A monster pre-announcement by Lehman Brothers Holdings Inc. [[LEH]] is all the rage on Wall Street this morning. Look for the sub-par investment bank to open their big stupid mouths this week, admitting to more write downs.
Very soon, you will begin to see the dastardly bastards from banks raise capital. There will be so many banks going to market with secondaries, it might make your head pop off.
With my money, I am shorting more Morgan Stanley [[MS]] , Merrill Lynch & Co., Inc. [[MER]] , Cathay General Bancorp [[CATY]] and Vulcan Materials Company [[VMC]] —as you read this.
Just know, “The Fly” is poised for greatness, one way or another. Any miscellaneous complaints or bellyaching over the quality of his commentary is always disregarded; because it is a lie.
I can tell you, with a certain amount of certitude, my market gains will be chockfull over the next 2 weeks.
Prepare to witness “The Fly” do it again, while the rest of you just look at your filthy computer screen, in awe, as if you just witnessed Michael Phelps win a 9th gold medal.
Top pick: [[SKF]]
If you enjoy the content at iBankCoin, please follow us on Twitter
die COF
Fly, not related to your above quality commentary – how do we access the IBC PPT rating machine?
The Phelps obsession is teh ghey. VMC to the moon! BWAHAHA!!
Two items:
“The PPT” is far from complete and will be available in about a month. We are adding a ton of features.
Two: anyone who spells “gay” “ghey” is gay.
Scum Bucket Bitchez is a gerbil in Barney Frank’s ass!!
Will the FlyBot provide witty commentary?
Anyone familiar with something called ‘Eggs’? Apparently they’re all the rage.
Who would have thunk it.
I’m trading in my trading software for some chickens.
{sarc off}
Two things:
One– isn’t “Ghey” that Indian cooking butter that’s very tasty?
Two — fuck Phelps, he’s already overexposed. What’s more, fucker looks like Eli Manning’s acromegalic little brother.
My man is the Lightning Bolt. True dat him a gazelle mon!
___
Nice Oscar Wilde quote for the PPT.
I have a feeling The Fly will go down to VMC hq and start tearing shit up if that stock doesn’t fucking behave.
The devil’s greatest trick was convincing the world he didn’t exist. And when academia created the efficient market hypothesis, they concocted the biggest scam ever.
Even my favorite non-Enlgish speaking Romanian goat farmer expects more writedowns out of LEH, yet they keep selling it on the same information, over and over.
My goat farming Romanian friend also expects more writedowns from C. And UBS. And RBS. And MER. And many regional banks.
Keep selling. It won’t be priced in until the Australian aborigines expect more writedowns.
http://crass.on.ru/flash/aaa-1.html
Shed you know this guy?
What if PPT ratings match Value Line ratings? Just asking – inquiring minds you know.
Very close to going 100% cash. None of this makes any sense. Crude down $2? jfc wtf…
Who the fuck is gonna loan/give the banks more money? After all, it’s a shitty investment, just ask the towel heads who have been burned hard, as have the Asians.
Private Equity and the Hedge Funds, despite having a lot of flexibility, still have fiduciary responsibility. As this problem continues to worsen, these fuckers that manage all this coin, will have to explain why they continued to give these insolvent banks more money.
banking coin on TIE. No ego just income.
I thought my portfolio was bad, but Ken Heebner seems to have mysteriously picked all the worst stocks of the last 3 months and put it in his portfolio. I guess Ken is sitting next to me on the short bus now.
UPDATE: wrong link
http://www.247wallst.com/2008/08/ken-heebner-cgm.html
Bennet Sedacca
10:40:55 AM
No positions in stocks mentioned.
Will BAC Assume Countrywide Debt?
Of note and not covered much in the press, Bank of America (BAC) has not yet announced whether it will assume Countrywide debt after buying the shares.
The market is trading like it doesn’t believe that BAC will back stop the debt.
This would be unprecedented for BAC.
It might also call into question what would happen with future deals.
Let’s say Wells Fargo (WFC) is asked to take on Washington Mutual (WM)?
The banks themselves are having trouble financing themselves, so I believe this could become a trend.
A nasty trend.
VMC 1 – Fly – 0
Round two? 😉
J/K – go right in there buddy…
Jake I think that’s ghee, Sahib Bilderberg’s servant can confirm.
What’s up with the Dow? It only trades between 11,500 and 11,700 now? it seems very stuck in it’s range.
Fly: Last time you called the highs on SKF and FXP, you were 100% correct at $200 and $90 respectively.
Of course i did not believe you at the time. However …
Where do you see them going to now ?
Who is dumb enough to loan the banks money?
China and the Middle East.
WWIII is coming and America’s economy will shatter when this happens.