect,” after every 1/4th of the job is complete. I am constantly arguing with him and his fucking prices are absurd.

For example, he charged me $850 to skim coat and prime a small wall. Whenever I ask him to do a job, his initial reply is: “that’s gonna cost ya.” Then he proceeds to mark me up 300%. Everything starts at 1,000 dollars. Everything.

However, Frank and I have a certain understanding with one another. He probably thinks I sell crack, being so young and able to pay him 30k in cash on a day’s notice. He, on the other hand, has ample supply of “illegal Mexican’s,” who do everything– soup to nuts.

In short, Frank has probably whacked a lot of people to get where he is today. Who am I to debate his inflationary construction bills?

The way I look at it, it’s good for karma. The more money I give Frank, the higher my stocks go.

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The Important Matter of Milk Cartons

I can’t get these fucktarded thoughts out of my head.

On Friday, Eric “the oil barrel” Bolling said he liked DF, because of the rise in milk prices–even though it’s down 10% from his original recommendation.

Fine, I can deal with bad stock advice.

However, he then went on to say: “Hey, but look at the the companies that make milk containers, CCK and OI. They’re doing great.”

At first, I thought nothing of such fucktarded logic. However, as the weekend progressed, I have been thinking about his ridiculous comments– to the great detriment of my 155 IQ.

Now, “The Oil Barrel” is a smart dude. But, will someone explain how higher milk prices will benefit the companies that make fucking milk cartons?

I mean, wouldn’t sky rocketing milk prices be cost prohibitive and result in lower volume? Let’s all be aware that milk is not gasoline, right?

So, unless there is some giant fucking boom in milk, which “The Fly” is unaware. Higher milk prices do dick for the “milk container shit shovelers,” right?

Please confirm my accurate thinking, unless my IQ will continue to drop 1 point per hour–until this milk container issue is resolved.

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The Important Matter of Barry Minkow

First off, I was more than happy to fire Danny last week, but you fuckers expressed your democratic rights, by voting in his favor. As for this week, Danny emailed “The Fly,” explaining his ridiculous work ethic, or lack thereof.

In short, he promises some silly video, shortly. “Elections” will commence, immediately following his fucking video.

As for Barry Minkow:

This is just about the funniest shit to hit Wall Street, since he was thrown in jail in 1988 for being a major dick and criminal.

Seriously, Barry is the reverse Billy Mayes. Instead of pitching a company’s bullshit products, via infomerical– he trashes them. And, he buy puts before doing it.

Funny stuff.

Barry went to jail, back in 1988, for running a publicly traded scam, called ZZZZ Best Carpet Cleaning, who had mob ties to boot. Read all the background noise here.

Now, following a 7 year prison term, Barry has dedicated his life to “fighting fraud,” and is now a “Senior Pastor” at a Church, naturally.

He is reborn, this time with puts in his brokerage account.

Barry is now trying to destroy a company called Usana (USNA). Usana sells vitamins and a myriad of other hippy bullshit. Basically, Usana is an Avon copycat, where regular idiots attempt to become gagillionaires, via selling crap to their friends and family.

As you know, only lazy fucktards sell Avaon. I suspect lazier fucktards sell Usana.

In short, Barry has gone on a frenzied campaign to destroy shareholder value in USNA. He has a website and regularly uploads reverse sales pitches on Youtube.

In my opinion, Barry’s charges are silly and smells like someone trying to make a bundle on his puts.

He claims that most of the retards who sell USNA products lose money and that Usana is using unethical sales techniques, in order to trick people into selling Vita-shit.

Ha!

That’s capitalism fucker. If Barry thinks the multi level marketing world of business is fucked up, he should visit any brokerage firm in America. I’d say roughly 85% of all registered reps fail, within the first two years.

During a registered reps training period, he is belittled, abused and forced to live in poverty. Does that mean the regulators should shut down MER?

If some of the lazy couch potato’s, who sell USNA, can’t make money, I say fuck’em. Not everyone is cut out to be a salesman.

As you know, “it’s a tough racket.”

So, where is “The Fly” going with all this useless information?

Well, I’m thinking about finding Barry Minkow and throwing some spaghetti at him, or help run USNA back to $60, in order to fuck with Barry’s puts.

Frankly, I do not find USNA to be a very appealing company. Without the prospect of destroying Barry, I’d probably throw a bowl of soup at the company’s CEO, if given the opportunity.

However, because of this Minkow, every jackass in America has sold short USNA. The fucking short interest is through the roof and the sentiment is gloomy.

Furthermore, the company is in the midst of a stock buyback program. Should these “pyramid players” beat the lowered numbers on the street, Barry and his friends may go back to jail or lose lots of money.

Either scenario is fine with me.

A short squeeze gentleman. A short squeeze.

Developing…

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