Even though it looks like I am doing a lot, I am really doing very little. I am not taking on a lot of risk. As a matter of fact, my entire market thesis is revolved around low risk. The one constant, through all of this turmoil, has been my oversized, big cocked, cash position. I’ve been punching people in the face, via timely long and short positions, but it’s all a big fucking circus act. If I was really looking to make serious coin, I’d be up like 200% by now, like my personal trading accounts.
Don’t get me wrong, I am not minimizing my 28% return. As a matter of fact, I am quite proud of it, like a Father claps for his son who just finished 4th place. See pal, I am not impressed with 28%, because I want more. It does not fulfill my craving to outstrip you, to only do so by 30%. As far as I am concerned, I am getting better, on a daily basis. I’ve always been good; but now I am getting better. Being up more than 180% over the last three years has really helped me grow and realize that I can do better.
But, there are certain limitations that I must adhere to, because it is my fiduciary responsibility. Believe you me, I am far more aggressive in my personal accounts.
At any rate, what you should be concerned with is how I am able to outperform, consistently, on an annual basis. Unfortunately, for you, there are no short cuts and I cannot teach people with monkey brains. This shit is a gift and cannot be learned. You either have it or you don’t, not so much different than a pitcher throwing 100mph fastballs. But, what I can do is help you see the bigger picture and instill some discipline to some of your trading habits. No, I am not talking about stop loss orders and pussy shit like that. I am talking about sticking to a strategy and learning how to walk before you run.
More on that later.
The market wants to bounce here, but the FXY is in its way. Should FXY drop here, we are off to the races, a good 200-300 points of upside in the short term. Longer term, we are still fucked, which is why I have a cash position of about 55%. Once again, my only short is MET, mainly because insurance companies are the dumping grounds for the financials.
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BP will be bankrupt by Xmas
i’d take the other side of that wager…
I’m not long BP, although I’ve thought about it a great deal, but the probably inevitable divi cut seems …??… like it may mark lower prices. As always, I never pretend to have a good idea about short or intermediate term market moves.
all that noted, if for no reason other than BPs ability to drag things out in court, even if they went BK, it wouldn’t be by christmas.
This is an angry market.
Now run this bitch up
Aye, me heartys, tis an angry market she be.
Only pirates and magicians be allowed to fight.
The rest of ye swabs, get busy and clean the bilges and swab the decks!
Ah! I see euro/yen moving! Swapped my TWM for UWM.
(Comment deleted) Just realized it’s this site I’m at.
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Well said Dr. Fly. I tried to run faster than normal while carrying scissors, and stabbed myself in the thigh. It’s only a small flesh wound. I took a deep breath, and dropped back to a moderate jog. I only picked up the scissors after amassing a good sized pile of cash via the Space Alien Magician device called “The PPT” while under your tutelage. I am still outperforming the S&P 500 by more than 24 percentage points even after stabbing myself in the thigh, which I suppose puts me ahead of most of the asshats in the investing community. Thank you for your guidance sir.
must be a member of the Tennessee Squire Association
“Longer term, we are still fucked, which is why I have a cash position of about 55%.”
You got that right.
Just wait until we get closer to 2011-2012 when a large chunk of US Tsy debt comes due and rates rise. We’re following in the footsteps of the Greeks (and “The 300”).
“Austerity? We don’t need no stinkin’ austerity!”
Randolph! Get back in there and turn those machines* back ONNN!!
You know what kind of machines I’m tawkin’ aboud dontcha?
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I was thinking about the same exact scene a few minutes ago.
Wonder if this market action will teach the administration not to fuck with GS again?
It takes almost more than two incomes to make a household work. In 1950, it only took one. Our cars today are tinfoil. In 1950, they protected you with heavy metal. Today, we have no time to do anything because our lives are so busy. In 1950, people joined the Rotary and became Cub Scout Troop Leaders.
Haven’t we been dealing with austerity for some time now? Isn’t America only really great in the movies we watch?
My wife stays home with the kids. We manage.
Krull http://www.youtube.com/watch?v=wFE88ySdXvc&feature=player_embedded#!
Chessnwine….that guy is so funny…
Talking about the BP oil slick and throwing in a Bubba Gump reference was pure genius.
We are currently overstocked with shit that we broke.
We have an immediate need for high profile individuals and companies to take the blame. Being partly to blame for this mess is a big plus, but is not required. Applications from innocent victims are encouraged.
Compensation: rich
Please reply to [email protected]
These are witch-hunt times.
GS can thank BP for this timely diversion.
Is this a new gov’t bureaucracy designed to limn for Barry who’s “ass to kick?”
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28%, wow, nice return. What do I do with my 45% return? I guess I am not worthy. Oh, that is just my kids account to. Also, my trading costs probably dwarf yours considering I made, what, 4 or 5 transactions this year? Citi Jan 11 4 calls when the stock was @ 3 sold when the stock hit 4.25. Bought VIX calls when the VIX was at 17, sold when it hit 38, 5 fold increase, switched to Sept S&P Puts, up another 20%. Other than that sitting on MO for a nice fat, safe, 6% yield. My account, up slightly more as I am more aggressive. My Kid will go to Harvard, yours will go to Princeton, nice.
Fly,Saw the fucked up basher on the last blog…they attack at whatever they think is your weakest part…..and always seem to be around to kick you……when you are good or different it seems to always be the case as I know with my own little fan club that have been following me around since I bashed AAPL in 07….just once again I wanted to thank you for the weekend and Everyone that was there to have my back….
I guess the only thing to hope for here is big fucking topping tail on the Yen.
Don’t get your hopes up. Yen weakness most likely will turn out to be temporary.
The asshats in charge in Europe want a weaker Euro, thinking it will help exports. Long term, they’re probably right, but that’s many months, maybe even years away. In the meantime, can the EU survive?
And where does China fit in all this?
If you have those questions figured out, you can bank a lot of gold bricks. I’m not that smart.
Le Fly?
Actung, all you disciples banded together on the Flypaper. Don’t get too giddy with your successes following the enlightened one. Stray not from the disciplined path, keep your emotions in check lest you become thoroughly Galarragaed.
Kuddos for the “flypaper” reference (brought a wry smile to my face), now fuck off. Adding to my TYH here.
Thx for your post Taq – you just made me a bundle. Come around more often eh?
Euro zone shitting themselves….somebody is eating LEH fortune cookie.
Blue Blazers being sold by the gross.
Valuations all squishy.
A-Dog..good to see you back.
Top out Yen – you fucking whore.
INDEUD!
Our Daily morning rally is attempting….let’s see how gutsy the bulls are….
Wasn’t bulls but the darn Swiss….I hate when they headfake.
Bman: I agree mostly with what you say; however I believe our stanfard of living is much higher today than ut was back in the 50’s. We have more creature comforts, alot more. Ipad, smartphones, flat panel TV’s, bigger homes, more comfortable cars, more food choices, nicer appliances. I could go on and on. Are we happier? That’s the question.
Bman: I agree mostly with what you say; however I believe our stanfard of living is much higher today than ut was back in the 50’s. We have more creature comforts, alot more. Ipad, smartphones, flat panel TV’s, bigger homes, more comfortable cars, more food choices, nicer appliances. I could go on and on. Are we happier? That’s the question.
Bman: I agree mostly with what you say; however I believe our stanfard of living is much higher today than ut was back in the 50’s. We have more creature comforts, alot more. Ipad, smartphones, flat panel TV’s, bigger homes, more comfortable cars, more food choices, nicer appliances. I could go on and on. Are we happier? That’s the question.
I thought of 2 things we have LESS of. Attention span and patience.
Huh? Shut up!
Fly—— when will Romania default…a goat in every pot…!