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
23,414 Blog Posts

Clarifying My Position On Stocks, the Blog, Etc.

Since some of you don’t tune in religiously every day to learn about what great things Le Fly has cooking up, I’m detecting a bit of confusion when it comes to my content and market bias.

Plainly, I’ve succumbed to the mental illness that has plagued Tyler over at Zerohedge since the day he was born. I do not like stocks in a box, with a fox and certainly not with a cocks. But my bias is somewhat moot in that I quit the business back in late December. I am not trading my account and do not manage money professionally any longer. If I was managing money, I am sure the content on the blog would be different, as I am a degenerate of the first order and love to bury myself in stocks.

Having said that, I have but one position, TLT, and will hold it until the yield curve inverts. It is up over 9% for the year, or 9x better than your fucking nasdaq, so you can go fuck yourselves in the back of a rancid urinal. Sorry, I don’t know what came over me.

I’m also trading the oversold signals in Exodus, which have proven to be extremely accurate over the years. But this isn’t a sales pitch. This is more of a clarification of where I’m taking the site.

None of which I am posting is purely editorial. I am posting mainly news now, with my spin on things. If the news is overly bearish, that’s because the fucking news is overly bearish. I am not simply making these things up. When Macy’s and Tiffany’s warn of impending disaster, I am not able to say “they were just joking, go ahead and get long the shopping mall.”

If you’re relying upon my blog for investment advice, you’re making a mistake. You’re better served going over to The Option Addict’s or Ragin Cajun’s pages than mine, if it’s specific picks that you crave. “The Fly” is too busy talking shit, on a very grand scale, than to cater to the likes of you–offering up stock advice to a class of reader that is simply unbelievably dense.

Along those lines, however, I do manage a GARP index in Exodus, which I update twice per annum, and that’s up 0.7% for the year. Give me a medal.

In summary, I want the world to end because it’d be fun and interesting. Plus, I have a mental ailment, apparently. Also, I’m not managing money. Instead, I am blogging, walking around my house in my robe all day, talking extreme shit and having fun on the internets.

Why did I quit managing money? I was doing it since 1997 and it was starting to make me crazy. Most of the time I was miserable and I got burned out, in spite of all of the money it produced for me. I wouldn’t wish that job on my worst enemy.

Makes sense?

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48 comments

  1. frog2

    how do you have your hair cut / styled?

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    • Dr. Fly

      I have it all shaved off, like a fucking Roman warrior.

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      • roundwego

        my hed is shaved like budha

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      • dcolella15

        To truly live the life of a vagabond blogger on the internets, you must allow you hair to grow in the manner that it chooses. Signifying your true commitment to the lifestyle of the blogger. Furthermore you must grow your beard to absurd lengths that are beyond socially acceptable, while meticulously grooming it to make it look like you don’t care how ridiculous it makes you look.

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  2. 99 lead balloons
    99 lead balloons

    Time to cut it himself

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  3. iflyjetzzz

    I remember a couple of years ago when you sounded really, really burned out and I suggested you turn off everything financial/investment and take a family vacation. You kept on slogging through. I’m glad to see you’ve stepped back from following the markets daily; it is a grind. I’m less engaged today than I was a few years ago. Moderation goes a long way but I suspect that The Fly only does full bore or zero.

    As for Tiffanys/Macys, yes, consumer demand is softening a little bit. But brick and mortar feels both the slowdown and the cannibalism from e-commerce. All of brick and mortar is quickly becoming Barnes and Noble/Borders/Circuit City.

    The world’s Central Bankers will everything possible to prevent another meltdown. QE to infinity and beyond.

    One suggestion: Just say fuck it and take the entire family on a monthlong European vacation. This place will survive without you (although I’m sure you’d still write an occasional blog post). A long European trip will leave a lifelong impression on your children. See the Tower of London, have a beer at the restaurant outside of the Coliseum in Rome (next to the subway stop; cheapish beer and food there), see how tiny the Mona Lisa really is in the Louvre, walk among the ruins of the Parthenon in Athens, visit the ‘Disney’ castle in Germany (Crazy King Ludwig’s Neuschwanstein Castle). We’ll still be here when you get back to work.

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  4. it is showtime
    it is showtime

    Perfectly natural chart into the close. (The gov programmers couldn’t get 2100-?-)

    Dow P/E 19ish
    S&p P/E 23ish
    Vix 13borderlineish
    Debt armageddonish

    Central bankers (or their controllers -ha-) are only creating collapse not saving from

    See you on the other side of the 3day

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  5. Bullish

    Sounds like this business has burned you out to the point of quitting. I’m sorry to hear that. You must be making good money on this internets gig to walk away from money mgmt. Hope it was the right move. Hope you have a great weekend! I will memorialize the Fly of the past that slapped cold callers in the face with hot pizza and pushed old men in wheeled chairs now the stairs.

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  6. nyjag

    After 24 yrs in the industry, today marks the 2 yr anniversary of when I sold my book and retired from the biz.

    Needing to give zero fucks about OPM, unscrupulous peers and even worse management, has amazing physical and mental healing powers.

    With the exception of my wonderful wife occasionally mistaking my mostly cavalier lifestyle as her having a personal errand boy, I’ve gone from a 10 on the asshole scale to very recently being told that I have a “kind soul” (had to laugh when I heard it and almost threw up in my mouth a little).

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  7. braveflaps

    Enjoy your Memorial Day, Americans.

    Thanks for the

    FREEEEEEEEEEEEEEEEEDOM!!!!

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  8. traderconfessions
    traderconfessions

    Post-traumatic money managing insanity! That explains your unabashed support for the oranged fellow. Welcome back!

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    • SGT HARTMAN

      Oranged hair made 3 speeches yesterday in front of 30,000 people. Hillary made one speech in front of 300 paid supporters and campaign volunteers.

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    • frog

      Post-traumatic money managing, LOL, a new diagnosis for the DSM-5 Diagnostic and Statistical Manual of Mental Disorders. Yes, we should put that one down in the book.

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      • frog

        Probably a number of careers are stressful enough to cause post-traumatic stress disorders.

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  9. aformalcat

    When does the name change to ZeroCoin happen?

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  10. The Maven

    Not too many writers I know who can beat his own readers about the neck and head like this and get applause from same. Well done.

    “The Fly” is too busy talking shit, on a very grand scale, than to cater to the likes of you–offering up stock advice to a class of reader that is simply unbelievably dense.”

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  11. evilspeculator

    Sad to hear you called it quits. So long and thanks for all the fish.

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  12. chuck bennett

    You girls all believe he abdicated? Like Trump has stopped doing real estate ? Or untrained dogs don’t piss on expensive rugs? Nagga please.

    Think about it, he side steps the 2016 grape rape Jan 1st of this mongoloidian year. He gets long via the ark TLT which is up 8.9% plus a 2.5 yield. He just might be getting bored of all you free loading, paint chip munching, small brained reptiles if you ask me.

    You kids are all sad and shit. Don’t be fooled by the rocks in your heads. The rumor on the street is entirely different from what I’m hearing. I’m talking monumental heights, gold, gravel and steel like, 2016 styles.

    Regards,

    Chuck Bennett

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  13. bexpo

    Hi Fly, I appreciate your candor.

    I commented about your doom & gloom earlier because there is so much of that everywhere, but – I trust you the most.

    It has been hard to hold a position in anything for more than a few days, sometimes only hours because of my FEAR.
    This has been a gut punching year in equities. If I held a position waiting for a better price – I get taken down, when I sell it goes UP. It is like an endless second guessing game at the end of every day. And oil oil oil seems to be the only real impetus for any stock to rise.

    I keep wanting to buy Exodus but my Apple computer is so outdated I fear it could not run the program. I am in a hate Apple mode at the moment because I did not ring the register last year.

    I like your writing & you are using your best talents wisely.
    More than I can say.

    Glad to hear you are content & having a Happy Birthday.

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    • frog

      Bexpo, Fly has free trials of a few days every now and then. Sign up for the next one and then you will know whether your computer can run the Exodus program or not.

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    • Dr. Fly

      Bexpo

      I’ve had a lot of down time to think about investing and the best approach to take. Much of trading poisons the mind with grandiose designs of riches.

      Pick 5 stocks. Work your ass off. Place any extra money into them once per quarter. Watch it grow.

      Or, sit in treasuries like me and wait for a better entry point.

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      • frog

        >Much of trading poisons the mind with grandiose designs of riches.

        Yes, it does that to a lot of people.

        The 5 stock method sounds good. It keeps investing simple enough so you don’t get your mind crammed with, and distracted by, unimportant stuff. And if one picks good companies, it is simply profitable.

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  14. halfbloodpope

    Uneasy lies the head that wears the crown.

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  15. desertfox

    The Fly is clearly ordering his affairs in order to pivot to accepting an invitation to be Vice President or Secretary of the Internets in a Trump Administration.

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  16. one-eighty

    Not to be too nosy but how much of an income hit is this costing you?

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    • Dr. Fly

      70% hit

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      • one-eighty

        Good for you. Good mental and physical health is everything, and many people sacrifice it for the mindless ego kick of seeing their bank accounts go up way past the point where it actually improves their lives.

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  17. jts5362

    You have my utmost respect Fly. I’ve been following your blog for over a year now and can confidently say I’ve become a better man in finance because of it. Along with Exodus, which is in its own category of superiority.

    Any honest tips to the young guys who are not looking to get burnt out?

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  18. chuck bennett

    Dam right gravel. See Vulcan materials and the rest. Nothing is built with out it.

    Regards

    Chuck Bennett

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    • frog

      Oh, construction materials. Thanks, Chuck. I will look up Vulcan and similar companies.

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    • ironbird

      For the wall you horseshit peddler. Think little frog.

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      • ironbird

        Response was not to Mr Chuck Bennet. It was for the kid.

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      • frog

        As if you could have named 5 gravel companies, before I asked the question. You are the horseshit peddler, Ironbird.

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      • moosh

        Frog, whether or not he could have named 5 gravel companies doesn’t matter. Your question was, gravel? Good talk.

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  19. J Adabese (your pen pal)
    J Adabese (your pen pal)

    Bummer.

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  20. active shooter
    active shooter

    Le Fly is a transcendentalist……….make your bones enjoying what you do. Bravo!

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  21. moosh

    Anyone know the deal with aldi grocery stores? They just opened one up where I live and there were lines going in and coming out with one fucking box full of groceries, I suspect?

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    • moosh

      It is positioned less than a quarter mile from a fresh market at that.

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  22. pb

    All I want to know is: what is your MBTI designation? I’m leaning towards a guess of ENTP.

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