Today was good, erasing all of yesterday’s losses. Now I have to work on reversing the tragedy of Wednesday. I put some money to work in APO at the end of the day. I really like the asset managers as a low risk play on equities. They have many ways to beat estimates, one of which is through the issuance of stock–whether that be an ipo or secondary. Either way, I am a buyer of BX and APO. I should’ve bought WETF back yesterday; but I missed it like a nerd.
My shorts, AG, CCL, declined too–making today a near perfect session. If it wasn’t for the homosexuality of BZH, I’d be slapping people in the face with hot slices of roasted beef today.
I’m gonna calm down now. My nerves are always on edge. I’m a big, giant, ball of energy–moving from one project to the next. I have a lot of responsibilities and grow weary of the mundane, so I need to keep it moving, else I might explode and commit triple homicides.
On an unbelievable side note, my good friend, “The Devil”, saw Ben “the beard” Bernanke at an airport recently and had a chance to introduce himself and have a small chat. The Devil asked Ben about gold and he retorted “there is no inflation and there will be no inflation.” Now the story will start to sound slightly unbelievable. He said Bernanke furthered by saying “I’m going to keep my foot on the pedal.”
Wow.
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So you got back to BE on AG and you still haven’t covered??
BTW, what do you mean by this?
They have many ways to beat estimates, one of which is through the issuance of stock–whether that be an ipo or secondary.
Can you explain?
________
portfolio companies.
Sorry for the cloudiness of my post.
GOLD TO ZERO
Right there with you on gold. Not because of its intrinsic value, but rather because every gold salesman I have ever met in real life is the lowest of the low on the social hierarchy. Right under vegans and people who watch the Bravo network.
Rob Carl: What’s wrong with vegans? Where does your brain reside? That will be my early afternoon snack.
The Fly is God.
I’m very sorry.
But you’re wrong.
And that IPO window hasn’t been the most robust thing in the world since your boys in Congress got done with Sarbanzing their Oxley’s and Franking their Dodds.
Private Equity exits are the preferred liquidity events these days, even for the bigs.
_________
Trw just announced a secondary offering, which boosted earnings projections by 3-5 cents for the qt.
Ipo window has been very weak, but that’s about to change.
For jake:
Our Call
TRW Automotive announced a 10m share secondary offering marking the fourth secondary offering from a BX portfolio company in the past two weeks. While BX’s cost basis isn’t publicly available, we estimate the offering could drive $0.03-$0.06 of 1Q13 distributable earnings. Quarter to date, we note the announced offerings combined with stable fee-related earnings represent roughly $0.17-$0.22 of distributable earnings exclusive of other realization events.
Fourth Portfolio Company Secondary Offering in Past Two Weeks. TRW Automotive (TRW, $60.15, Buy–Ward) announced a secondary offering of 10 million shares (11.5 million with over allotment), marking the fourth offering from a BX portfolio company in the past two weeks. Following the offering, BX will continue to own 8-9.5 million shares (~9% outstanding). BX owns TRW in its BCP IV fund which is able to realize performance fees.
Is that an exact quote about keeping his foot on the pedal? That does sound rather unbelievable.
That’s nothing, he didn’t even tell you the second part….
Devil asked Ben, “Well, what about the endless QE? You really think you can do that into eternity without setting off the inflation bomb?”
Whereupon Bernanke then clamped his eyes shut and slammed his hands over his ears and shouted,
MEEE-MEEE-MEEE-MEEE!!! IIIIIIII’M NOOOOTTT LIS-TEN-IIIIIIIING!!!
____________
An exact quote.
As Sponged Bob would say, “Really? Really really really really?………….REALLY?”
Very interesting!
weird divergence in ppt. good breadth. large caps rated buy still very low.
fly, any insight into what this could mean for next week?
Ill do a post in ppt this weekend
Fly, you serious about that Devil/BB conversation?
Yes
I still have The Fly’s goat. Perhaps the egregious losses were caused by the cancelling of the March Madness prize (and the loss of your goat)?
You are a bastard.
I still have The Fly’s goat. Perhaps the egregious losses were caused by the cancelling of the March Madness prize (and the loss of your goat)?
proud owner of The Fly’s goat
Zephler was and is the bastard who complained about the $25 PayPal fee after I awarded him a $1,000 prize.
Please attack him with everything you’ve got.
I think if we all stick together, we can fight the Fed!
Lol
Asking Ben about inflation? Should has asked him about something more real like invisible pink unicorns.
You last sentence…:”Wow” makes me think you are not joking about the pedal.
I wasn’t there, so it can be a lie. But The Devil doesn’t lie and only him would have the luck to inadvertently bump into Ben Bernanke at an airport.
Ben has Ben-like clones running around in airports all over the country.
True story:
Had a friend that sat in on a meeting with Bernanke and one of the people in the room asked Ben:
“What would you do if China told us they were going to liquidate their treasuries due to our deficits?”.
His response?
” We wouldn’t pay them back”
I was floored after hearing that one.
Not to worry: gold is rallying in British pound terms…
There is always a bull market somewhere .. for gold.. just not here and not now….
Ben will crash commodities the same way he inflated them… give him time….
Prediction: US will rally hard with equity markets and bonds.. yes I said ‘and bonds’… all commodities will collapse by 20% more..
All commodities are in bear market, not just gold and silver.
Every bull market is different, this one will run without commodities…
PS: in the past week copper short outperformed gold short
I’ve been a fan of the site since Broker A and Broker B were exchanging banter. I am still a fan. I was extremely grateful for winning the March Madness of 2012. It was the penny wiser pound poorer side of me that brought up the Paypal fee. It was in jest that I brought it up, and I do regret offending Senior Tropicana in doing so. The harm that I have brought in the IBC community through my “being a whiny bitch”, and my looking a gift horse in the mouth, is shameful. I will say this, I am currently playing $IOC, if things work out in my favour (the proper spelling, not the American ebonics spelling btw), I will put up $500 towards the winner for my indiscretions. I am a socialist at heart, and believe in working towards the betterment of my fellow man through my hard work. Since the consequences of my clap trap have penalized the current state of what was a great competition, I feel that I should try to remedy the greatness that I have soured. What other site offers such a lavish prize for it’s members? None. I was in the wrong, and I am a gentleman enough to admit it.
This will not stop the attacks.
Gentlemen, take off your topped hats and attack!!!!
I LOL’d
Yo momma dresses you funny.
Of course you’re a socialist. Someone gives you the shirt off of his back, and you complain that it is without starched collar.
Ben sounds far more baller than I previously imagined… Fly’s stories of Ben ashing his blunt and muttering, “I’m gonna get these fuckers (no cursing)…” seem all the more plausible. Also, why is Ben not flying on a government jet?
Poots
No idea. He did, however, have two armed guards with him.
I can’t believe how gullible people are.
Only a few days left in Black History Month ……
http://youtu.be/mx9ys67x_GY
Thanks Fly, good song pick, inspired now for the structure of a new song.
Bennie the Bernank is creating Bubble III and there is going to be a bull market in wheel barrows to carry around these Obama dollars. Bennie the Doc keeps shooting his patient with morphine because he knows that it is gonna hurt bad if he stops.