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
22,168 Blog Posts

Another Ax to ‘Global Growth’ Head

Jim “Asshole with a Bow Tie” Rogers’ new home country, Singapore, just caught a fastball to the mustache.

So much for the ‘global growth story’

Singapore’s real gross domestic product rose by an estimated 1.9 percent on year in the second quarter of 2008, the Ministry of Trade and Industry said on Thursday.

That was well below analyst expectations of a 5.1 percent annual increase, and it was also down from the 6.9 percent annual expansion in the previous quarter.

On a quarterly and seasonally adjusted basis, real GDP was down 6.6 percent after an increase of 15.6 percent in the previous quarter.

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48 comments

  1. buylo

    short EWS tomorrow, the Singapore etf?

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  2. ValiumTrader

    LOL

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  3. Jakegint

    “LOL” is right. See censored reply on internal channels.

    _

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  4. YKNOT

    Ha, funny. I was just thinking about that bow tie rocking mofo.

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  5. bow tie fucker

    The real reason I’m in China and on TV trying to justify my decision is I’m trying to get some as Chris Tucker calls “Moo shu”. Thai masseuse makes mee soo horny.
    Ladies love me long time. I show them bow tie, they show me bootie. Them overpopulating Asians want to see my Godzilla and shit.

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  6. Juice

    Listen up piker with a stupid blog; that ‘bow tie with an asshole’ was short’n FNM, banks, investment banks, the USD, way before you saw the light of the dark side. He was going long commodities, ‘seeds & shit’ way before you first had the 160 IQ idea of trying to smoke POT and going long satans ETF, SMN.

    To sum up, fuckface, How about a little R-E-S-P-E-C-T for that ‘Asshole with a BowTie’!

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  7. Aris

    you can only milk the cow for so long before it becomes hamburger.

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  8. The Fly

    Juice= Jim “Asshole with a Stupid Bowtie” Rogers.

    Fuck off man with a thousand different blog handles.

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  9. Awake

    Yo Fly, check your flybroker gmail account, I sent you an email (don’t know if you even check it), you gonna load up on shorts again tomorrow? Bill Poole says FNM and FRE are insolvent, Wachovia is gonna write down a shit-ton… more pain tomorrow I’m thinkin.

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  10. Juice

    Touchy, touchy, at 2:13am.

    I happen to like Jim “Bowtie with an Asshole” Rogers. Yes, yes, I know he’s no Dennis “Asshole with a mic & captive audience” Kneale, but we all can’t be.

    “What’s in a name? That which we call a rose
    By any other name would smell as sweet.”

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  11. The Sheik

    Our master plan in action:

    The transfer of slimy shit underground that goes up in smoke, for prime US real estate, is well underway.

    http://online.wsj.com/article/SB121561441265439259.html?mod=yahoo_hs&ru=yahoo

    Abu Dhabi Fund Acquires
    Most of Chrysler Building
    Deal for 90% Stake
    In New York Icon
    Bucks Weak Market
    By ALEX FRANGOS
    July 10, 2008; Page C3

    An Abu Dhabi sovereign-wealth fund has purchased a majority stake in the Chrysler Building, an iconic New York City skyscraper.

    The Abu Dhabi Investment Council will take a 90% stake in the tower’s ownership for $800 million, according to people familiar with the matter. Tishman Speyer Properties, a New York landlord, will retain the remaining ownership piece and will manage the property.
    [Chrysler Building]
    Associated Press
    The 77-story Chrysler Building was the world’s tallest when made in 1930.

    ADIC purchased its share mostly from a fund managed by Prudential Real Estate Investors, a unit of insurance company Prudential Financial Inc. The fund included European investors, especially Germans. ADIC also purchased a piece of the tower from Tishman Speyer, which previously owned a quarter of the building.

    Prudential spokeswoman Theresa Miller said, “We are proud to have been able to invest in this U.S. icon, and just as proud to be able to deliver exceptional returns for our German clients.”

    Tishman Speyer’s president, Rob Speyer, didn’t return a call seeking comment. Representatives for the Abu Dhabi Investment Council couldn’t be reached.

    The sale, which was reported in Wednesday’s New York Post, comes at a tumultuous time in commercial real estate. The credit crunch has slowed sales of property to a crawl. One bright spot for sellers has been interest from foreign sources of capital, especially oil-rich countries. Funds from Kuwait and Qatar helped finance Boston Properties’ purchase of the coveted General Motors Building and three other New York skyscrapers last month from Macklowe Properties.

    Abu Dhabi’s price for 90% of the tower would value the building at about $890 million, or $742 a square foot. It contains roughly 1.2 million square feet of office and retail space.

    The Cooper Union, an arts and design school, continues to own the land underneath the tower, which it rents to the owners under a long-term land lease, a common feature of New York real-estate ownership. ADIC’s negotiations to buy the stake were reported earlier, but those reports said that ADIC was likely to pay $800 million for a 75% stake, not a 90% stake.

    The 77-story Art Deco tower is one of the most recognizable images on New York’s skyline and was the tallest building in the world when it was built in 1930 to house Chrysler Corp., before being supplanted by the Empire State Building.

    Prudential inherited a 75% stake in the tower when it acquired TMW Real Estate Group, a property-fund manager, in 2002. Tishman Speyer owned the remaining quarter. TMW had paid $300 million for its chunk of the Chrysler Building in 2001 in a closed-end fund it managed on behalf of wealthy European investors. The fund realized a roughly 20% return after taxes per year on its investment.

    Since 2001, property values in New York have increased dramatically, though they have come down between 10% and 15% in the past year as lenders pulled back from making property loans.

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  12. Michelle B

    In addition, Rodgers is living in Singapore to be close to China. It is the Chinese economy in which he is interested. But funny post as usual, esp “just caught a fastball to the mustache.”

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  13. nullpointer

    hey cal-

    my inlaws live in vegas, so i visit every 2 yrs or so. been doing it for the last decade.

    on my last visit (a month ago), i was literally dumbfounded as to how many construction cranes i saw. i think i counted about 20 just in downtown proper. the vast majority of these, i was told, were for condo skyscrapers.

    in addition, i always go house hunting while i am there, just out of curiosity. here is the interesting part: low cost stuff is priced about 20% off, but the mid level stuff is all half off. lots of $800k houses priced at $390k.

    find out what banks are funding those condo developments.

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  14. Sir Douchebag

    Men who wear bowties are either born before 1930 or pedophiles.

    How old is Jim?

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  15. j

    Why is he an arsehole, Fly… apart from the bow tie of course.

    I always found him touting views that support his positions in a dishonest way.

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  16. the Godfather

    Mr Fly is cranky because his favorite steak restaurant was closed last night and he couldn’t eat rib-eye. He had to settle for “whitey castiles” which gave him a bad case of the runs, which is why he was up at 2 AM.

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  17. Flyboy

    What Irony! Fly with his phantom portfolio ragging on Rogers who while perhaps wrong about the next few years has hit home run after home in the last 8. Hell, I could write this blog. Just write you sold whats going down and bought whats going up. Fly makes more money on blog ads than on trading.

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  18. Dick Bove & the US Government

    FNM & FRE are NOT in trouble. They are NOT going to zero.

    IOW, short them to zero.

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  19. BOOMER

    Go long food service. Breaking news:

    T.G.I. Friday’s Executive Chef Recommends Booze-On-Meat-With-Cheese Thing

    SCHAUMBURG, IL—The executive chef of the Tremont Road T.G.I. Friday’s strongly recommended that a table of VIP guests try the evening’s special: a “tender, juicy, and heavily seasoned” booze-on-meat-with-cheese thing. “Tonight’s special is a succulent 8-ounce meat, infused with imported cheese and drizzled with a creamy reduction of booze,” said chef Tom Pinelli, adding that the entrée is served on a bed of cheese and meat, and is best paired with a glass of booze. “However, if you’re in the mood for something a little lighter, we do have a refreshing selection of sauce-on-fish-on-stick stuff, as well as some healthier cheese-filled-meat-under-bacon options.” For vegetarian diners, Pinelli recommended the 56-ounce fried mushroom.

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  20. Hey, “Flyboy”, why are you here if you do not believe The Fly’s portfolio? The Fly probably trades more stock in a day than you do in a year.

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  21. gappingandyapping
    gappingandyapping

    Ok ok I get it high input costs but at some point TSO has to be worth something for the infrastructure. This is getting crazy. I am looking for a place to enter. By the way the people on Fast Money are fucking retards as they have called endless bottoms in the refiners.

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  22. j

    Sheik

    RELAX. The Chrysler building ain’t going anywhere. Bin Ladin could own it and it would still be there. It’s a bag of shit of a building to work anyway.

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  23. Crude Broker

    Gap, The infrastructure is worth nothing. That may sound stupid but it is true. A refinery is a fucking waste of money if you are not making money producing products. If the crack goes negative on all products and its just running at variable cost, TSO can in fact go to $0.00. Even if you could buy that refinery for ten bucks what in the hell are you going to do with it? Chopping it up as scrap metal would be pretty tough and I’m not even sure the government would let you do that. Fucking Feds.

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  24. Aris

    i don’t think i would own a refiner, even with donny’s money.

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  25. ICE

    *twitch*

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  26. gappingandyapping
    gappingandyapping

    Thanks Crude that makes sense but I can’t imagine they would let the spread go negative again. However what is unthinkable can usually be attributed to low IQ levels.

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  27. DSB

    What did Jesse Jackson say exactly?

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  28. PleaseKillMe

    Sorry Fly. Three words: Long corn-based ethanol.

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  29. Jugdesh, Footpad to Rag, Servant of Bilderburg
    Jugdesh, Footpad to Rag, Servant of Bilderburg

    Sahib Rag has been detained in an impromptu mud wrestling match with Bwana Rogers.

    (It’s a long story, but suffice it to say Sahib Bilderburg indulges his personal trader, Mr. Jim Rogers, by allowing him an occassional “tussle” with his #1 manservant Rag, with satin bowties as the only “uniform.” Mr Bilderburg will got to great lengths in order to obtain consistent “execution.”)

    In any event, Rag has instructed me to put the word on the wire: “Listen to him very quietly, and allocate all remaining off shore assets to EEV, the bitter foe of all emerging markets.”

    Your kind attention is most appreciated.

    __

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  30. buckeye bob

    Can anyone say capitulation?? could this be the long awaited day ???

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  31. BOOMER

    The day LEH dies?

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  32. nullpointer

    crude-

    serious question:

    so, what is your thesis?

    ~somebody~ has to refine the crude.

    is your thesis the independents will go away, and the integrateds will run their refineries at a loss, recouping on the other end?

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  33. PleaseKillMe

    I just sent a cheese and sausage basket to the Wall Street Journal for inducing a run on FRE and FNM.

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  34. Jakegint

    DIE NLY DIE!!!

    Mooo hahahahahahahahahahahahaaaaa!!

    _______

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  35. calvino

    Null – DB is heavy in Vegas. There are Cali banks there as well. Maybe Fly and Jakey could help with some names as well.

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  36. Jakegint

    I am too busy stabbing NLY in the eyes with a shrimp fork.

    There is a Bank of Las Vegas, but I’m not sure if its public.

    Go to Duc’s site for a list of very tasty regionals to short. Only problem for Duc, he thinks they’re buys, here. Nut.

    Time to hit RIG again, btw.

    ________

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  37. buckeye bob

    Yahoo – ride em cowboy – wonder how Dick Bove feels today – wow, you can buy the crappy homebuilders HOV, BZH for a happy meal today

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  38. Elvis

    HRB finally broke.

    Thenk yoooouu.

    Thenkyou verrah much.

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  39. chivasontherocks
    chivasontherocks

    Jake,

    did you read my answer to your rally monkey comment?

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  40. boca

    Jeez I gave up on NLY too soon! Good for you for hanging in there Jake.

    Maybe today will finally be the day when it all goes to hell in a handbasket like it needs to, a cleansing purge so to speak.

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  41. Crude Broker

    Yep, looks that way. When it makes sense for BP, Shell, XOM, or COP to buy WNRs stuff or VLOs Memphis, they will. Something has to change here for independents to be a buy and it’s not happening yet. Trust me VLO, WNR, TSO, FTO etc can go to zero in this market.

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  42. sniper6

    DJIA to 11000. Today.

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  43. Jakegint

    Chivas,

    I just tried to find it, but I can’t remember where I made it! Doh!

    __

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  44. Granpa

    Who the fuck elected Maxine Waters? I’m stunned!
    She’s a financial illiterate.

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  45. chivasontherocks
    chivasontherocks

    Jake, under alpha hi-ho

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  46. Jakegint

    Granpa —

    Maxine Waters is actually a robot constructed in Karl Rove’s basement as a joke, and as fodder for future campaign commercials.

    I am volunteering to direct (no charge) the one that catches her talking about socializing the oil companies as a response to high gas prices. Gotta love how she tried to reel it back in after she sputtered it too. Gold.

    Seriously, she was much better as Red Foxx’s foil in Sanford & Son.

    ___

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  47. chivasontherocks
    chivasontherocks

    Jake,

    lmfao

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  48. Jim Rogers always claims he is the world’s worst investment timer, but he usually seems to get the trend right.

    He sold his house in NYC 2 yrs ago? early, perhaps, but better than late

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