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
20,690 Blog Posts


I don’t know how it happened, per se — but I am now BREAKEVEN for the day with the NASDAQ +170. This morning I booked a SUNDRY of gains and felt really sure-cocked about myself. I shifted to an 80% cash position and then started to slowly crawl back into the market. Said crawling, more or less, has fucked me for 100bps.

I stand here whipping in the wind, wondering where it all went wrong. I am now 80% long, two inverses in the mix which are certain to produce losses, and I feel like all of my picks are floundering — just sort of lying there in the sun getting baked.

An important rule of thumb for me is recency bias. If I do not like the stocks I own now, I sell them. It costs me nothing and provides me with a clean slate, which I like a great deal. Oh how I wish a clean slate were available to me in other facets of my life — but I am old now, 44 and aging rapidly, and the time for do-overs has long passed. At my age, I am only interested in legacy, building my net worth, and perhaps leaving some money to my ungrateful children.

Or, maybe I will leave the money to iBankCoin and keep it running for the next thousand years, hiring other Fly’s to lead the site into the darkest most depraved areas of finance.

One thing is for certain, I want my stocks to go up now and I hate looking at them flounder. Nothing worse than inaction.

Life for me, recently, has been back to the gym, tennis, and trying to pick out a country club to join. My fucking tennis coach is an extreme bastard and I secretly hate him, but will not give my wife the satisfaction of knowing this — otherwise she’ll weaponize it against me. I have lessons today and I cannot help but to give him an evil stare when he chastises me with his inane platitudes built for 8yr old boys. I want to, if I’m being honest, take my tennis racket and crack it over his head. Last week, while trying to correct me, I made sure to beam a ball back at him as hard as I could, which caught him off guard and nearly removed his head from his body. Perhaps tonight I will be successful.

I’m up 20bps now. Farewell.

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  1. purdy

    “…gym, tennis, and trying to pick out a country club to join.”

    Oh you poor dear.

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  2. ha

    Find another coach, immediately. As soon as you do; fire his ass.
    As my boss used to say about vendors: I’m the customer; you’re the asshole.

    Had he taught you better, you would have been able to take his head off with a 160mph 2-handed forehand.

    Don’t let him linger,
    like that car.

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