The Corporate Jet Guys Win Again

The countless millionaires and billionaires who don’t pay their “fair share” are on the verge of yet another victory, this time over Prezident O’bama. Seriously, if you just agreed with that statement, you’re a reprehensible goatfucker with a dogs brain.What the fuck is “fair share” anyway? Last time I checked, less than 50% of this country pays any taxes at all. Despite having a fucking magician for a tax attorney, I still managed to pay the cocksuckers in Washington a 6 figure tax bill last year. At the same time, my taxes are going up everywhere I look. I can’t fucking drive on the NJ turnpike for more than 5 miles without paying a toll. And to get onto my God forsaken island, I have to pay $13 for the privilege, via the Verrazano bridge toll.

Whatever the fuck they are doing in Washington isn’t working. Believe me, I am not hating on O’bama only. George Bush was the worst President in the history of the United States, which caused me to lose all faith in the political process. The policy for more than a decade has been to spend like fucking idiots. Why not try something different? Let’s cut the spending by $4 trillion over 10 years, just for shits and giggles. See what happens.

Oh, let’s not touch the seniors, right? Fuck you. My grandmother, rest her soul, used to visit her physicians 5 times per week for 20 years. There is no way she needed to see all of those idiot doctors. Old people use doctor appointments as social gatherings. Someone needs to tell those old fuckers they are NOT entitled to bankrupt the country for the sake of quelling their boredom.

I pay $1,300 per month for insurance and visit the doctor maybe 3 times per year. This society is filled with pussies, who live on hamburgers and fries then panic their way into a coronary, wondering how the fuck it happened.

I am a seller into this market. I am 70% cash, long DECK, BPFH, GSVC and a little WNR, FORM, VCLK with a TZA hedge. I intend to watch the bozos fuck up America’s credit rating and will buy the subsequent dip.

Complacency is high, while competency is low. A bad mix for stocks.

I sold out of 90% of my VCLK position for the explicit purposes of allowing myself to be exposed to DECK earnings, scheduled for this Thursday. My sale of VCLK upped my cash position to about 70%, leaving very little exposure to the market. I intend to build up my DECK position up to 15% of assets going into earnings. The company disappointed last quarter, but still beat estimates with ease. I suspect the guidance they provided was a sandbag, luring estimates lower, just so they could shatter them now. Either way, I have such little exposure, I can afford to take a gamble with DECK. Out of all of the high growth apparel names, DECK is most reasonably valued, trading just 15x next years eps.

VLO is down post earnings, mainly because they suck. I suspect WNR, DK, ALJ and HFC will trade down in sympathy over the next few days, making way for a buying opportunity. The earnings for WNR, HFC, DK and ALJ should be nothing less than stellar.

Finally, I have no intentions to sell GSVC at all, no matter what. If the stock dropped to $12 tomorrow, I’d triple my position. Within 30-60 days, they will announce their new investment. Are you willing to miss out on a potential Twitter investment press release for the sake of adhering to your fucking charts? I didn’t think so. There are so many great privately held companies now. GSVC is in the sweet spot of VC, having exposure to mature, well established companies, like Facebook and Chegg, providing exposure to a market that is normally closed to the average Joe.

It’s only a matter of time before this story get out. And when it does, no matter who you are, you’re gonna be shining my fucking shoes.

NOTE: My favorite way to hedge longs here is still TZA.

NOTE II: As told earlier inside The PPT, I sold out of BLTI.

I sold out of 90% of my VCLK position and added to my TZA.

I am now up 50%+ on my TZA calls. Do you how I timed the market top to the exact day? Ask around and you will understand that there is a sublime harmony of mathematical precision present here on iBC. You just need to know where to find it and unlock its treasures. My accounts remain flush with cash at 60%, awaiting for the chance to buy back in cheap.

You fuckers are simply too nebulous to play on the same field with me.  Most of you are red commies, dressed in capitalist pig uniforms, decrying the unfairness of life in general due to rich guys fucking up the world. This Halloween, be sure to take your nebulous asses over to your local costume store for a Joseph Stalin uniform. You can masquerade around town, taking candy from little rich kids and then giving it to poor kids throwing D batteries at one another.

You deserve what you get and most of you deserve nothing.

Bottom line: this isn’t pain. We are undergoing a benign sell off, which is going to lead to a flush. As always, “The Fly” is in the tall grass, waiting for a chance to go in for the kill.

Top picks: DECK, TZA

I am politically indifferent. However, I do lean to the right because the left is filled with a bunch of pussies. That being said, for the most part, I believe the republicans are a reprehensible group and should be disbanded as an organization. However, regarding the debt ceiling, they are 100% correct.

Like it or not, they were elected by their constituents to represent a mandate. This mandate states: “fuck big government and buying shit we can’t afford.” Again, if you are a democrat, you must respect these wishes. Since when is it a good idea to redistribute wealth from rich guy in a jet to some smelly homeless guy with a fucking heroin needle stuck in his neck? I want you to tell me why we should raise taxes in order to balance the budget, without emotion or ideology. Give me the path to prosperity, not what is fair in your eyes.

At first, I was against the GOP for playing politics with the debt ceiling. Then it dawned on me, if not now then when? Right now is as good a time as any to make a stand and tell the dicksuckers in Washington they can’t keep spending money on all sorts of brainless shit and get away with it. Just because we raised the debt ceiling in the past doesn’t make it right now.

I honestly believe the GOP is trying to save this country from damnation. Without some sort of fiscal discipline, coupled with easy taxes, we will not survive the decade whole. What they need to do is encourage businesses to expand by easing regulations and taxes. All of the waste and corruption is choking this country dry.

None of the cuts being made will have a major impact on GDP, since all of the entitlements are fucking retarded anyway. If it was up to me, I’d slash defense spending by half too. However, that would get me “Kennedy’d” or “Lincoln’d.”

One stone at a time.

I will let the distinguished Greg Solomon discuss matters of great important with you, on my behalf.

I am not talking about small, localized stupidity. What we are witnessing in Congress is grand, industrial sized, infectious stupidity than can only be matched by the head Generals at the Department of Defense. Do not think they are here to help you. They have no issue, whatsoever, taking your dumbass and throwing it under a bus or on top of an IED.

Although I nibbled on a little BLTI, mainly for novelty, I do not trust this tape and remain in a 60% cash position. Moreover, for personal accounts, I am long some TZA as a hedge. Mind you, for the reading impaired (CH), “hedged” is the operative word. I’ve given up trying to make money on the short side. It’s too hard. I rather sit in cash or treasuries and wait for the margin liquidation crowd to get nailed and/or PPT OVERSOLD signals be my guide.

Tune out the noise and think about what’s important here: making another 3-5% in a high risk environment or preserving hard fought gains.

Your call, goatfuckers.

I started a position in BLTI, buying 5,000 sub $3.90.

I’ve been into a different lifestyle as of late. About 3 months ago, I got burnt out from high doses of caffeine, coupled with stress and sleep deprivation. The result was annoying arrhythmia (4 skipped beats per minute) and mental fog. Since then, I changed my habits by eliminating all intake of wine and coffee. In addition, I’ve been taking mega doses of vitamin C, as well as other vitamins, baby aspirin and adequate sleep. As always, I exercise at least 4 times per week, a mix of weights, cardio and p-90x. I feel great. I kid you not when I say “coffee is poison.” It’s a fucking stimulant and it fucks up cognitive thinking. I am much better without it.

Thus far, the market is in denial, “non-eventing” the bad headline news. Nevertheless, I am not participating in this tape. Truth be told, I am up today, thanks to GSVC, VCLK and a benign DECK and BPFH. Plus, my little TZA call position is up around 10-15%.

I’m adhering to a certain discipline by sidelining myself here. I do not expect all of you to understand. However, then again, you fuckers never understand.

I’m waiting for a few shoes to drop. Don’t mind me, as I leave chemtrails above your bullshit house, zipping along throughout the United Steaks in my space rocket.

We all know the U.S. is not going to default by 8/2/11. However, I’d be hard pressed to find people out there who would say, emphatically, we will not default within 10 years given the current trajectory of the budget. We spend too much and we make too little. It’s only a matter of time before the debt load chokes us to the point where we need to authorize severe austerity measures and much higher taxes. By that point, the U.S. economy will be in a death spiral stage, boasting real unemployment of more than 20%.

The reason why it’s so important to the markets that we get our financial house in order is because, to some, we are still the hungry lion trapped in the room filled with inexperienced day traders (appetizers). The fact that the GOP and Dems cannot craft a deal tells the world we are a country filled with baboon brains, more adept at destroying shit than building.

Should we fail to raise the debt ceiling, the market will take a hit. Plus, don’t forget, the rest of the world is entirely fucked, including the biggest house of cards: China. At some point, everything will fall, 2008 style, sending Senator Gint to his local chapel for deep prayer to his imaginary friends.

At this point, I have no ideology or agenda. I know it sounds cliche, but buying the dips and selling the rips is the only thing that resonates with me. Do yourself a favor and try to tune out the noise, especially from 3rd tier blogs, owned by kids who have never held a job for more than 2 weeks. I do not find it fashionable to call out other bloggers for their ineptitude. Frankly, paying attention to another man for more than 2 minutes is a little fruity. I will tell you now, there is nothing fucking fruity about your Lordship, Le Fly, not even his illuminati lunchbox filled with fruit.