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
21,077 Blog Posts

Coming Down the Stretch

I’ve been able to take advantage of under performing hedge/mutual funds, who need to chase stocks into year end. I expressly outlined this strategy over a month ago, especially since most fund managers missed out on the recent run. Coming down the stretch, I intend to unwind many of my positions, booking profits along the way. If the market is set to sell off, it will come in earnest during the first week of January. Do you notice how giddy everyone is, banking coin like it was the dot com era, part II (anyone who says “deux” is a fucking putz)? Well, the better it feels now means the worse it will feel later. For the most part, speculation is not for the faint of heart. During the dot com era, I recall many brokers losing millions, long during brief periods of correction.

Looking past the next correction, it’s important to understand where we are in the cycle. Emphatically, I believe we will see record mergers and acquisitions in 2011. If you want to get in the game and do not know where to start, follow corporate raiders like Carl Icahn or LBO firms Blackstone or Fortress—names like MOTR, HAIN, TTWO or LORL.

At the present, my cash position is just 10%. For my personal aggressive account, I am fully leveraged, with distinction and style. My target cash level is 50-60% by early 2011.

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32 comments

  1. Curly

    Good evening Señor Tropicana.

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  2. Just curious

    What are your thoughts on EXK?

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  3. JustCommonSense

    How about fing.

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  4. Yogi & Boo Boo

    iBankCoin Word of the Year: Winship.

    Glad I got a chance to post before the haters showed up.

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  5. Bullish

    Great job Fly. Glad I started hanging around here this year. The PPT is a wonderful tool – best I’ve ever seen. Looking forward to 2011. Giddy as hell! Isn’t the holiday just a wonderful time? Markets are at Lehman levels, and everyone is happy.

    I do agree that this can’t be good for early 2011. But this is a bullmarket, so I don’t see why the indices couldnt put up double digits again next year with all the liquidy sloshing around. Curious to see your 2011 predictions – is that posted publicly before the year starts?

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  6. plunja_boi

    I recall a true story. A certain neurosurgeon and alumnus of my undergrad out in Bay Area was putting back so much dough back in 99/2000 that he donated 5 mil or so to the school. You know the story, the remaining 50+ mil that he was worth on PAPER, very soon was not worth anywhere close to that, and the guy really ended up needing the 5 b/c the rest of his dot.com paper was not even worth that. There are some fools out there, and don’t ever forget it.

    One more story. A close family friend who was a teacher, did the same with his money, (less many, many zeros). Right before the meltdown in 2000, my dad convinced him to take it out and he bought 150 or so acres of land out in the country, where they hit gas soon after bringing him mailbox money 2 or 3 times what his monthly check from teaching was. BTW, land is in heart of Haynesville Play, and his minerals have current value of 5K to 7K per acre.

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    • maxlev

      Sometimes it’s better to be lucky than smart; but smart usually sticks around. Luck, not so much.

      Fly’s post (above) is a good example of why he is uniquely positioned to first recognize the opportunity and then take advantage of it (using the PPT to do the heavy lifting). Everything’s easy, once you know how and have thoroughly prepared.

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      • JakeGint

        Too funny. I just heard the term “mailbox money” the other day from a friend who was describing an acquaintance… what does he do for a living? He goes out to the mailbox.

        Gonna use that.

        ______

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        • Kultur Jamma

          99% of all human statements are the regurgitations of what other people have already said, in an effort to convince others “this way” is the right way.

          Be my guest 😉

          Or realize you own mortality, and say something completely new.

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    • Cascadian

      There is a Senator from Wash. St. who was a dot-com exec. She borrowed against her stock to fund her campaign in 2000. Then, of course, the stock crashed and she had all those loans owing. But never fear, people like Hillary and Ted Kennedy put on some fund raisers and all was made better. Anymore those single digit million$’s are like a nickel or a dime for US Senators.

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  7. HawaiiFive0

    The combination subscription of the PPT and 12631 is dynamite, because one provides the tools and the other the educational component.

    Thanks Fly, I believe you’ve manage to put a combination together that has the potential to make any serious student very wealthy!

    What Henle once said about a good Ph.D. program, I believe is equally true about the PPT and 12631.They result in not only a quantitative, but also a qualitative transformation of mind.

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  8. gregoryajohnson

    is buying the $BX /$FIG names directly rather than picking the individual stocks a way to participate?! or too easy?

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  9. arizonabordergaurd
    arizonabordergaurd

    zz

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  10. Dr Genius

    Fly,

    I know you dont give a shit about props or good wishes from us busboys.

    But, I hope that you have a happy Christmas and New Years.

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  11. ButNeverEnough

    I bought CMI last Jan under 50 on the advice of the PPT/Fly, and I llked the story.

    It is now 111 or so, 1 or 2nd in the SP.

    My wife thinks that shows that I waste a lot of time trading. Trading is fun; I do enjoy the smell $$$ burning in the morning. But I wish could tell her something more than “Yeah so cool., I better sell.”

    Happy Holiday and thanks.

    Once and Future Piker.

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    • Kultur Jamma

      Tell your wife to get off the reality TV shows and maybe you’ll be even.

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  12. JakeGint

    Charlie looks incredibly Strong in the Beernutz O’ Brady Bowl.

    There’s a lesson there, Urban Meyer, et al.

    __________

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  13. Juiceyfruit

    The Maestro has spoken.

    Playing the market like a fiddle.

    Epic.

    8)

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  14. theedge111

    Smart Fly…Couldn’t agree more.

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  15. stinkystank

    love posts like this…

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  16. TimWP

    I’m a novice at investing, I’ve been reading iBC for about a year now and will become a subscriber in the new year. I have followed 2 people into trades this year: Fly – FTK and JackGlint – EXK and this FREE content they provide has paid for my membership fees over and over…
    Anyone who reads (notice: reads not flames) this site for any period of time, is interested in investing, and can recognize value would be insane not to subscribe.

    Thanks Fly for the great content, see you on the inside.

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  17. surplusdroids

    Congratulations sir!
    Well deseved, and a large thank you for the insight and commenterieus.
    (sic)

    May your 2011 be fruitful and abundant.

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  18. A Monkey with a Big Fucking Solar Panel
    A Monkey with a Big Fucking Solar Panel

    SOL, was the idea to make money on this stock?

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