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
23,471 Blog Posts

NASDAQ PLUNGES 100: EXPERTS EMERGE

So I am listening to this short seller (Fichtorn, the loser who owns IMMR, on their board, crushed in gold stocks, etc.) on the teevee and he is declaring stocks have 80% downside from current levels. He’s shorting everything, of course, especially since he NAILED the dot com crash (his words, not mine). With the NASDAQ off by a hundo, it’s the perfect time to declare everything to be rotten to the core, cause a panic, then bathe in your returns.

Do you remember when I sold IMMR? Well, I sold it because that guy, Fichtorn, was on the board and his hedge fund was getting crushed, long stupid positions and short everything that soared. He is one of the very worst investors in the world, yet CNBC feels it necessary to give him a platform to spew his ignorance on a day when the NASDAQ is off 100. This guy even threw mashed potatoes at my WDAY position, which is having a fine day, might I add.

I have nothing else to add other than the fact that all of my stocks are down between 5-9%, putting me back to the lows.

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44 comments

  1. juice

    CNBC fired Gartman so they had to replace him with the 2nd worst investor of all time, Fichtorn

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  2. xxxHuggieBearxxx D.P.M
    xxxHuggieBearxxx D.P.M

    How many times are we going to bounce at 1840ish? I don’t think its going to hold this time.

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  3. The Pirate

    Why does Carl Icahn refer to himself as ‘we’?

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  4. asteroids

    I am down 6% YTD. Unhappy about it. Awaiting lower prices to buy.

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  5. Cascadian

    Gary Kaltbaum claims to have made the correct call in 2007 before everyone else. I heard it on his radio show this week.

    Therre’s a lot of smart M’F’ers out there, if you listen to them.

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    • Jermey

      that guy doesn’t make money on the way up or down. is pure talking head

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    • moeson

      Kaltbaum avoids bear markets but doesn’t know how to book a gain. Terrible returns over time.

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  6. jules

    He was so excited that people are losing money. What a sick human.

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  7. SCJ

    Ugh

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  8. QUIKTDR

    Please do not use my picture again to headline your articles. I didn’t look like this before I went long

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  9. OG

    Wonder how many times I need to get beaten down before I give up.

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  10. xxxHuggieBearxxx D.P.M
    xxxHuggieBearxxx D.P.M

    EWZ is now an inverse play on the US market….really crazy.

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  11. xxxHuggieBearxxx D.P.M
    xxxHuggieBearxxx D.P.M

    This could be a 200-point down day on the nazz

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  12. Badduck

    I think this says it all about Dialectic. Astronomy. Might as well have a B.A. in Goat Fuckery

    John Fichthorn has a B.A. in Astronomy from the University of North Carolina at Chapel Hill. Luke Fichthorn was a VP of equity research at Lazard before founding Dialectic Capital.

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  13. Mr.Partrdige

    Pussy traders win again… sitting tight

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  14. slim tim

    Seems like the only pussies are the ones holding the bag and whining.

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  15. managerlou

    I keep hoping to see Fly once again return to the glory of punching mustaches off of faces and tossing lit molotov cocktails from his 80’s style stretch limo. Come on!

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    • Jermey

      why don’t you just put on some lipstick, pop a mint in your mouth and get on your knees

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  16. Schizo168

    Master xu looks like a guru right now went long an now shorting yelp ! LOL

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    • Rong Xu

      Mr. Unclear in the mind 168:

      Unfortunately, I covered early and went long at about 66.66. Satan’s decimated number.

      Sincerely,

      Rong Xu

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      • Flanki

        Wrong Xu,

        Should I go long YELP here? 65.50 ?

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        • Frog

          His name is Rong, not Wrong. He’s not Wrong– not much anyway.

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        • Rong Xu

          Flanki:

          I don’t know. Do you have credit card bills that need paying?

          Sincerely,

          Rong Xu

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          • Flanki

            How about “Wrong for now, XU” ?

            Rong,

            I bought YELP shares with my credit card.

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          • Flanki

            I decided to sell my YELP up wun dorrar. Thank you for your advice Rong.

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      • Monte Burns

        Mr. Rong, do you intend on being 0% long into the weekend less YELP and shorting the russell into next week?

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  17. DirkD

    I think Rick Ross had something to do with this. He has offended the Gods.

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  18. OG

    Is the world ending?

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  19. Frog

    Yes, the world is ending. Either that or else there is a big 30 year bond auction today and the Fed wants everyone to sell stocks and buy bonds today.

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  20. JB

    Fichthorn for President !! ..

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  21. longview

    Janet Yellen giveth, Paul Ryan taketh away.

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  22. 5:00 PM

    World not ending. Was around the last time it ended. This isn’t even close to the same vibe. Mostly on the sidelines since September, starting to get in now.

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  23. J Livermore

    To the FAZ mobile !!!!

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  24. xxxHuggieBearxxx D.P.M
    xxxHuggieBearxxx D.P.M

    Long 5 ES contracts here….should get a nice bounce into earnings next week.

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  25. Roger Smith

    http://www.cnbc.com/id/101214861
    Best opportunity to short since he started his firm 10 years ago he said in November 2013). For some reason he didn’t mention 2007 as a nice short.

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