The quarter ended with all sorts of weird fuckery. My gut tells me, it is a warning shot of volatility to come.
At any rate, I held my powder today, not giving into early day optimism. Instead, I’ve been busy raising new money and selling off bullshit underperformers, like Spartech Corporation [[SEH]] .
All in all, the quarter was fantastic. Luckily, I was blessed with the internal fortitude and stubbornness to capitalize on the rally. In all honesty, I do not chide anyone who lost money, over the past 3 months. The logical trade was to bet on Armageddon—it just didn’t happen. That’s why, and this is a fact, scholars make shitty investment managers (think LTCM).
My investment success has more to do with experience, coupled with balls, than anything else. I can burn the midnight oil all I want, analyzing the balance sheets of ABC to XYZ. But if I didn’t have the gumption to risk my capital and go against the crowd, I’d be eating fish sticks for dinner and not 2 1/2 inch rib eyes.
For those of you who nailed the rally: congrats. We are coming down the home stretch now and the market will not be as easy, due to the fact that earnings matter. While it’s true, year over year comparisons will help Wall Street’s dumbest firms; it’s also true, if employment does not pick up ASAP, CIO’s may put investment projects on the back burner, effectively raping all new longs—at current levels.
Nonetheless, “The Fly” has faith in the friendly philanderers at Goldman. When sitting down for dinner this evening, during grace, just prior to digging into that heavily salted (lightly peppered) rib eye, be sure to mention the Godly citizens at Goldman in your prayers—for they did the work of God (or space alien magicians), saving this ridiculous nation from assured peril, by way of clever robotic stock buying machines.
Indeud.
Amen.
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fig
FIG
Indeed one could assert the only people buying now are the “late longs” eating up the last 25% of a move while the smart money is busy eating their steaks of choice waiting for attractive levels. hmmmmm
Great post. This “piker” learns more everyday as you generously share your insights and wisdom.
There’s GS and then there’s the guys with lesser than space alien magician robots … the ones Lost in Space if you Will ….
“Danger Will Robinson, Danger!”
LTCM was the shit back in the days…. they just didnt think of the black swan
Jan to Feb was a fun filled rollercoaster to hell with bears laughing all the way. Only iron balls and/or stupidity kept me selling the lucrative put premiums into the Feb/Mar flush(Oh how I miss those premiums)
March to July was a guarenteed bear rally if you read any of the thousands of expert moron’s 10 page essays filled with hindsight facts and figures on how things suck cock(and will continue to suck more).
Aug to Sept was all about market chasers and squeezed bears pushing this market higher. All the while the remaining bears growled louder as valuations stretched.
Now we may get the Oct ass raping effect scare and who knows what entertainment afterwards.
I’d call the last 7 months hard fought gains and I will enjoy my steak thank you very much.
Tight post, well done Horatio Hammer Claw.
Best I can see, on a valuation stocks are priced to perfection….
We rally through October. Sounds gay…….but true.
FIG !!!!!!!!!
INO down 15% in after hours. Anyone have a clue what’s up? Well…down? Doc should have something on this. Luckily I have only a samll position but ,damn.
Nevermind. Some schmoe traded 100 shares @ 1.33 at the bell.
SQM Announces New Lithium Prices
(SQM) (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) announced today:
Consistent with its business strategy of world leadership based on low costs and abundant high-quality natural resources, SQM has decided to implement a significant reduction of its lithium price levels with the purpose of accelerating demand recovery, creating incentives for research of new lithium uses, and contributing to the sustainable long-term development of the lithium market. Consequently, SQM announced that prices for lithium carbonate and lithium hydroxide will be reduced by approximately 20% from current levels for the renewal of all its supply contracts.
congrats on the quarterly
Clearly, this guy has some work to do when it comes to discretion on camera.
http://www.youtube.com/watch?v=pD-jHkyD1qE
I haven’t laughed so hard in years! Hilarious.
lol. He’s a whiner. He should try riding a harley 99% of the time in the countryside south of miami. Nothing like mating dragonflies spattering your teeth with some going up your nose.
thank you jd — i wept real tears watching that. i feel for the guy, but i’m so glad someone recorded it. fkn hilarious….
YW. It’s an example of “fight or flight” instincts. He was completely out of breath at the instant the insect flew in his mouth. He was close to inhaling it. LOL
Yes, some of us ended the quarter with a bang — a “head bang” even.
(Who knew Pat Boone could be so cool, eh?)
____________
you had to mention fish sticks didn’t you……………poor ol’ Gordon, never getting any appreciation.
MEDW
Mediware Information Systems Inc
http://finviz.com/quote.ashx?t=MEDW&ty=l&ta=0&p=m&b=1
This companys valuation looks good what do you think?
Amen, Fly.
Indeud we trust.
Anybody know about the offering …ABAT? its down AH.
disregard- saw about it over a cajin’s
Fly – Great post. Thank you.
If ur not a PPT member, you’re missing some Fly genius.
Gratz Fly. Well done and well-deserved.
wierd fuckery is right on the money!
ballard power and bombardier 2 excellent examples of that just in the last 2 weeks.
keep it comin, insect.
GO…TI…GERS!
way to give respects to the Big Man. thats straight.
Wow, what’s with the non-abusive tone in that post, Fly? Do you need to seek medical attention?
Fly, what do you think of Cramer’s sell announcement today on DRYS? Is he full of himself again or…
Everyone likes to dump on DRYS
Unfortunately for them hindsight fundamentals are meaningless and stocks in the same sector move together. DRYS will move as commodities move.
Besides it offers some of the juciest premiums out there and I’m more than happy to ride it.
Jim Cramer is a fucking moron, asshat of the century….
based on the equation “FIG” –> shouldn’t the title be “Thank Me: Best Quarter in 11 Years”?????
congrats!
I’m back from the future.
Saw a frantic disheveled man hawking battery stocks.
“I don’t discriminate between different ways of knowing.”
Knight Watchman:
I haven’t looked, promise. Is Timmy saying he’s up for the year after the 29 point drop?
Great discussion from the Australian free market think tank , CIS, about bubbles.
Not clear whether there is such a thing as a bubble and far more complicated than popularly believed.
The “great” Tulip mania was essentially a myth after serious historical investigation.
Two very good economists discuss all these. I know one of the guys and he really is very good.
http://vimeo.com/6605021
Conclusion not sure if they’re right, but good food for thought.
October 1, 2009 7:04 AM EDT
Advanced Battery Technologies, Inc. (Nasdaq: ABAT) agreed to sell common stock and warrants to institutional investors in a registered direct offering. The closing of the offering is expected to take place on or about October 5, 2009, subject to the satisfaction of customary closing conditions.
The investors have agreed to purchase 4,592,145 shares of common stock and 1,377,644 common stock purchase warrants. The warrants are exercisable at any time after the closing date, at an exercise price of $4.70 per share, and will expire in five years. The aggregate gross proceeds in the offering will be approximately $19,000,000.
Mutha fucka, what???
Gross proceeds = $19M
Warrants = $4.70 X 1,377,644 = $6,474,926.80
$19M – Warrants = $12,525,073.20
$12,525,073.20 / 4,592,145 shares = $2.73 / share???
Son of a fucking bitch.
Bunch of F’n ‘dilute-sionists’ Today or over 5 years.. Whatevah. I’m out.
Pretty decent consumer spending number.
Lord Fly,
is your 3% drop (pull back) thesis based on 9800 or 9700? which would put the DOW at 9500 and 9400 respectively.
WTF happened to ENTR?
you gotta love the digi camo and the wide white walls on the new chinese missle launcers.
http://news.yahoo.com/nphotos/China-marks-60-years-Communist-rule/ss/events/wl/093009chinacommunist#photoViewer=/091001/481/3ae5dfbb8a9349b4a0e7a9df1b0d652b
“launchers” I mean….