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
19,430 Blog Posts

I Promise to Never Sell Short Again

Even though I think stocks look weak, especially healthcare, I shall not short them. I am constantly reminding myself that only the biggest idiots sell short. Amongst the biggest idiots short, only the dullest of lamps shatter their faces across the market in a manner that seems both stupid and cruel.

You cannot sell short stocks while an Apex Narcissist is President.

Get that through your thick skulls.

For the day, I coasted, bought an old man stock and also an end of day ripper into the AM. Not much else to say other than ‘see you fuckers tomorrow.’

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6 comments

  1. irma vep

    Fly, How much money should one have before buying one of your services? Could I play with $10,000 or would it be a waste of time?

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  2. numbersgame

    Are you seriously asking a salesman if you will benefit from his products?

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  3. numbersgame

    Are you seriously asking a salesman if you will benefit from his products?

    If you are looking to trade, then assume each trade will be approximately 5% of your trading funds, so $500. So now look at commission costs+exodus costs vs the average profit on a $500 trade. Frankly speaking, no matter how good the trades are, it would be difficult to make a profit if you had to pay 4% commisions each time ($10 buy/sells on $500). New traders get around this by increasing position percentage size, but this overexposes them to blow-ups.

    If you want to invest your long-term funds to match Fly’s Quant portfolio, then the questions you shoudl be asking are (1) what is the average numbers of posiotns he holds and (2) what is the turnover rate, (3) waht was the maximum drawdown during 2018 4th quarter. Then you can figure out your annual trading costs and again compare this and the exodus rate to the Alpha you’ll gain vs investing on your own.

    I will note that their is a reason that hedge funds and fund managesr usually require clients to have a bare minimum of $200k before taking them on.

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  4. ferd

    Silver broke out of its declining wedge, followed by a deep retrace to support. Whether 8:30 inflation is hot or cold, PMs should do OK here.

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  5. irma vep

    M Fly, Where or how do I get a discount code?

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