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
23,446 Blog Posts

Q1 Ends With Nonsense

So goes the phrase of my dearly beloved late Grandfather: “you’re all schmucks, the whole lot of you.”

Bewildered you are, sitting there in the “unluxury” of your plastic chair, shocked by the late day chicanery. Give up the business of managing other people’s money and leave that burden on the shoulders of great investors, such as Senor Tropicana.

Frankly, as opposed to being “unfrank,” your hedge fund deserves 100% redemptions. God willing, blessed by the stone of Jupiter, all of your clients will leave you and spend the proceeds at the track.

At the end of the first quarter of 2009, “The Fly” is ahead to the tune of 25%, with a 90% cash position. He has small cocked positions in FAZ and SRS, with a little TLT flavour [sic]. Going into tomorrow, I might buy more SRS or I might buy UYM. Tune in to find out, liver lips.

In closing, you are a bad investor because you guess. I am better because I know.

Good Day.

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53 comments

  1. jg

    fig

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  2. GARR

    Reversal in QID today was SUGE NASTY. Don’t shark bite it son.

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  3. Joe

    Fly,

    Which currency would you feel safe parking a bunch of cash in as a safe alternative to US$.

    TIA

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  4. Aris

    Reversal in QID today was SUGE NASTY. Don’t shark bite it son.

    f’realz, son

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  5. The Fly

    Joe:
    yuan.

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  6. so i herd you liek mudkips
    so i herd you liek mudkips

    i like how we cleaned out the friday-monday gap like a fucking dentist today. when we got near friday’s VWAP, the market was all, “OK WE’RE DONE HERE”.

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  7. The Fly

    How is BCS not at zero?

    Weren’t they one day away from insolvency, then POOF, all better? How did that happen?

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  8. Cash-N-Guns

    GE looks like the fat skank at the end of the bar…not enough scotch to make this pig look good.

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  9. alf44

    Fly…why UYM ?

    ————-

    If I may be so bold as to ask.

    tia

    .

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  10. JakeGint

    An Italian man, using the Yiddish? Very ahead of his time, he was…

    ___________

    In other news, There’s this excellent piece on returning to the gold standard.

    Added bonus: The Daily Telegraph found a real live leprechaun to head the piece!

    Who knows that space better, I ask you?

    Too-rah-loo-rah Loo-raaaahhh!

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  11. Henry Fool

    Someone explain the Devils Instrument SRS to me.

    How did it manage to close near the days lows while the market closed in the middle of the range? Is this just “late day chicanery”

    Aye caramba!

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  12. Needle bug the bug fucker
    Needle bug the bug fucker

    BCS passed the stress test. Not that I give any credibilty to it.

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  13. toptick114

    CNG,,,,,,,LOL

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  14. The Fly

    Yes. He’d put on a yamika for his Jewish clients too.

    Very true story.

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  15. Oliver P. Shagnasty
    Oliver P. Shagnasty

    The Zombie prefers his women inflated to about 35 PSI.

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  16. JakeGint

    Bewildered you are, sitting there in the “unluxury” of your plastic chair, shocked by the late day chicanery.

    Converse like Yoda now, we should?

    A while now, it has been.

    Rusty, I am.

    Reclaim the hang of it, I will!

    ____________

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  17. JakeGint

    Yes. He’d put on a yamika for his Jewish clients too.

    GTFO!

    A 45cc mini-bike, draped across the shouldahs?

    ________

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  18. alf44

    ah hem…UYM…why ? tia

    .

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  19. The Fly

    He’d keep it in his draw. Real old school shit.

    Considering he was in the furniture business, it was entirely pointless, yet he found the need to do it.

    A real comedian.

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  20. JakeGint

    Aside: How can you tell a Noo Yawkah even after he’s lost his accent?

    (IOW — People like me, who’ve been away so long our accent has become like that of a weatherperson on Iowa Teevee)

    Two tells:

    We say:

    “On line” instead of “in line.” (this was only recently pointed out to me by a resident of Flyover, out heah. Never realized it before. )

    AND

    We say “draw” when we mean “drawer” (as in “chest of drawers” — we’d say it “chest of draws.”)

    I have found that I still say these things, even in my bland Iowa Weathermanese.

    You can also get us drunk, then it comes out, full gale.

    _________________

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  21. alf44

    …testing 1 2 3…mic test 1 2 3 !!!

    Is this thing on ?

    .

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  22. i'm a schmuck

    well, don’t know about the rest of you but i know i am.

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  23. Ass Napkin Mike

    FLY

    Have you ever clogged the toliet at a “Top Tier” hotel and had to call down to the front desk to request a plunger?

    Was it tough not to laugh when doing so?

    When the facility engineer brought it up, did you let him in or just stick your hand outside the door and tell him you would take care of it?

    The more upscale hotels will plunge for their clients–as long as your ok with someone in your bathroom trying to work down the crap you just took.

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  24. Anton Cigur

    I guess you’re right, “The Fly.”

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  25. gappingandyapping
    gappingandyapping

    Oh our friend MNCS changes tickers more than Cramer.

    http://finance.yahoo.com/q?s=MNCSQ.PK

    I bet they are still selling cars down in Texas at this outfit.

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  26. skvm bvkkit

    Investor? You flatter yourself.

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  27. Needle bug the bug fucker
    Needle bug the bug fucker

    Lenny Dykstra, hahaha I know its sad but I just had to laugh my ass off. What a clown! The guy hates to read!

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  28. JakeGint

    Fly, I got three words for you…

    (“Heineken??!!….)

    P abst!

    B lue!

    R ibbon!

    _________

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  29. Aris

    ***heads up***

    cramer says to buy a bank in ohio. FMER.

    in…ohio…

    ohio

    i’m actually speechless.

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  30. dave

    GM is going to make payments on new car sales if you lose your job for up to a year. Can you say adverse selection?

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  31. Aris

    WHO…doesn’t….want…..to wear the ribbon?!!

    http://www.youtube.com/watch?v=lRtUv97YFco

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  32. TheArtist

    are my eyes playing tricks on me or are the DOW futures already down negative 76? this I’m seeing on Bloomberg’s ticker….

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  33. Needle bug the bug fucker
    Needle bug the bug fucker

    Down 78 now.

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  34. Needle bug the bug fucker
    Needle bug the bug fucker

    http://www.ft.com/cms/s/0/275f67ba-1e31-11de-830b-00144feabdc0.html?nclick_check=1

    Tarp watch dog.

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  35. Sierra Water

    The “Road to Hell” explained.

    http://www.youtube.com/watch?v=n-arbfLTCtI

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  36. Heaterman

    OK explain something to me.

    GM takes about 20 or billion in bailout funds and the government basically takes control of the company, outs the CEO and claims it will back warranties.

    AIG, GS and the rest of the banks take HUNDREDS of billions from the federales and their people stay at the helm.

    Why the difference in treatment? Is the Messiah trying to completely destroy manufacturing in the US or what!!??

    When does the revolution start? What’s the tipping point when a few million Joe the Plumber types go Medieval on Washingto DC??

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  37. what is the bigger issue
    what is the bigger issue

    confiker virus, or legalizing weed… both seem to be a hot topic right now.

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  38. Aris

    ugh. more late night futures fuckery. never ends.

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  39. Q4

    The Depression will not be televised.

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  40. In closing, you are a bad investor because you guess. I am better because I know.

    Good Day

    well blue bottle you have the PPT you know

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  41. Needle bug the bug fucker
    Needle bug the bug fucker

    Heaterman,

    The banks control the purse strings. Hell, the Fed chairman is the worlds most powerfull man.

    Notice how congress has yet to reenact any part of Glass Stiegal act, or renew the up tick rule. On the contrary, our government has helped pay for consolidation in the industry. IE Bear Stearns, they allowed Lehman to fail.

    The important thing to remember “screw what is right wrong or emoral” the object to this game is making money. Its an unfortunate postion to take but this game demands it.

    http://www.ft.com/cms/s/0/275f67ba-1e31-11de-830b-00144feabdc0.html?nclick_check=1

    unpaid taxes, the next scandle

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  42. Mr. EB

    Feds only spent $12.8 trillion so far on this crisis. They need to spend more!!!!

    http://bit.ly/8zS64

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  43. New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.

    Damn thats alot of pledging

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  44. Trader Bob

    We don’t want assets worth 5 cents on the dollar. Just send me a check for $42,000 and I’ll spend it at my liesure. This is straight fuckery

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  45. I want my $42k now!……and I want a oil change from the White House for my GM car. Mayor Bloomberg is pleased to hear that “The Fly” is 25% ahead so far this year – he may expand the NYC budget. Obama took 500 people to Europe – what is the bill on that party?

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  46. hammy

    I think that this “mark to market” rally is merely giving institutional stock owners a little more time to sell their stuff before earnings season begins.

    Anyone else see that as a possibility?

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  47. j

    Yes. He’d put on a yamika for his Jewish clients too.

    Very true story.

    That’s really funny. I have a buddy who manages money down here and his firm carries a Jewish sounding name. He’s found most of his clients are Jewish now too. He set up another fund with another Jewish name thinking it doesn’t hurt and could help.

    He’s Catholic.

    good trader too.

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  48. GenerationOilBottom
    GenerationOilBottom

    Heaterman, the same bunch that controls the banks controls the media, the Congress, the investment community and most of the Defense department.

    They could give a shit for the common man.

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  49. mama

    I’m switching to Vegas. At least they give free drinks.

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  50. Sneaky Obama appears to be thinking bankruptcy on the autos – that must be why the futures are red. No sneaky tricks on the banks will be allowed – 2009 is showdown time!

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  51. Prince Valium

    New here, what a buch of degenerate fucking assholes. I love it.

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  52. Max

    GM spent huge bailout $ on severance to UAW and employees. Nobody pissed. Fuck this place

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  53. Heaterman

    GenerationOilBottom Says:

    Heaterman, the same bunch that controls the banks controls the media, the Congress, the investment community and most of the Defense department.

    They could give a shit for the common man.

    OK……..so just who the flip is this Seig Heil “bunch” you are talking about?? Bilderburg types or what? When does the common man get to wreak bloody mayhem on their deserving bodies?

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