Davey Day Trader Portnoy entered the stock game a month ago with a chest filled with hubris. He made some quick coin, off RAZOR THIN margins, and got quickly dispatched and poleaxed for a million, or 33% his original investment. The net result of Mr. Portnoy having nothing to do on a sports website in a land without sports is wanton degeneracy and squalor.
He now is the Great Unboxer — receiver of gifts from strange and unusual people across the country. His “stoolies” send him dildos and samurai swords to assuage him against the pangs of stock market misery. This is a brutal affair, Mr. Portnoy, and only the lion shall prevail. As you sit there in your abode unboxing candied cigarettes and frozen pizzas, remember what made you rich and REMOVE YOURSELF from the stock market immediately, else fall victim to a most heinous series of misadventures and loss.
His lux NYC apartment now.
Morning. #UnboxingIX pic.twitter.com/Vrx4JGhslX
— Dave Portnoy (@stoolpresidente) April 14, 2020
On the other side of the spectrum, yours truly is having a MOST MAGNIFICENT time in the market, not because I am smarter or richer than Mr. Portnoy — but because I am a professional. I’ve put in my 10,000 hours and have EXPERT skills at identifying trends, something I’ve always been good at. Most of you were never any good and 10,000 hours of practice would do nothing for you, no more than a silly mask would protect you against COVID-19. I am an APEX PREDATOR in this market — a MASTER CLASS fisherman. My core staples trounced everything in the market today and I’m not even bragging about those.
Into the close, I reloading my gun with pipeline plays and a little SAAS. A little of this and a little of that. Markets aren’t supposed to make sense and the free markets have been dead for quite some time. I am looking out for my interests and the interests of those with me and have abandoned the religion of justice and morality long ago. This is not about doing what is right — but about pushing the envelope until proven wrong.
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Touche!
Hear hear!
Sweet sweet tits Fly
I should say despite the RIGGED nature I can’t be a little bitch. All my accounts are at or near ATH and this is the first crash where I’m not BTFO but actually up a little… Having learned from rug pulls of yesteryear. Plus I’m liking the crypto world.
I’ve been following Fly since 2003, and I’ve probably put in damn near my 10,000. Nobody trades like the Fly he is fucking one in a million c’mon it’s true. I’m maybe one in ten thousand and I’ll take it 😉
This is my first time being a gay bear and believe it sucks massive cock! I hate it.
Off to BBQ a giant turkey leg motherfuckers see you tomorrow and fuck the banks!
Wax on, wax off.
If you can break even at this you’re 1 in 100.
Everything is a video game this is your reality now: https://youtu.be/iLIikbW7bk4
I’m sure that all of you have thought of or read this already but here goes.
The fed is rewarding the irresponsible, ill considered, and hopelessly stupid. I don’t mean just execs and corporations but also the BTFD crowd.
Why try to be smart and efficient when gaming the system is what’s rewarded? Keeping money with the better companies means nothing. Hedges, which thinking people used to do now get stuffed up your ass.
What now? Just blindly throw money at the market?
There is no reason to practice prudence.
The big problem is going to come when the fed can’t, or won’t, help. The unwinding of decades of foolishness is the Next Big Thing. It will probably happen as soon as I give in, if I give in. But I won’t.
Not prudent. Risk is never dead.
You are undoubtedly correct, big picture. However, now may not be the best time to enforce that standard, it yielding the basic end of America and probably taking down every country we have large trade accounts with.
Personally, I think the only people at fault here (imprudence in markets, not slow reaction time to the virus) and deserving loss are the dumb bastards trying to put all our manufacturing in a communist rival or the ones trying to kill borders. And they can’t receive that punishment without nixing everyone else.
The course we’re on, the Federal Reserve will lose their independence within our lifetimes. It will be seized by a political movement and that movement will probably be distinctly nationalist. Nationalists will need to buy some extra support to get over the hump, and that probably means killing debt – student being the low hanging fruit here but they’ll want to keep transfers equitable – so every day is a wise down to own some PMs.
I’d summarize my thoughts by saying this is the end of the Fed we have known for a century.
i agree 1000%
but id say the Fed was designed for this purpose no?
the Fed has been making rich people richer through no work of their own since its inception.
the goal of an independent central bank was to take the power of the treasury away from the treasury because the government was not to be trusted…
now the treasury is more or less under the control by very wall street friendly billionaires… and so is the Fed
has the Fed lost its independence or has the American government lost its power to wall street?
the trump administration has been very good for speculative assets and every industry involved with selling those assets to regular americans.
people are in debt because it takes more average hours of work for the average american to buy an average sized house in the country. that can all be tied to wages not following inflation the way stock prices, bond prices, housing prices and tuition prices have.
the nationalistic bent you speak of is simply the best way for conservatives who see no problem with a real estate heir paying less fn his millions in rent made off of inherited property BRAIN SURGEON who invested in his own education by taking out loans, repairs BRAINS…, but must pay a higher tax rate.
thats the america the entire republican congress is crazy about living in.
an america where rich investors are treated like welfare bums and brain surgeons are treated like janitors.
nationalism is simply a way to get the entire white working class to focus on the welfare bums and mexicans while his wages are kept at 1980 levels.
if wages were tied to inflation there would be less college debt, more homeownership, higher savings, higher incomes across the board, and the stock market would be a lot lower, half of us wouldnt care much about it because brain surgeons would make millions like hedge fund managers do. I would have never been interested in finance it if was not the ONE industry kids go with bachelors degrees to earn $80,000. The kid who works at Google making that money is literally 1000x more skilled than anyone working on wall street right now under the age of 40.
Long story short. The Fed was built specifically for this reason, inflating asset prices. It was built and designed by a wealthy elite that was made up of individuals who were born with enough money to live lavish lives without ever lifting a finger, to ensure things would remain that way.
the kids of the 1870s gilded age people saw what the roosevelts were up to so they built a private central bank.
after the next roosevelt brought in the new deal and massive taxes, the next solution was to get the dollar off the gold standard… stock markets looked like shit in the 60s for a reason.
yet every baby boomer wall street shit wants to bring up the 1960s when they grew up as the best period in american history… when we had 90% tax rates
if you let me give my kids a billion dollars for doing nothing then in 100 years my grand kids will have a trillion dollars and the only skill they will have is throwing money at the government to pass laws and build a system where they get to keep their money while doing nothing.
Buffet Musk Dorsey Gates Zuckerberg all made their own billions and would be billionaires if the tax rate was 90%
the Walton family would be broke
long story short.
Trump is not a nationalist, thats why the ties are made in China
Bernie was
taxing millions from mitt romney and mnuchin and trumps millions to bring the standard of living in this country to one comparable to most democracies with GDP/capita that is half of ours makes perfect sense considering how much money these people made for sitting around and doing nothing with someone elses money
i worked in finance for 3 years. i left after i started thinking im doing nothing to make God’s green earth a better place. but i knew our financial industry was bullshit when i realized i was learning more from reading Fly’s blog than talking to my boss, or the president of the bank of Israel, about markets. They were way more likely to talk about NCAA basketball or apartment prices in Tel Aviv.
I am much happier as a network engineer. It took 3 years to get back to my 2016 salary but i’m no longer a LEECH.
trading my own money getting proven right or wrong is the complete opposite of what the billionaire class does.
if my moves go bad i lose my stacks and my wife and i’m in a studio apartment playing with computer parts.
real risks. no fed for me.
no way id let my kids live a life without consequences for their stupidity.
The fed was designed to be a clearing house for inter-bank payments. Everything else is an add on.
Another example of the congress delegating/shirking its duties. I think that the fed overall has done a good job considering the position it’s in.
The monetary response has been far superior to the fiscal response for at least 20 years, but without effective coordination futility is a problem.
The trouble lies in the legislative and executive branch.
It seems like all the bears on this blog – as well as major ones outside – agree on this.
As a related side note, it is ironic that Conservatives are so dead set agaisnt UBI, but are all-in on FED intervention.
I’m a supporter of governemetn interventio ntowards small business that are affecetd because their custoerms have to stay home. However, I am not supportive of the FED buying low-rated bonds when the taxpayers are taking 99% of the risk. The FED doesn’t lose any money until the taxpayer loses 100%. Keepign in mind who owned these bonds that the FED is buying, this is nothign but a taxpayer-funded gvieaway to the 1%. At least when the FED was buying Treasuries, the taxpayer benefitted from lower interest rates.
If the FED wants to buy corprate bonds, there should not be taxpayer-backstop. If the issue is liquidity, then their is no need for a backstop anyway.
A few other pithy things. Right you are Fly, just a game, made up of lines on a screen and numbers. The outcome is serious but it does not help to take the game, or yourself, seriously. Especially yourself- it is a variable, human nature, and only so much can be done with it. Some flaws have to be lived and some are more suited to trading than others. To wit:
Early on in this here “crisis” the fed got involved in a big way, and while many doubted that the fed was mighty enough, I anticipated much more capability than generally thought. The fed, absolutely, can create money in any quantity, as long as inflation remains acceptable and the bond markets don’t freak out.
And that was my big mistake it appears. In 2008 this intervention would not have occurred. It simply wasn’t acceptable to investors. I underestimated what the markets could accept and digest. Things have changed.
The Bank of England openly plans to monetize and not a ripple! With the fear of unrestricted money creation behind us it really is different this time.
The virus danger to the economy is being ignored. I suspect that most have no idea just how monumental and unique this undertaking is, or how much is riding on it.
We are not out of the woods, the interventions will need to be expanded greatly into uncharted territory, and the need for public assisstance by former middle class members will strain budgets. Deficits will be enormous for years…should I have said members of the former middle class?
What are the financial limits? Our economy has lived off of deficits and the fed balance sheets for 12 years now and we can plainly see the effects on the markets. Shall I dispense with caution and put blind faith in the money gods, which is presently working, or continue with a modified version of what I do knowing that this artificial economy will have consequences?
Pretty weighty shit for this turd. I’ll think about it the best I can and pick one. You don’t need to be perfect. No one else is. Except for maybe Fly and the democratic nominee.
says Mr. retest the lows
How do you figure the outcome of the biggest financial catastrophe ever running into the biggest wad of money ever? Lower lows or a retest was only rational.
Those who have been doing this longer than 12 years know the value of caution.
Money is electricity, learn and live.
UK economy could shrink by the most in 300 years in 2020
The Crash of 1709 was a real crash and France was the hegemony of western civilization in the 1700s.
So with all that damn money this Davey can’t hire a wall street fucker to guide him behind the scenes to prop up his show. Give me a fucking break!
BANG
So, this…
In unprecedented move, Treasury orders Trump’s name printed on stimulus checks
How about a hearty “fuck your name” from the House Speaker?
This is where I stopped reading…Do you seriously believe this made up bullshit? “Trump had privately suggested to Treasury Secretary Steven Mnuchin, who oversees the IRS, to allow the president to formally sign the checks, according to three administration officials who spoke on the condition of anonymity because they were not authorized to speak publicly.
Given his penchant to put his name on things and his minuscule button mushroom penis, I seriously believe he has such desire to put his name on the checks.
It just seems odd to have in a news article that three (3)? Rando people that can’t be identified said that a president privately wanted to sign every single check
Odd? Not as odd as Trump water and Trump deodorant.
A quick google for “tacky Trump merchandise” found some really weird shit like various Trump Pets accessories.
The people who believe this also believe Trump thought there was a Gorilla channel.
They underestimate him constantly, which is why they’re going to lose again.
He won’t physically sign each and every one of them, dumbass. But it will be easy enough to tell if his name is on them and that’s what the point is.
Let me know if his name is on your check as I don’t qualify for one.
The people that don’t believe it do believe Mexico is going to pay for dotard’s stupid fucking wall.
“They underestimate him constantly, which is why they’re going to lose again.”
Underestimate him? Not at all. We (since you say “they”) know there are about 60% of whites in this country who will drink his Kool-Aid anytime he orders them to do so. And we know 60% of whites translate to a lot of voters.
C’mon Moush. A narcissist like Trump. You know good and well he wants to do that.
Now, getting him to actually do work, like, say, getting equipment to hospitals, not a chance.
If I’m lyin’ I’m dyin’.
I love it. Daddy give you allowance, Daddy take care of you with cold.
I need retest lows daddy…lol
So let me get this straight. Davey Day Traders apartment is just flooded and overran with boxes and the detritus of shit people are mailing him??
Goldman has finished shorting their customers, apparently.
GS is a fairly good contrary indicator.
I ‘ll be most satisfied if my TSLA put brings me cash.
I was cursing myself yesterday for being ahead of the curve and short, thank God did not close shorts.
Today CNBC clowns are calling this virus invincible, we are doomed, dinos…