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
20,951 Blog Posts


What an iconic day. Where to begin.

I started off the day as Gordon Gekko, calling shots, not eating lunch. Then I sashayed from my gameplan and tried to get cute and belly flopped right the fuck onto the concrete. I went from +100bps to down 390bps at the session lows. Then rumors of a fund getting margin calls tanked shares of VIAC, DISCA, FOXA, AMCX, LC and about two dozen others. I stepped in based solely upon fundamentals. I don’t give a fuck what hedge fund is selling down VIAC — that fucker is off by 50% this week, presently trading 60% below it’s historical FPE and FPS.

Into the closing hour the market got onto a fucking rocket and ripped. I recovered half my losses and ended the session down just 180bps.

In the midst of all this, I switched my allocation to mostly cyclical risk averse stocks. I suspect this rage we’ve been dealing with is a financial matter, some fucking retards levered and hooked. After it passes we can have normalcy — but into the weekend I felt it necessary to reduce the boom and protect my 166% YTD returns.

Separately, my once per month managed Quant fund was +230bps, without pause or angst.

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  1. indexjoe

    I trust you

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    • emersonlakepalmer

      Trust everyone, but always always always, cut the cards.

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