You fuckers are besides yourselves due to my egregious winning percentage, aren’t you?
While I’m over here rejoicing in the blood of deformed bearshitters, you sit there pussified about the end of the world.
Fuck that. My senses are on a much higher level than most, if you haven’t figured it out by now: I am a pimp smacking “space alien magician.”
Currently, my cash position is 30%. As I said before, I will hold 25%, no matter what, mainly because I am up nearly 60%, year to date, mind you.
For you rookie idiots, keep note of my legging into positions, as opposed to your nonsensical all in approach. You lose money in the market for two reasons: 1. you are a bad stock picker. 2. you do not know how to build positions.
For example: had you gone long Apple Inc. [[AAPL]] earlier this week, you’d be down more than 10% already. However, if you were patient, and kept cash aside for an average down, you would have the firing power to lower your cost basis here.
As for hedging: I find no reason to hedge, down at these depressed levels. Should the market goose step to 10,000 or higher, I might consider a little [[FXP]] or [[SRS]] . Basically, if there was ever a time to have balls, via egregious stock buys, it is now.
Luckily for me, I am already up big; so I don’t need to go all out here. Instead, I will just roam around my office dumping cigar ashes on Tim Knight’s bullshit blog.
UPDATE: “The Fly” gets his revenge.
[youtube:http://www.youtube.com/watch?v=THn4OmwxT_I 450 300]UPDATE II: I bought 10,000 [[M]] @ $10.15
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Sweet Victory! Sweet Victory! Sweet Victory!
DIG is mowing over Fucktards today! +10%
Amazing the competitive love & respect btw u & Timbo … u both come from very different angles; u both have a lot to offer & both have been taking no prisoners this year.
Its good to see the love.
He certainly doesn’t have your wordsmithery but you can’t draw lines like he.
Fly, what do you expect at the close with the expirations today? Sell off or short squeeze? I’m thinking short squeeze, especially since we broke thru the morning high.
AAPL making a move?
meh
Hey Fly,
What should be the strategy before the end of the day? Lots of options are expiring. Do you anticipate market going lower?
DICK FULD SUBPOENAED!
Sweet Justice!
Stay long. We will surge into the close.
It has been written, therefore it will be done.
Fly,
I added a ton of NOV at $22.50 yesterday, due to your enrobed ranting. Hard not to let some go today to claim partial victory, but saying goodbye to it is hard to do.
Thanks.
Subpoena doesn’t do it for me.
I want him suspended by his ankles from a crane sitting atop a partially completed, now-halted, high-rise luxury condo project and then shaken until $150 billion falls out of his pockets.
I’m bringing a tub of fried chicken and a 2-liter bottle of rootbeer to consume while I watch. I may have to sleep on the couch for a couple days afterward, but I’m willing to make that sacrifice.
“The Fly” shall not sell any NOV. It is the stock most preferred by the Gods.
Who says I am joking?
This was a rare moment this am to get egregiously looong.
There was a rare alignment of best of breed traders trading to the long side:
The Fly
Slope
Buffett
Jake
Todd Harrison
Ritholtz
Holy hot pizza in the face, I forgot how good it feels to be on the right side of a large trade for once.
I’m dumping a bunch of shit at the close though, I don’t trust the commie socialist fuckers to not butcher my profits over the weekend. Cock hags.
and others on this site whom I hadn’t meantioned … u know whom you are
outta here
NOV sell button disengaged in deference to the gods.
Bennet Sedacca
11:39:59 AM
No positions in stocks mentioned.
The Pain Trade
I am watching credit markets and parts of it are better–LIBOR is getting more normal and CP is getting more normal. Yet credit spreads are still wide and not coming in. So there is a bit of a thaw but not much.
I keep listening to TV and keep hearing ‘stay the course and it will all be fine’. I hate to differ, but when you lose 40-50%, you need to double your money just to get back to even. And doubling your money in a prudent fashion is tough to do, last I checked.
Add to this that I have no idea what earnings will be (who does?) and I continue to believe that the ‘pain trade’, the one that hurts the most, is lower.
Resistance lies above in SPX at 960, 1000, 1050 and 1100.
If we blow through the latest ‘tested low’ we shall revisit SPX 775.
Below there? 500. As in S & P 500.
Sex & 150 mph!
Do you now understand Fuckers????????????
We’re all bulls now!
The gods were quick to react to that.
Christopher Walken: “Wowwee- wow-wow-WOW!”
Anton:
For this sacrifice, The Gods will bestow gifts of sporting victories, preferable track.
Go race your neighbors. You are guaranteed to win.
Tim is bullish?
FUCK!!!!!
The glory of this victory has been taken.
Tim- Get back inside the house and do your homework.
One of my neighbors is Danielle Steele. I shall take her for all of her “lady book” profits, and with them build a plutonium statue in your likeness, Sir.
Where’s devildog now?
They Fly’s timemachine > your end of the world ass.
And no kidding, Petey, the line is already forming to sign up for the PPT, like oddly-dressed teenagers for free Kanye West tickets. I think Donny asked whether it also scans ETFs, for those of us who choose to remain at least partially unwashed. But I guess that would be a pretty easy thing to figure out if you know the components.
Time for the iBC IPO.
this warren buffett shit is getting very old…fuck cnbc, dennis leasman(probably the biggest homo on t.v.), charlie gassparino…michele (whatever the fuck her last name is) and bob pisani…
My 401K is now a 200.5K. Almost back to even for the week.
I may not have to move in with Fly’s family after all.
P.S. Fly- Will you please stop flicking your cigar ashes on my lawn?
What do we think of NOV NOV calls at 30 and 40??
This is epic fly-esque:
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.
Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, “What I have learned about the hedge fund business is that I hate it.” I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.
There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.
will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.
So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don’t worry about my employees, they were always employed by Mr. Springer’s company and only one (who has been well-rewarded) will lose his job.
I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life — where I had to compete for spaces in universities and graduate schools, jobs and assets under management — with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.
read on
http://www.cnbc.com/id/27239479
Donny,
Red or Black? Nice work fucker
Fly good hit on NOV,TBT etc etc..
Anton “sell sell sell sell” (Jerry Lewis voice of course)
Listening to KFI AM radio on the internet (LA station) and The Beverly Hills Physician Group has a $4500 breast augmentation special going on for those of you who are interested.
This has been an iBC Public Service Announcement.
Great article. He must be a “fan.”
Just in case you were wondering, I am NOT afraid of the pullback in NOV. I embrace such occurrences with great vigor.
Donnymeister, Casino Security has a videotape of you entering the Casino by a side entrance wearing a ridiculous disguise. How does the Donnymeister do it?
Best week since 1974 fuckers.
HNU.TO is pissing me right the fuck off today.
Im not going down alone, I will bring all you’s fuckers with me. Rating agencies, hedge funds, traders and those Tammany hall rug rats. I’ve got a little black book with names and payouts! I will destroy the playpen.
Did Warren buy NOV? Warren’s stock is up over 5%, odd, no?
The Year of the Fly
Yes, I remember 1974. I graduated from Univ. of Fl. and unemployment was so high I took a job cooking at the Coney Island section of the Yumbrella which was adjacent to the Univ. of Miami. I made some great dogs and shakes.
Quit ignoring me, Fly
Dick (Fuld), can you bring Barney Frank down?
Congress should go ahead and subpeona themselves while they are at it.
Yo- That wasn’t me who wrote that (re: Fuld).
Computers are scrambling names.
Seems like the only thing that definitely will not happen, is sideways for the rest of the day. Either we’re blowing up big or dropping like a rock, with no in-between.
Mr. Fundamentals: Nobody has been listening to you for weeks. Mr. Fear and Mrs. Technicals have the talky-stick.
Irrational Exeberance…we close down today
Juice
Rio or CLF?
CBS – you know that Redstone’s National Amusements is facing a debt problem and if unable to restructure soon (payment due in 60 days) he will be forced to sell all his non-voting stock in CBS and VIA as well as some of his voting stock in both as well.
Key INDU resistance here…
Parked DIG at 32.50! Fun ride!
The minute the slope dude gets bullish we are toast.
We are toast!
The bounce?
Fly…you make it happen, Captain. Hedges are for dogs.
Here I come