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
21,396 Blog Posts

Late Night Thought

My IQ of 155 is at least 50 points higher than the average reader of this blog.

Fuck off, you (internet leech).

Back to drinking myself smart.

NOTE: Some light late night reading, for you armaggadeon lovers.

UPDATE: DMX is a great man.

What the fuck is a Barack?! Barack Obama. Where he from, Africa?

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66 comments

  1. Dinosaur Trader

    I read that article you linked, and all I could think was, “Man, I’m so happy I’m rich, because poor people are nasty.”

    Fuck the poor, eat the homeless.

    -DT

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  2. Breakfast Meat

    If I had a dog as ugly as you I’d shave his ass and make him walk backwards. Arf! Arf!

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  3. Sucks to get caught short
    Sucks to get caught short

    Yup!

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  4. m

    I should move to california and buy a home… If you look at price to rent ratio, it’s still waaayyy overpriced though, even factoring in their population growth and inflation, and prime location

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  5. JakeGint

    “Late Night Thought?”

    What are you, 48?

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  6. Leawoodblues

    Fly is drinking and posting again……and he’s delusional.

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  7. The Fly

    NEVER!

    LIAR!

    THIEF!

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  8. JakeGint

    So, like… Having a bunch of cats and dogs chained together on the front lawn is considered… “declasse?”

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  9. cuervoslaugh

    Oddly enough, Modesto was the basis for George Lucas’ movie “American Graffiti” as it was loosely based on his memories of small town life in the “simpler times”.

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  10. gappingandyapping
    gappingandyapping

    I have been doing some late night reading and anyone who is surprised by the Bear Stearns fuckup is a fuckup themselves. I am personally a fuckup for not shorting the fuck out of these idiots back in November. Fuck FUCK FUCK!!! And to think it was right in my face all that time.

    http://www.portfolio.com/views/columns/wall-street/2007/10/15/Bear-Stearns-Troubles

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  11. The Fly

    I covered my Bear short, Tuesday of last week.

    I was not interested in the move to $2.

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  12. The Fly

    Boomer nailed that HWAY short call, by the way.

    Too bad he didn’t violate lent to short it.

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  13. StocksRider

    Caution when you look at California. I might be stating the obvious but California is really a tale of two lands – one that faces limited inventory (coastal counties) and the other that faces unlimited inventory and hence worse periods. Modesto falls in the latter. For example, in Northern Calif, nothing in san mateo, san francisco or marin counties is significantly going down in terms of prices although houses are remaining in open market for a longer time. While people in deep East bay suburbs are witnessing blood bath. The situation seems similar to the differences between Manhattan and the New Jersey burbs.

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  14. gappingandyapping
    gappingandyapping

    Fly you could have hit a lottery ticket on the BSC short. Speaking of lottery, how about 51 cool millions on those BSC puts. Wow.

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  15. Leawoodblues

    I did not have a trade on BSC, but as I was watching it crater last week, it reminded me of a show on National geographic – A tribe of chimps ruthlessly picked out a weak male and beat him to death in the span of about two minutes.

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  16. BOOMER

    I made a few good calls last year:

    HWAY short
    BOOM to 68 (got to 66)
    YHOO long if it hit 18, it did

    Still pending:

    ETFC goes under

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  17. punyandy

    Any of you dickheads touching the Visa IPO tomorrow morning? Priced at $44, any guesses where it opens?

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  18. BOOMER

    I say Visa come out at $60, then fades.

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  19. gappingandyapping
    gappingandyapping

    For old time sake I figured I would remind everyone what happens when things are going “Too fucking good”

    http://finance.yahoo.com/q/bc?s=MNCSE.OB&t=5y&l=on&z=m&q=l&c=

    Just remember even your favorite stock can crater even if its been up 500 days in a row.

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  20. The Fly

    I will sell short V on the open trade and ride it all the way to zero, where Jamie Dimon will buy them.

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  21. gappingandyapping
    gappingandyapping

    Wha dat u sippin own playa? We fitin go oyer Rev Wright’s crib, you in on dis main?

    We got dat crackizzle fo ya. Let brotha Brock hook yous up foh shoh.

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  22. Can of Corn Humper
    Can of Corn Humper

    Both Lehman and Goldman tapped the FED’s discount window tonight. If your stock doubles in two days in the case of Lehman, putting on an additonal $12 billion in market cap, should you really need to go to the “lender of last resort” for your financings?

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  23. ottnott

    StockRider wrote:
    Caution when you look at California. I might be stating the obvious but California is really a tale of two lands – one that faces limited inventory (coastal counties) and the other that faces unlimited inventory and hence worse periods.

    True, that, but guess what happens to people who misinterpret “limited inventory” as “can’t go down”?

    Below is a list of properties in a coastal California town (about 30 min N of downtown San Diego) that recently had notices of trustee’s sale date posted. Compare the amount owed the bank to the original purchase price and marvel. Do you think the person who made the $420,000 purchase in July 2004 and now owes $1,019,244 has put the added $600k to work in investments?

    It is numbers like that that have me pessimistic about the economy and the financial sector.

    The table is unlikely to reproduce below, so try the link if you want a readable format.

    http://www.bubbleinfo.com/

    Street Address Br/Ba Sq. Ft. Last Sales Price/Date Amount Owed Bank
    524 Stern 4/3 2,798 $554,000 – 2/00 $967,337
    7777 Falda 3/2 1,414 $380,000 – 4/02 $460,501
    3012 Ave. Christina 3/2.5 1,350 $260,000 – 1/02 $373,514
    7206 Durango 4/3 2,699 $725,000 – 7/04 $756,518
    7484 Altiva 1/1 723 $245,000 – 1/03 $195,927
    3629 Cheshire 3/2.5 1,362 $230,000 – 3/00 $493,516
    2901 Via Carrio 3/2.5 1,716 $449,000 – 1/06 $380,309
    6741 Frenata 3/2.5 2,640 $1.023M – 12/05 $847,318
    945 Buena 3/2 1,162 ?? – 1980 $667,372
    3536 Woodland 3/2.5 1,691 $590,000 – 4/05 $519,546
    4260 Skyline 3/2 1,804 $420,000 – 7/04 $1,019,244
    7924 Terraza Disoma 4/2 1,643 $475,000 – 8/02 $718,203
    7449 Via De Fortuna 3/3 3,663 $150,000 – 12/86 $1,050,915
    6952 Quiet Cove 2/2 1,376 $575,000 – 6/06 $509,085
    832 Kalpati #F 2/2 1,154 $169,500 – 6/00 $322,316
    8016 Paseo Aliso 4/3 2,631 $595,000 – 1/03 $589,018
    7033 Surfbird 3/2.5 1,705 $695,000 – 12/06 $594,457
    1075 Magnolia 3/2 1,900 $208,500 – 5/00 $402,106
    2753 Levante 2/2.5 2,316 $600,000 – 7/04 $488,127
    649 Seaward 3/2.5 2.314 $811,500 – 12/04 $674,289
    2894 Luciernaga 2/2.5 1,824 $266,000 – 4/02 $439,727
    2815 Via Pajaro 3/2.5 1,452 $430,000 – 1/06 $361,253
    2809 Forest View 3/2.5 1,870 $155,000 – 5/85 $715,598
    2656 Levante 3/2 1,964 $670,000 – 7/06 $562,470
    7101 Tanager 3/2.5 2,323 $320,500 – 12/97 $809,860
    2708 El Rastro 4/2.5 2,119 $770,000 – 9/05 $807,550
    3336 Appian 4/3.5 3,639 $628,000 – 10/02 $110,701 (2nd)
    4448 Highland 3/2 2,230 $1.0 million – 11/03 $1,080,825
    3191 Seabury 3/2.5 1,522 $189,000 – 1/97 $623,235
    6282 Topiary 4/3.5 3,272 $872,500 – 3/06 $810,024
    1405 Turquoise 5/3 2,296 $398,000 – 7/00 $775,940
    3597 Granite 3/3 2,031 $710,000 – 5/07 $599,167

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  24. Ben's Killa Beard
    Ben's Killa Beard

    I just pulled out my checkbook and intend to buy all those properties. I’ve got an endless supply of money. Fairly soon, I will own a good portion of 5 states.It’s just that simple.

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  25. ottnott

    test attempt deleted

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  26. alphadawgg

    Fly,

    As long as you are drinking yourself into a stupor, may I suggest a bottle of Romanée-Conti, Red Burgundy, 1990?

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  27. Breakfast Meat

    Bar Fly?

    Q: What do the bouncers say before they toss Fly out on hizazz?

    A: Fly, Fly!

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  28. lol

    I live near these properties haha

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  29. haileris

    Stopped out on GLD today. Looking to possibly go significantly long tomorrow.

    Any bad news will be responded with “Oh the Fed will bail them out”. Fucking corporate socialism bullshit.

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  30. Harris

    155 IQ? You’re a troglodyte who is making up all his trades and living off the remaining wealth left to you by a maiden aunt who married rich.

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  31. DMX

    “Anything that’s not positive, I don’t have the energy to focus on it. Anything that’s not going in the right direction I don’t have the time or the energy. If somebody step to my face, I’ma take care of ’em, that’s something different. What people think, I don’t give a fuck about none of that shit ’cause they ain’t putting money in my pocket. They ain’t taking no money out of my pocket.”
    Words to fucking live by.

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  32. mdawsz

    What do you suppose is DMX’s IQ???

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  33. DMX

    DMX’s IQ is either 31 or 254.

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  34. The Fly

    Like I said, DMX is a great man:
    http://en.wikipedia.org/wiki/DMX_(rapper)

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  35. The Fly

    Be sure to scroll to “Criminal History”

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  36. mdawsz

    LOL, I love the last line of his Biography.

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  37. mdawsz

    I wonder if DMX is familiar with Nancy Pelosi?

    http://www.youtube.com/watch?v=59q8waklXhs

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  38. Mushroom Stamp

    You mean Earl Simmons?

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  39. The Fly

    someone is stealing from me.

    Developing…

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  40. lizardman

    primates… they need more draconian blood

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  41. Yeshua

    UK banks are beginning to shit themselves.

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  42. Juice

    After a big up day, watch all the sub90IQ analysts come out of their foxholes with upgrades.

    Just today, they’re upgrading the refiners. They’re all listening to their chart guys. Everyone is a technician. Fundies are out the window.

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  43. wow

    So much for the rally in the dollar:

    Bloomberg.com reports the dollar fell against the euro, erasing most of yesterday’s gains, on speculation the worst U.S. housing slump in a quarter of a century will swell credit-market losses. The currency weakened against the Japanese yen and the Swiss franc after Bank of America predicted the Federal Reserve will lower its target rate by another 75 basis points this year following a reduction to 2.25% yesterday. Reports this week on U.S. mortgage demand and manufacturing will probably show the economy is slowing. “We’re approaching a dollar low, but we probably haven’t seen it yet. The market still expects the Fed to cut aggressively.”

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  44. TraderCaddy

    Here is a possible theory- Profit taking out of commodities and the money put into equities and the dollar.
    I have a swing trade going in DCR (in at 9.35). Should I sell at the opening or wait until the inventory report?

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  45. JakeGint

    Dino Trader Chooses a Candidate:

    (from Fly’s link above)

    ————-

    XXL Mag: (His name is) Barack.

    DMX: What the fuck is a Barack?! Barack Obama. Where he from, Africa?

    XXL Mag Q: Yeah, his dad is from Kenya.

    DMX: Barack Obama?

    XXL Mag Q: Yeah.

    DMX: What the fuck?! That ain’t no fuckin’ name, yo. That ain’t that nigga’s name. You can’t be serious. Barack Obama. Get the fuck outta here.

    XXL Mag Q: You’re telling me you haven’t heard about him before.

    DMX: I ain’t really paying much attention.

    XXL Mag: I mean, it’s pretty big if a Black…

    DMX: Wow, “Barack!” The nigga’s name is Barack. Barack? Nigga named Barack Obama. What the fuck, man?! Is he serious? That ain’t his fuckin’ name. Ima tell this nigga when I see him, “Stop that bullshit. Stop that bullshit” [laughs] “That ain’t your fuckin’ name.” Your momma ain’t name you no damn Barack.

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  46. Gunners

    Futures turned positive.

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  47. JakeGint

    Otts — are those addresses in Carlsbad, by any chance?

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  48. BOOMER

    V is shitting the shower.

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  49. Juice

    The only candidate who gets it. But not enough are listening or wants to listen.

    http://www.house.gov/paul/tst/tst2008/tst031608.htm

    Making a Recession Great

    House Democrats recently adopted a budget with massive tax hikes, many of which are directed at those Americans who can least afford them. By allowing the Bush tax cuts to expire in 2010, this budget will raise income taxes not only on those in the highest income brackets, but raises the lowest bracket from 10% to 15% as well. Estates would again be taxed at 55%. The child tax credit would drop from $1000 to $500. Senior citizens relying on investment income would be hurt by increases in dividend and capital gains taxes. It’s not just that the Democrats want to raise taxes on the rich. They want to raise taxes on everybody.

    The problem is, policing the world is expensive, and if elected officials insist upon continuing to fund our current foreign policy, the money has to come from somewhere. The wars in Iraq and Afghanistan have already cost us over $1 trillion. The Democrats’ budget gives the President all the funding he needs for his foreign policy, so one wonders how serious they ever were about ending the war. While Democrats propose to tax and spend, many Republicans aim to borrow and spend, which hurts the taxpayer just as much in the long run.

    Supporting a welfare state is expensive as well. Over half of our budget goes to mandatory entitlements. The total cost of government now eats up over half of our national income, as calculated by Americans for Tax Reform, and government is growing at an unprecedented rate. Our current financial situation is completely untenable, and the worst part is, as government is becoming more and more voracious, the economy is shrinking.

    The bottom line is that Washington has a serious spending addiction. While both parties debate how to raise the revenue, both parties seem happy to spend over $3 trillion of your money in various ways. While some in Washington criticize the war in Iraq, very few are criticizing the interventionist mindset that got us into the war in the first place. Many so-called “Iraq War critics,” criticize this administration rather than truly opposing the decades old policies that led to war. They claim they will eventually get the troops out of Iraq, but the danger is that they simply plan to move them around to other countries, not bring them home. The American people want peace. Minding our own business is the best way to achieve it. Not only is it also a whole lot cheaper, but free trade and friendship with other countries benefits all involved.

    This spending spree is exactly the wrong policy for an economy on the brink of recession. History has shown that all empires eventually crumble under a worthless currency and with an exhausted military. Since too many of our nation’s leaders haven’t taken the time to learn from history, we are seeing mistakes repeated through recently enacted policies such as the new House budget.

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  50. Gandalf

    Who is the Grima Wormtongue bidding up FED?

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  51. newequity
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  52. JakeGint

    Brucey,

    While I agree with some of what Paul has to say w. regard to entitlements and spending. I wonder how he reconciles this:

    Not only is it also a whole lot cheaper, but free trade and friendship with other countries benefits all involved.

    With “minding our own business.” Why does he think we are in Iraq and trying to stomp out these termites eating away at the infrastructure of civil society?

    Does he really think that if we just “left them all alone” the situation would resolve itself to the benefit of our free trade system?

    If he does, he’s even more cracked than I’d first suspected.

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  53. alphadawgg

    Dems have no idea, no idea!…..

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  54. newequity

    http://www.youtube.com/v/ZDJDfDzi17o&hl=en

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  55. wakeup call

    Fly… this is your wakeup call… you can’t leave your readership starving for content and fly posts when woodshedder only posts once a year

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  56. Yeshua

    Fly is hungover.

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  57. Credit Card Joe

    Fly’s VISA short is not going his way.

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  58. Joey-bag-of credit-cards
    Joey-bag-of credit-cards

    hehe. tru dat.

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  59. JoeyBagOfTricks

    AG names are getting their torso’s blown off

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  60. Crude Broker

    LNN is doing just fine.

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  61. Juice

    Jake – he writes this about why we ended up in Iraq

    “very few are criticizing the interventionist mindset that got us into the war in the first place. Many so-called “Iraq War critics,” criticize this administration rather than truly opposing the decades old policies that led to war.”

    —-

    Just like Cuba/Castro is resolving itself, Russia bankrupted itself, China’s gone capitalist; its not our business to force our ways on others. Lead by example & leave it at that, unless we have an invitation for assistance. You have kids; haven’t you noticed that they learn best by unconsciously imitating their role models, their parents; not by force, which often forces a knee-jerk opposite reaction?

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  62. JakeGint

    Brucie says —

    Just like Cuba/Castro is resolving itself, Russia bankrupted itself, China’s gone capitalist; its not our business to force our ways on others. Lead by example & leave it at that, unless we have an invitation for assistance. You have kids; haven’t you noticed that they learn best by unconsciously imitating their role models, their parents; not by force, which often forces a knee-jerk opposite reaction?

    If my kids start arming terrorists and threatening my ability to run my business, they’re going to get more than a “stearn talking to.”

    btw — Cuba’s “resolved itself?” After a 50 year prison sentence?

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  63. Juice

    We haven’t lost lives or money in Cuba. Probably cause theres no oil, prophecy of 2nd coming, or much we need from them or can lose from them.

    Don’t you know that it is us, the CIA who armed the terrorists/Saddam & Bin Laden? Iran took the baton from us, but we armed Bin Laden to the tune of 23 billion back when he was fighting the Russians and I have no idea how much we gave Saddam to fight Iran. We meddled back then, we are still meddling; all to no avail after all these years, and the problem is now greater than ever, thanks to our meddling then & now.

    I’m sure you’re familiar with that saying that only idiots repeat the same thing over & over again, expecting different results.

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  64. JakeGint

    We armed Bin LAden? What fucked up websites have you been reading.

    Try “The Looming Tower” by Lawrence Wright. No right winger, he, but at least he gets his fact straight.

    We armed all the ME loonies for the same reason we’re cutting off their balls now, to maintain stability, and therefore our trade.

    Time to grow up, flower child.

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