iBankCoin
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
23,354 Blog Posts

Sideline Shit Talker

That’s right, “The Fly” is talking shit from the luxury of the sidelines. I know it’s annoying to hear of such faggotry, cashed up while the market is doing funny things. Just know, I will be out there soon, taking wild, drunken, swings at stocks, in an effort to tack on another 10-15% to my year to date gains.

I am looking to sell short into strength and dance on the graves of those who bet against me.

For the day, I made 0.0% and my demeanor was calm, Caribbean breeze-like, unlike you frazzled, sleep deprived caffeine junkies.

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Fuck Your Bonus

Congress just dipped their ugly feet into the communism game, via passing a law to tax AIG‘s bonuses by 90%. Now, we all know AIG sucks dick. But, this is a dangerous precedent.

You need to ask yourself, in all seriousness, what PE ratio should a socialist America be pinned to? 15x, 10x, 5x? Aside from the destruction of capitalism, we have an out of control, spiraling economy, spearheaded by rampant corruption and an outright banking failure.

Plus, do not forget, commercial real estate firms will not be able to refinance the enormous debt loads they face, from 2009 through 2012.

Use strength to sell and then sell again. If I was invested, I’d be nibbling at some shorts here, particularly MAC, ACC, WRI and HME. I want no part of the inverse etf world. And, I do not want to jump in front of the inflation hawks, who are bidding up commodity stock, just yet.

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The Black Flag

The Federal Reserve’s experiment will fail. There is no proof that their insane plan can work. Moreover, thus far, everything they’ve done has resulted in disaster. They are entirely, unequivocally, out of bullets.

Men in green leotards and funny hats are buying commodity related names, at the same time yields are crashing. That’s fucking stupid. Someone is wrong and I bet it’s the dumbass equity trader.

If you made some coin, playing the long side of this tape, take profits and be a man. If you are short, well, good luck sleeping for the next month or so.

My point is this: with all of the trickery abound, why bother guessing the near term direction? With my money, I rather wait for the buyers to exhaust themselves, then go in short, large. I do not think it is smart to chase stocks. Furthermore, I think it is stupid to buy banks, after 100% moves.

Failure to adhere to the warnings outlines above will lead to, without a doubt, the ominous, yet friendly, BLACK FLAG.

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The Best Thing That Ever Happened to Me, part 3

The dot com craze was in full throttle mode and I was taking full advantage. All of the countless hours spent gawking at the bloomberg terminal, researching about the internet, was transforming ideas into cash, via egregious stock market gains, both professionally and on a personal level. My small America Online position, ticker AMER, had exploded in value and my book of clients was robust.

I staffed up, hiring a sales assistant and several cold callers and account openers. Monthly production was humming along at a brisk 100-275k per month; life was good to say the least. I couldn’t handle the order flow, especially since, back then, every single trade had to be written out on buy or sell tickets. Often times I was unable to eat lunch, due to the enormous burden of order flow at work.

Out of necessity, my work hours were still asinine, 8am to 9pm. It was just part of the job.

I deposited a lot of my personal worth into the stock market, moved out of the basement, into a Brownstone. My friends and family really had no idea how much money I was making, since I kept a low profile. They just thought I was “doing well.”

Every month or so I’d spend thousands of dollars on jewelry for my wife, from a private jeweler. One time, I was counting money, about to head over to my jeweler. I had about 15k spread out all over the desk; suddenly, my sales manager walked in unannounced. He just sort of looked at me, bewildered, as if I was conducting a fucking drug deal or some shit. I still remember the look on his face. Good times.

In addition to stupid diamonds, I spent a lot of money on sales leads, thousands of dollars worth. Somehow, someway, I was able to purchase the entire book of client contact information of my old nemesis— that fuck faced sales manager, who had fired me 2 years prior.

I went to work.

I was obsessed with exacting revenge on that fucker, who had fired me and took my book of business, immediately after my Grandfather’s death. One by one, methodically, I convinced his clients to leave him and transfer to me. It was like taking stupid from a cold caller.

Granted, it was a diabolical plan, one that I would never inflict on anyone else. However, he deserved it and more. He was stealing books for years. He had no talent, so he back stabbed his way into a lofty position.

Payback is a motherfucker.

In a period of two months time, I had successfully transferred more than 30 of his clients and millions in assets from him to me. It got so bad, so egregious, my sales manager came into my office one day, displaying a “cease and desist” order, from a certain vanquished former sales manager. I viewed it as an offer of surrender; so I stopped calling his book.

Years later, incidentally, we worked at the same firm together, again. But he never said a word to me about the whole ordeal.

Hence the term was born: “The Fly” wins all the time, even when he appears to be losing badly.

Part 1

Part 2

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Reminder

While you bask in your pikerness, remember the answers.

[youtube:http://www.youtube.com/watch?v=P93nrB0silk 450 300]

Bear market rally. Nothing more.

UPDATE: “The Fly” versus 3rd tier blogger of choice..

[youtube:http://www.youtube.com/watch?v=9OW_EUDGp88 450 300]

UPDATE II: More Faber.

[youtube:http://www.youtube.com/watch?v=KP_fkmNgzdM 450 300]

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Smif-n-Wessun – Sound Bwoy Bureill

[youtube:http://www.youtube.com/watch?v=U6zJ6ds2rqM&feature=channel_page 450 300]

Dedicated to all bank shorts.

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Bank Shorts Step into Murderhole

FAZ and FAS are on the verge of swapping places. I’ve been warning you fuckers of such happenings for the better part of 2 whole days. To be honest, not having skin in the game sort of disconnects me from the reality of trading. I’m like some remote control General, 10,000 miles away from the battlefield.

Quit your fucking bellyaching. A. I don’t need the money. B. Whenever I choose to step back into the market, I will own it.

So, pretty much, I am here to throw meatloaf at you fuckers, who are long or short this market.

The declines in SKF, FAZ, SRS and EEV are absolutely hilariously horrid. Do yourself a favor, keep your exposure to those bastards minimal, especially when counter trend trading.

For the record, I think the Federal Reserve’s plan to buy $1trill + in treasuries is a ponzi scheme. It is the Godfather of all ponzi schemes, purposely crafted to manipulate the market, via setting rates. It is NOT the way capitalism works. As a result of their fuckery, I predict the corporate bond market will suffer mightily. And, I believe TLT will go to new highs.

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