Did it ever occur to any of you that I do not care about your financial advice? For almost two years now, you have been treated with my take on the market, which is of course much better than yours, yet many of you still feel the need to give me advice or relish in my minor setbacks.
Oh, I get it. It’s a cool internet thing to do. Just know, “The Fly” doesn’t base his investment philosophies on 1 week of trading or 1 exogenous event, such as the socialization of America. Furthermore, the only reason why I even bother is two fold: 1. I like to write. 2. Maybe one day the site can generate meaningful revenue (which is highly unlikely). Just feel lucky that I still enjoy to write.
Back to the point: Bill Miller’s stake in Freddie Mac [[FRE]] has vanished. Poof. Just like that.
All of the investors in [[FNE]] and FRE equity were sacrificed at alter of Marx today, in order to help out a few good Chinese and Russian bond holders.
This is terrible news for the housing market. Essentially, more than 75% of the financing for the housing market is now being controlled by the same morons who write welfare checks, or give free health insurance to illegal aliens. Our government will now be in control. Don’t worry folks, they’re the government.
I’ll make this brief, for I am in no mood to sit around the PC.
I bought more [[SKF]] , [[SRS]] and shorted more Lehman Brothers Holdings Inc. [[LEH]] and Legg Mason, Inc. [[LM]] .
On the long side, I bought more [[DIG]] and Western Refining, Inc. [[WNR]] .
I believe the correct position should be: dollar weakness, commodity strength, fade the banks, buy the oil dip. Also, gold should benefit from this wretched act of thievery.
You know what’s funny? All of you so called “true Americans,” who are interested in the elections, are backing two guys (Barack and John) who have no idea what the hell just happened today.
Good luck.Comments »