I am running away from this market, like a little bitch, ahead of the “historic elections.” I blew out of 90% of my National-Oilwell Varco, Inc. [[NOV]] , despite loving the valuations, due to a capital preservation move on “The Fly’s” behalf. Right now, my cash position stands at a staggering, yet pussified, 70%.
Let it be known, “The Fly” is winning on a continuous basis, in all facets of life and the internet. He has been banking coin in this devil of a bitch of a whore of a market, even since he was old enough to tell people to go fuck themselves.
I bought a little more BE Aerospace, Inc. [[BEAV]] , towards the end of the day, mainly because I have money burning a hole in my pocket. It must go somewhere, why not “The Beaver”?
As an aside, I am all for “bankrupting the coal industry.” Fuck those bastards, with their canary killing ways. I say, let’s SAVE THE ENVIRONMENT, via dumping all available coal into the Atlantic Ocean.
With all of my Godly 10,000 dollar bank notes, I intend to invest them unwisely, then wisely, if you get my drift. My next move, without a doubt, will be wrong. It’s the law of averages—so sorry. However, I am aware of such likelihoods and plan on “tricking the trickers,” who are trying to get me, if you catch my drift.
My paranoia, by the way, is deep rooted in the fact that “The Fly” was a very poor man, in his past life. During that blue collared life, I am sure I was killed, via falling air conditioner on my head, somewhere in the housing tenements, just south of the Bronx.
With that in mind, I employ the bloggers on this site for less than the ancient Roman minimum wage and have zero interest in giving them a raise. At the end of the day, all of the worlds money is mine; you’re just borrowing it from me, on a temporary basis.
Top pick: BE Aerospace, Inc. [[BEAV]]
UPDATE: Via The PPT, top 10 ranked etf’s:
1 [[DTO]] 4.4
2 [[DGZ]] 4.35
3 [[DEE]] 4.2
4 [[DRR]] 4
5 [[UUP]] 3.75
6 [[DZZ]] 3.65
7 [[BBH]] 3.65
8 [[ITE]] 3.55
9 [[RKH]] 3.4
10 [[PJB]] 3.4
that’s almost exactly word for word what I’ve told my parents about you.
FLY is doing the right thing again.
70% cash? piker
The Fly is a genius – how much longer before he works for the Fly alone?
We thank you for watching out for our little Beaver Mr. Fly. If you see Eddie Haskell please tell him to get back here and pick up his bullet casings.
During that blue collared life, I am sure I was killed, via falling air conditioner on my head, somewhere in the housing tenements, just south of the Bronx.*
Okay, this is either worded oddly, or things are getting a little too weird, ovah heah.
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* Inwood?
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What’s up with the BEAV?
Could they afford air conditioners in Bronx housing tenements?
just wondering.
Any thoughts on a spec (very small) trade with GM or F if Obama wins as Bush said no bailout but Obama owes Conyers, Levin, Stabenow, etc. and the Union.
No need to vote; just watch football (via ESPN):
“(The) Redskins host the Steelers on Monday Night Football—which also happens to be Election Day Eve. There have been five previous Presidential Elections during the Redskins existence during which the incumbent was not running for re-election. And as you may have guessed by now, the Redskins will provide us with an answer as to who our next President will be.
In years the incumbent is not on the ticket and the Redskins lose their last home game before Election Day, the White House changed parties. When the Redskins win? Well, that’s happened only once—in 1988—but the presidency was passed from Ronald Reagan to his Vice President, George Bush.
Simply put, Barack Obama supporters should be pulling for the Steelers on Monday, while John McCain fans would be smart to root for the Redskins.”
You might get a quick small pop in GM if Obama wins. I’d say a better play is to short them after the pop.
I want Austin Goolsbee for Obama’s spokesman.
Austin bitch-slapped slut Maria Bartiromo
silly, showing that dick-sucker Bartiromo
doesn’t understand that ALL WORKERS pay the
payroll tax – and those paying over $500
in this payroll tax (those earning over $8000
per year – like Pizza clerks and garbage men)
will get an Obama $500 tax cut.
Coupon clippers like Warren Buffet and
Carl Icahn won’t get this Obama Tax Cut.
Too bad Slut Maria qualifies for the $5 bills.
Maria gives me a mr. softie.
Should have held NOV.
Simply put, Barack Obama supporters should be pulling for the Steelers on Monday, while John McCain fans would be smart to root for the Redskins.”
The election be damned, that shit ain’t happenin’!
Go Steelers (since we kicked your asses last week, and all)!
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Austin bitch-slapped slut Maria Bartiromo
silly, showing that dick-sucker Bartiromo
doesn’t understand that ALL WORKERS pay the
payroll tax – and those paying over $500
in this payroll tax (those earning over $8000
per year – like Pizza clerks and garbage men)
will get an Obama $500 tax cut.
I did not see the piece, but did Maria ask whether or not the $500 was going to come off the Socialist Security “trust fund,” or whether the “tax cut” recipient was going to receive an equal reduction in benefits?
Because one of you Obamanid geniuses (maybe you can put forth Goolsbee of “he was only kidding about shafting NAFTA” fame?) is going to have to tell me how you can give refunds off of a pension input without:
1) damaging the pension fund itself (in this case “damaging further”)
or
2) Reducing the benefit of the recipient who is taking his benefit out early?
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Bonus question: Is it Goolsbee or Obama who think everyone is this stupid?
(I’m voting “Goolsbee,” because I don’t think Obama even realizes what he’s proposing here).
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Greatest Political Cartoon of the Year.
For my Obamanid friends.
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*”Mr Market Says:
Prepare for some exciting market fuckery…regardless of election results…fuckery is coming.”*
Couldn’t agree with you more, MM. I see dead people.
PS – From City Island, originally. Not going back.
Rather poorly dressed for bankers, aren’t they, Jake?
They are Democrats.
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boca Says:
Zen shoots! and he scores!
Thanks for the props.
Fly talks the talk but does he walk the walk.NOV?
The “share the risk” line should be 800 million people long, all held at gunpoint by the CONgreffs, fed and treasury.
lol @ ottnott
that was an awesome cartoon. poor people don’t make the capital investments, rich people do.
Riding High – http://www.youtube.com/watch?v=0JWmwRZDfKE
TradderCaddy –
I’m covering my GM short tomorrow before the election results.
Obama wants to give them all the $ they could ever want for a 1% interest rate. Then have them sign 300 yr long union contracts so that everyone who graduates 8th grade can make at least 6 figures and they can once again be competitive as each car will be 50% subsidized.
Welcome to anti-capitalism.
Note: I don’t give a shit about politics.
rich people make capital investments, but if they go sour they force the poor people to make good for the losses. the uber-wealthy are parasites.
The CEOs of Amerikkka are the biggest leechf@cks in the whole wide world. The crony crapitalists exploit the weak, the poor, women, children, the environment. Hanging’s too good for ’em.
Some rich people are former poor people who invested their own unique ideas, intellectual capital and sweat equity, or marketing smarts. (Just an observation.)
and that’s encouraged, but relatively few people actually sack up and do that, regardless of wealth. or what they say. but it is the best way to become wealthy — self made, in a rewarding way.
Great writing Fly … you are a super talented writer … really fabulous stuff
oth, I’m thinking of shorting several of those PPT top ten etf picks .. I think 1-6 are shorts as of some time this week
The poor people i grew up wit, who became rich, invested in themselves. They busted their asses, built businesses and persued thie dreams with vigor.
If Obama has his way, a big hurdle will be put in the way anyone tryng to better themselves. McCain is bad, but Obama will blow a strong headwind into the face of those trying to rise up from the middle class.
Thoughs?
Stop the “social security is broke” Jake
Why should a SS Recipient get reduced benefits when he gets $500 from the treasury?
SS pays for itself 40% OVER, generating $300 billion in surpluses THIS YEAR ALONE, total surpluses since the 1983 SS reform being
$2.4 TRILLION from 1984-2006, plus $700 billion in 2007-2008-2009.
If a SS recipient should get a reduction, then the DOD should get their goddam budget slashed by 80% because they don’t do Jack Shit for us.
http://wizbangblue.com/2008/02/06/brad-delong-former-clinton-treasury-official-b
ush-budget-a-clown-show.php
http://ppjg.wordpress.com/2008/10/19/social-security-surplusa-big-welfare-check-
for-federal-government/
Why didn’t anyone tell me this?
http://www.youtube.com/watch?v=P36x8rTb3jI
Surfdude, it will still be possible to pull yourself up by your bootstraps and make a successful life for yourself, if you have it within you to do that in the first place.
However, Obama and the Dems will remove most of the incentives to do so.
“However, Obama and the Dems will remove most of the incentives to do so.”
People who want to succeed do not need external incentives to do so. That’s just one of many excuses the unsuccessful will choose to use to explain their failure.
Old King Cole — yes the SS is in surplus right now.
That’s short-lived, however. The actuarial liabilities will soar long past accounting by the time Joe Six Pack $500 free check recipient retires.
Don’t even get me started on Medicare. Even worse, there.
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Anonymass,
What is your point?
jake is correct, all detractors don’t know accounting or math.
Anonymous losers explain their “losses” here by remaining anonymous.
You jackoffs rail against the rich, and then create a playing field that resembles a feudal state, so the rich remain where they are (ie, not income dependent) and the poor and middle class remain dependent on the “Lords” in government and other places of cordoned power.
“No serfs allowed.”
Fine with me.
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How does Tony Kornheiser get to call a game for a team he’s blatently rooting for?
Like he could get any more annoying?
(Guess what, it appears he can).
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PS — I’m so heartened to see Fat Chris Berman is an Obamnid. Just what I’m looking for in my half time entertainment.
(eye roll)
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Danny, I’m just glad your “savings account” will not leave you dependent on socialist security.
Because only the “taking” will be there for you.
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Jake, you don’t really think Obama will win this, do you?
haha jake, me too. It am only forced to assume it will have compounded ludicrously by then.
secretly I think no way Obama wins, polls are flawed.
However, it may just be a defense mechanism, since I swore on the Lantern I would leave town if Obama won and am not ready to move to Sweden yet. Although, I am ready to pillage to women folk and local city scape.
My point,
It doesn’t matter which dumbass wins.
On average, those who work smarter, rise to the top, e.g. “The Fly”
Questions:
1. Which incentives to entrepreneurs would be removed by obama and the dems?
2. What hurdles would be put in place to prevent people from rising up from the middle class?
I can honestly say the rate of capital gains tax has never entered into a decision to start or continue a business — other than stock trading I suppose.
Personally I would be very surprised if obama does not win.
Embrace it.
boca,
You are a businessperson/entrepreneur. That separates you from the majority of people who have an employee mentality – always asking the wrong question: Who is going to do something for me?
Please do not ask specific questions – that would require some thought and possibly an actual discussion. It’s much easier to use mindless personal attacks.
Mem’ries,
Light the corners of my mind
Misty water-colored fuckin’ memories
Of the way we were
Hickory Dickory-Dick Fuld is a fucking asshole:
http://www.youtube.com/watch?v=BKsixRnJwj4
Thanks ‘shoe fits’. May I add that if you were to be compared to shoes, you would be a Christian Loboutin pair but definitely not Crox.
Whatta story. Two black QB’s going at it in a Monday Night F’ball game that could preview the Superbowl*.
And Byron Leftwich is coming out on top, at long last.
Vindication.
____________
*I mean, if the Giants completely crap the bed in the NFC, I mean. Everyone knows the Titans are a sham.
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Jake, you don’t really think Obama will win this, do you?
Um yes, Wood. The whole country can’t be New Hampshire, can it?
The media has done their job. May they be reviled for it, for decades.
________
On average, those who work smarter, rise to the top, e.g. “The Fly”
So in other words, “the rich get richer,” yes?
Twas ever thus, but why make it harder for Joe Sixpack?
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So by “the rich get richer” you mean you did not start rich ergo; you will never be rich. As long as you believe that, you will be correct, i.e. not rich.
The Fly was not always rich. Nor Jim Rogers nor many others.
I am one step from a cardboard condo, but I know it is my responsibility & mine alone to move forward.
The rich get richer because they are the pigs who steal better.
Boca Lesson:
She asked, in honest fashion, so I shall reply thusly:
Which incentives to entrepreneurs would be removed by obama and the dems?
I am a business owner (I am). I bought my company from its original owners in a leveraged buyout. This year, I will have the opportunity to pay off that debt in after tax cash, and perhaps hire new personnel, and maybe even buy a nice piece of technology.
If my taxes are raised another 4%, my tax bill (at $250,000) goes up $10,000. That means I have $10k less to reinvest in my company in any of the above possibilities. That effect will ripple through the economy, as suppliers lose that marginal purchase, that marginal deleveraging, that marginal employee hire, etc.
In addition, my capital gains tax will be raised, further disincenting my investment in risk assets. Will I want to invest in another leveraged buyout? Not at the prices I invested last year, not with that additional discount baked in. Will folks want to sell and take that additional tax hit at these lower valuations? Also unlikely. Result — asset deflation, slow down in overall liquidity, flaccid capital movement. More investment will go to inefficient tax avoidance vehicles, and less to innovative, risk based projects, as the incentives are decreased.
I’m in the capital transaction business. I’m concerned.
2. What hurdles would be put in place to prevent people from rising up from the middle class?
Never mind all of the above capital flow consequences which will decrease overall opportunities for Joe Sixpack to advance in a dynamic economy, there are also tax consequences which will hurt his ability to accumulate capital.
Increased capital gains taxes I’ve already mentioned. Higher social security caps and increased marginal rates will also hit incremental savings. Most people who live in Northeast and West Coast America are solidly “middle class” at $150 -250,00. This is the the marginal area where consumers turn into savers. Barack wants to keep them consuming (they will) and disincent their savings and investment opportunities. A high marginal tax rate will do that, as people find that returns on savings not keeping up with the costs of living. They become increasingly dependent on the government or a large corporation for pension savings, while they try to put their kids through decent schooling, etc. In the meantime, the economy is shrinking around them.
The end result, only those who are “already there” (ie, not dependent on taxable income for lifestyle) or extraordinarily capable will be able to “break the cement ceiling” constructed by these high marginal rates. To be a salary man in this society is to be a sucker, as the opportunities for saving will shrink, and the tax man will have his due.
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The Stock Market has an Obama Victory priced in tomorrow, however if the democrats get their 60 senators, all bets are off.
Interesting Football Fan Facts:
Two minutes and 40 seconds left, and Pittsburgh has seven sacks against the Redskins at the Redksins’ stadium!
Refresher from last week, when the Giants played AT Pittsburgh’s Heinz Field?
Pittsburgh had zero sacks.
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Donny, nice letter to the editor of the WSJ this weekend from a bidness owner in Laguna Nigel regarding what the Messiah’s plans would do to his bidness.
I made believe it was from you.
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Jake-
I’m an Orange County Republican, and a “bidness” owner from Laguna Niguel, but I can assure you it wasn’t me.
I’m not voting for the President tomorrow … I’m so fucking pissed off at the GOP. They can kiss my fucking ass! With that said; I will not and cannot vote for the other side, therefore I sit on my hands tomorrow. I think there’s millions of me who will do the same.
Besides, the democrats will undoubtedly overreach their new found authority. Why? Because that’s what lefties always do. And they’ll pay the price in 2012 … bank on it.
>> The rich get richer because they are the pigs who steal better. <<
And when that fails, they fall back on the “too big to fail” thesis and have the middle class bail them out against their will via their own representatives on the basis of the Bush Doctrine …. politics of fear.
Jake-
Why not go John Galt? My plan is to cut way down on marginal business – just choose the choicest, most profitable jobs. I will also cut expenses (e.g. marginal employees or contractors) to make up some of the difference.
Why not take a little more leisure time instead of working so damn hard when Obama removes the incentives to do it? I’d rather employ my talents to pursue say a martial art or something.
Thunder,
You make some sense, but I have some loyalty to my employees. Of course, one of them is an Obama supporter, so I guess she could be a rational casualty.
However, I don’t look to punish the ignorant.
No, we’ll fight through it, but we shall not be silent.
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You’re paying $250,000 in taxes under Bush and you’d defer investment in yourself or your newly acquired business cause under Obama your taxes will go up $10k?
Sounds like sour apples to me or you are making excuses for your ultimate demise at the hands of the republican deflation and poor timing by you for a leveraged buyout … are you sure you are not “Joe the Plumber”?
And when that fails, they fall back on the “too big to fail” thesis and have the middle class bail them out against their will via their own representatives on the basis of the Bush Doctrine …. politics of fear.
That’s right, that’s “all the rich” who are getting bailed out in this bank bullshittery.
“All the rich” save the 99.9% who pay MOST of the taxes and who are not involved in the securities industry, that is.
WTF are you whining about them taking MY taxes for, anyway?
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PS — if Bush’s strong on defense policies that have kept this county attack free for seven plus years and subdued a violent Iraq are “the politics of fear,” what are the Dem policies of “let my terrorist go?”
The politics of stupidity?*
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*(Rhetorical, no need to exacerbate.)
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You’re paying $250,000 in taxes under Bush and you’d defer investment in yourself or your newly acquired business cause under Obama your taxes will go up $10k?
Nice reading comprehension attempt. Public school equivalency? The $250K was hypothetical btw, because that was the alleged “limit” — I hear Biden just dropped it to $120K. Imagine that?
Here’s an accounting tip. When income is reduced by taxation, it is not available for “investment in yourself” or in any other form.
It’s gone to Washington.
Clue in.
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Yeah, a return to the tax policies we had under Reagan or even Clinton will freeze investment in business and capital formation going forward … not buying into that argument … if you won’t, someone else will.
Obamanist obviously doesn’t understand the difference in an economic system between raising taxes and cutting them.
Especially in the midst of a recession.
Obamanist is advised to study up on the Great Depression, the last time a President raised taxes and shut down trade after an economic crisis.
“Brilliance.”
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Jake –
Yours must be full-timers. Mine are part-time or contract and now they get work if/when I get it, so it’s easier to cut back, I suppose.
Part of my decision is an urge to fight back, and “starve the beast,” and part is to wind down the “stepping up” I did in response to 9/11. A big part is simply to enjoy more personal time in a sort of sabbatical until the skies turn blue (red) again. Moving vacation/leisure forward isn’t such a bad idea in my mind.
I understand your situation and admire your loyalty, though.
One could argue that cutting taxes for the middle class is much more of a stimulus than cutting the taxes yet again for the top 5% of the taxpaying public, odd no?
At some point, even the Laffer curve becomes a laugher when it comes to cutting capital gains taxes and expecting to see tax revenues increase …. there is a point of diminishing return while gov expenses continue to climb no matter what.
How long can you expect to pass the bill to the middle class … oh yeah, you have been via budget deficits since all the tax cuts have proven a shortfall on revenues to go along with the excessive spending but no worry, the top 5% will be ok. They may not have any consumers for 10 years to buy their goods and services but what the hell … no recession/depression for the rich … yet.
Fuck politics. Let this be settled through song & dance:
http://www.imeem.com/presidentialplaylists
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Nice game by the ‘Stillers’ tonight. Leftwich seemed to make good use of his time in the limelight. Just need to deliver that ball faster, Byron.