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
23,439 Blog Posts

Losses Are Good For the Soul

As much as I try to avoid losses, they plague me.  I run away from them and throw m-80’s at them, from the back seat of my 1980’s style stretch limo; but, eventually, they find me. Like anyone else in this business, I am prone to error. Like the old tales of men trying to invent magical elixirs that will let them live forever, I have not been able to eliminate losses from my repertoire of  bad habits. I say “habits”, because I am responsible for my actions. No matter what extraneous events take place, the buck stops with me. It is my goal, as a dignified outstanding member of the investment community, to avoid losses at all costs. But I am afraid, much to my chagrin, my dreams of perfection are nothing more than a grandiose exercise in futility.

Do not misconstrue: “The Fly” is doing very well this morning, as the stock market firms up. My positions are zipping higher and my personal account gains are so great, so extraordinary, I cannot share them with you for fear of bringing on outsized animosity and hatred upon my person. For the sake of my family and fellow bloggers on iBC, I cannot do that. Hopefully, the majority of you can sympathize and understand my plight. For that, I am eternally grateful.

However, what I can share, most gleefully and boastfully, are my client YTD gains of more than 43% aka 20x your average hedge fund manager.

Kids, Le Fly is not playing games here and you certainly are out of your league, well above your pay grade, when attempting to compare yourself to me. To me, buying and selling stocks is as easy as riding a child’s tricycle.

One final note: as this website matures and establishes itself as a viable business, it’s important to keep working in the iBC laboratories for new/innovative financial products/tools. As you know, iBC has the PDS and PPT systems under its grande umbrella, both algorithm based systems that are meant for institutions, but retailed out to the proletariat. I am pleased to announce, after many months of hard work and deliberation, on the part of the iBC crew: 12631.

Do not ask what 12631 means, for it is none of your concern. Just know, it has my stamp of approval and will serve as an addendum to The PPT. In other words, IT WILL NOT be available for proletariat usage. It will be available for PPT members only.

Good day to you.

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37 comments

  1. ALEX

    FLY SORRY YOU SOLD X AND CLF

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  2. TheV.King

    THE V.KING WILL ONLY BE WRITING IN CAPS TODAY TOO!

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  3. noodle

    FUCK YES

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  4. Doc

    These ladies on CNBC are much HOTTER THAN THE USUAL CROWD!

    Armies deployed, now we eat sandwiches.

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  5. TX Slave Trader

    LMFAO @ “both algorithm based systems that are meant for institutions, but retailed out to the proletariat”

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  6. The Sandman

    12631 as sung by Tommy Tutone.

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  7. Kreizi

    Losses are “Memento mori” of trading.

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  8. heebscag

    last time i tried to ride a 3 yr olds tricycle i turned into a pretzel

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  9. Diver Dan

    Now I lay me down to sleep; I pray the Fly my soul to keep.

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  10. TraderCaddy

    I know.
    I know.
    12631 refers to the executive order concerning the working group on Financial Markets, otherwise known as the PPT (Plunge Protection Team) which also happens to be Fly’s very own PPT.
    There you go.

    http://www.reagan.utexas.edu/archives/speeches/1988/031888d.htm

    By the way, this came about as a result of the 10/19/87 crash.
    I was there.

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  11. EV

    Executive Order 12631 — Working Group on Financial Markets, issued on March 18 1988. Originally the group was struck to address the October 1987 financial crisis, many believed it is still in force as … the Plung Protection Team.

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    • TraderCaddy

      Great minds think alike (although I was one minute quicker than you).
      I will share the prize with you when it arrives

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      • EV

        It’s OK, the prize is yours. If I can figure it out then it must be a pretty easy puzzle.

        Having just vaguely insulted M. Fly, I will now dutifully go find a bottle brush to fuck myself with, as befits a person of my lower classe [sic].

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  12. The Fly

    up we go

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  13. omen

    The market has a soft spot for you, Le Fly! Just yesterday you were wondering what you were going to do about your VXX position, so the market kindly provided you an opportunity to cash it at a profit, this morning, before embarking on the PPT-OS inspired climb back up… 🙂

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    • The Fly

      i still hold VXX, and more.

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      • omen

        Ohh, I know, I saw that earlier post/note, BUT the market did give you the chance to profit, if you wanted to take it !

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        • Harry Taco

          There will be many more opportunities to profit on VXX. This is non-sensical run and we should close down by around a hundo today. Still heading to at least 9750 and then the moment of truth will happen.

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  14. turdinthepunchbowl
    turdinthepunchbowl

    i wish i knew fly in real life. not the imaginary life where i trade stocks.

    good job getting rid of the author tabs in peanut gallery. much classier.

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    • TraderCaddy

      You already know him and don’t know it.
      Think Naked Cowboy in Times Square.

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    • Trading_Nymph

      Actually know it’s really hard to find Po Pimps King of the Peanut Gallery links…they were on the top of the list.

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  15. Diver Dan

    EV & Trader, Sorry guys, it turns out that Hmmmm was ahead of you on the previous post before 3am this morning.

    “The_Real_Hmmm says:
    July 20, 2010 at 2:52 am

    Executive Order 12631 was already established as the PPT in 1988 after the market crash event of 1987.

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    • TraderCaddy

      Oh well.
      I was sleeping then and he was probably at the firing range.

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      • alphadawgg

        TC,

        I was asleep as well, but my butler notified me about this first thing this morning, as I was eating my eggs benedict sandwich.

        Off to the firing range…..

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  16. Dayman

    Tim Knight has the greatest soul in the world.

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  17. xxxHuggieBearxxx
    xxxHuggieBearxxx

    This market is a carton of hogballs

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  18. The_Real_Hmmm

    I bet that Danny is going to be the newest addition to The PPT with the Breadthalizer thing he touts.

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  19. The Zombie

    12631
    The Fly is God.

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  20. Lucifer

    12631
    666

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  21. jg

    i vote for a 12631 tee-shirt

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  22. noodle

    i told you bitches
    and dont forget
    you are bitches

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  23. Vegas Martin

    NVDA is being amazing! Thanks Fly!

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  24. StocksRider

    Le Fly, selecting another “PPT” sobriquet as a name was brilliant!

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