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
20,692 Blog Posts

New Fly Buys Ahead of Fed

I sold out of more than half of my CNC position and added to FCX and JAZZ.

The JAZZ purchase was a much larger buy, assets wise. But my heart is in the FCX trade, which has done nothing but harangue me ever since I bought it.

I increased my FCX position by 30%

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6 comments

  1. bountyhunter1

    Amazes me that Jazz sells a “date rape” drug for 71% of its revenue. I used to make this in my kitchen with two chems that would run around $20 and a test strip and you were golden. $243 million in Xyrem revenue and 12,450 patients… $19,500 per patient for one Q… Wow.

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  2. pb

    All the virulence directed at the fed head – whoever it may be – is pointless. The short-term bond market sets the fed fund rate, they merely follow it. If they didn’t, an arbitrage situation would develop that would screw up the inter-bank lending system.

    In fact, the central planning pageantry of the fed could be dispensed with and automated if it weren’t for the ‘Wizard of Oz’ prestige factor. Any evidence to the contrary, I’m all ears.

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  3. bountyhunter1

    Less rapes than reported in the Jazz data … ????????????

    It’s for sleeping you know !

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