To my own personal spending account that is.
I have documented my disdain for all of my neighbors, on this blog, regularly. In the past, they’ve accused “The Fly” of “being unfriendly” or “throwing empty Monster cans” on their front lawn.
Now, I’m depleting their 401k plans and Keogh’s, in a very clever way.
This is a whole new aspect, of being short the market, I have never thought through. Which is, by making money being short, while the market tanks, I am taking my neighbors market losses and using it to buy myself stupid shit— like a new coat or pair of alligator shoes.
Silly shit.
Just today, I saw my neighbor, Steve, and asked him: “Hey Steve, how’s the market?”
He replied: “Oh man it’s tough. My 401k is down like 10%, since mid-December.”
Then it hit me, like the nuclear bomb must have hit Einstein.
If the market continues to trade lower, “The Fly” can markedly increase his net worth, to the detriment of his fucking neighbors!
A wonderful plan and vision, indeed.
I will use this new energy to my advantage and “sack” my neighbor “Steve’s” bullshit 401k plan, covertly.
God willing, the “Great Depression part II” will afflict the markets, making “The Fly” the only rich guy on his block, which will endow him with enough coin to buy every house on his fucking block. With the new property, I’m sure he (“The Fly”) intends to convert them into high end arcades, fake haunted houses or some shit like that.
Developing…
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“fake haunted houses…”
lol
“Hey Steve, how’s the market?â€
Goddammit now thats funny!
Fuck Steve and their bullshit 401k accounts, this is all out war! I am loving every day of it. After listening to the one that is fly I got short and am happy while others shit themselves. Hopefully the market will go to zero.
Perhaps you should buy some of the houses and rent them to “low income” families, you know, to help the poor.
-DT
“being short the market” and “Great Depression part II†– defined by short INP. The “Great Indian Bubble/Boom” is very much worth a Hydrogen Bomb – effectively resulting in “Steve”‘s 401k go down by another 20%
The Fly, and iBankCoin readers, will no doubt have a terrific ’08.
Meanwhile, others will endure a fiery tempest, not unlike the one that scorched the flesh of a certain ‘Chairman and CEO’ of a certain ‘Mortgage Lending Institution’.
Here is a nice little stat for the Bears:
If you sold short $1,000 dollars worth of stock on January 1802, you would owe approximately $793,625,000. Just food for thought guys…. food for thought…
In other news, I’m officially starting the “Fly was so much cooler as a Bull” campaign. Anybody care to join?
This lovely story reminds me of a true one. To wit, dimwits:
A guy I worked with in the late 80’s struck off on his own & set up his own hedge fund. After 10 stellar years he made a big investment in Tyco of Dennis Kozlowski (sic?) fame & ill repute. Needless to say, he lost a fortune because of that mans chicanery.
However, all was not lost & when the opportunity arose, he struck a note of sweet revenge by buying Kozlowski’s foreclosed Manhattan apartment, with artwork & furnishings, for the bargain price of $25 million. I believe Dennis paid about $40-50 mill for the whole shebang.
True story.
Now that my friends is how things are done on Wall Streets street of dreams & suite revenge.
The Fly’s migration to the Dark Side is now complete.
PRSI- your nick sounds a lot like “pussy.” No offense.
FLY is making money. It is not about being cool, or likeable.
You want to make money? If so, then dispense with “sold short in 1603” bullshit and begin to realize that the shit that is going on is no joke. This is not the time to be throwing money at the market if you are not absolutely confident that you can win during the death tape and volatility. If you are worried about holding a short for 198 years, then you probably shouldn’t be shorting.
For what its worth, I like Fly when he is making money. When he’s not, he gets to be a whiny, introspective little bitch.
Sounds like 2008 will be the year of the Fly. Further, after the election of a new President (assuming its Hillary,Obama or McCain) Fly will have an increasing number of illegals to do his yard work.
PRSI,
If someone had $1000 back then, they could probably buy the Spanish Armada or some shit.
So your hypothetical ‘went short with 3 shiny rocks before the wheel was invented’ nonsence is irrelevant.
Wood- your nick sounds really “gay.” No offense.
About the “Fly” comment, just mentioning I liked him being bullish. Now I feel like the only one swimming against the current… sniff sniff…
About the “short” comment, just trying to give the age old “buying and holding stocks will make you filthy rich in the long run” saying a sarcastic spin.
I’m not here to make enemies man. Just want to see you guys bank a shitload of coin.
As our good old friend Tony would say, “Take it eazy meng… your gonna get a hart attack”
Fly- Is nothing on Sale? HPQ,WAG,AXP,INTC,CSCO,COH,AEO,SNDK
MR. ROM anybody?
Yeah, my wife thanks yours for the new mink coat, too.
Keep holding that RIMM.
Fly – I call this “Relative Wealth” or “My Boot on Your Neck Index.” I am getting wealthier at an ever-increasing rate, effectively pressing my boot into the neck of the common man, widening the have/have not divide.
Moreover, I take perverse satisfaction knowing that my “competition” thinks he is wealthier than me, due to his “consumption,” “mortgage,” and “depreciating assets” like cars.
I laugh, not chuckle, as I bank huge coin while living a seemingly blue collar lifestyle.
PRSI- my apologies. I guess I flew off the handle there…I thought you were trying to say that being short was wrong.
Hey, if you can make money going against the current, then more power to you.
For what its worth, I like Fly when he is making money. When he’s not, he gets to be a whiny, introspective little bitch.
Yeah, tomorrow he’s going to be cranky enough about Barack losing tonight already.
Wait til that RIMM licks $98 again. If he doesn’t get out then, well, you can’t say we didn’t warn little bro’ right?
BOOMER- you’ve hit the nail on the head.
You don’t get rich by spending a bunch of money on ridiculous shit.
Keep in mind, 71 Les Pauls aren’t ridiculous.
I laugh, not chuckle, as I bank huge coin while living a seemingly blue collar lifestyle.
Jeez, you gotta stop listening to that asshat Dave “better than I deserve” Ramsey.
No you get rich by shorting bloated pigs about to pop.
And buying the precious.
(oh yeah, and banking large fees, that too)
hahahahahhahaha
I dont like Dave Ramsey, although a friend works for him and says he;s a super guy. His advice is pedestrian. Mine is Italian Grandmother’s advice. G-ma Roma had a way of kicking ass – even shaking tuna cans for water slosh “not enough tuna in this one”
Shed – You should see my Gretsch 6120! And martin…and Dobro…and Tele…and and and.
Very nice.
I don’t play enough recently. I’m getting the itch to write again. We’ll see. I actually want to pick up a praxaxe and start practicing my banjo rolls. I would love to be able to rip up some Scruggs style.
Hey Boomer, you don’t know Nelda there in N’ville, do you?
Holy crap, I’m listening to the Hildabeast’s victory speech right now in NH, and I’m struggling to hold back a “puke in my mouth.”
Who the fluck can listen to this woman for more than twelve seconds?
And yikes! She’s wearing that Madame Of China Mandarin frock thing!
No, no Nelda
I cant stand Billary.
Could Hillary be top ticking Chinese SOlar Burritos with that chinaman frock?
Holy shit. Paul trounced Thompson and received 8% to Guilianni’s 9%. At least with 80% of the votes tallied.
Fuck mostly everyone on this thread.
Wow, politics discussion. So interesting…
Could this be the first thread of 08 to get 100 comments?
Fuck mostly everyone on this thread.
(Wow, really pissed that the Hildabeast beat out his boy, Barack Hussein)
(Fly contemplating “throwing his weight” behind the Ambulance Chaser in a last ditch attempt to “derail” the Hildabeast)
But this may just all be “affect.”
i like obama
Politics is for little wanna be Caesars.
I don’t like Gov’t.
“The Fly” does not vote.
“If you choose not to decide, you still have made a choice.”
Sorry for the cheesy Rush quote. I’m on my second bottle of vino.
Yeah, like you don’t wanna be Caeser?
I wanna be AT Caeser’s myself, banking coin off rubes at hold ’em.
No one likes gov’t. All the more reason not to let asshats expand it.
(sheesh!)
Boom — superficially, I like Obama and his cute little fambly.
Lift up one inch of turf, however, and the socialist stench is quite overwhelming.
That said, I’ll take him over the other two jugheads in an Iowan flash.
What’s up with this “Shep” guy on Fox News?
Has no one told him that male facial surgery is “beyond gay?”
Boom — I drank vino with KC guys tonight.
Salt of the earth, guys from KC.
Boomer,
Obama’s middle name is ‘Mohammed’.
Prediction: goat meat will be in vogue if he is elected president.
Why are you watching Fox? He looks like ET with a bigger head.
KC has good BBQ
I thought his middle name was Flava.
and huge clock necklaces and pacifiers will in fashion.
but Public Enemy will never get the commercial success it deserves.
Odd, no?
Watch the Banks’ earnings next week. The market will have a tough time rebounding significantly until after the biggies lift their skirt.
this qtr estimate / last year actual
Citigroup (-0.88) 1.03
Washington Mutual (-1.20) 1.10
Merrill Lynch (-4.57) 2.41
Bank of America 0.21 1.19
Wachovia 0.32 1.19
Wells Fargo 0.42 0.64
JPMorgan Chase 0.96 1.09
JPM will post the largest downward suprise..
http://www.bloomberg.com/apps/news?pid=20601087&sid=aX6T4uH5WNFQ&refer=home
Politics is for asshats.
Sierra,
Don’t you think your info is already discounted into the market?
Funky! Chunky! Where’s my flava?
My friends, the bottom will be in place this week. If we are not there now, we are very close. All this bearish talk is a reiteration of what the asshats on financial TV and the $69/yr newsletter writers are saying.
It will be the bears turn to get de-balled and de-clawed.
Balak Mohammed Frava Frave Obama is his furr regar name, I berieve.
No I think this all continues to implode on itself over the next 2 years. The market is not even close to pricing in this long drawn out scenario. Buy gold on the next correction, is all I can say. Silver as well. Dollar will hit .52 on the index circa 2010-2011.
“In a recent Securities and Exchange Commission filing, Fannie noted that it backs $2.6 trillion worth of single-family home loans. Underneath this pile of debt, the company has only $42 billion of capital. If the value of mortgages backing Fannie’s debt falls a few percentage points, the company’s capital could be wiped out. And because of the implicit government guarantee backing Fannie’s debt, American taxpayers would be on the hook for whatever debt Fannie couldn’t cover.”
As of right now, the market is looking extremely oversold. % of stock above 200 day PMA vs. NYSE is showing possible positive breadth divergence which could lead to a significant bounce within 2-4 trading days. I would start nibbling on further weakness hoping for a large bounce late this week into next week. However, the financials are still exposed to headline risk next week.
Dudes!
His middle name is not “Mo-hammed” or even “Mu-hamed.”
It’s worse.
It’s “Hussein.”
Look for Chillery to begin addressing him thusly in debates…
Sierra, why don’t you join the Peanut Gallery. Then, you can write, but you don’t have to maintain a stupid blog. C’mon, do it!
Any thoughts on the Egyptian Goddess, ISIS?
Isis Hits 6-Year High on Genzyme Deal
AP
Posted: 2008-01-08 19:34:18
NEW YORK (AP) – Shares of Isis Pharmaceuticals Inc. soared to a new
six-year high Tuesday, after the biopharmaceutical company and Genzyme
Corp. announced a co-development deal potentially worth more than $1.9
billion involving late-stage cholesterol treatment mipomersen.
Biotechnology company Genzyme said late Monday it agreed to develop and
market Isis Pharmaceuticals’ mipomersen. As part of the deal,
Cambridge, Mass.-based Genzyme will make an initial payment of $325
million to Isis.
In a note to investors, Wachovia Capital Markets analyst Aaron Reames
said Isis’ decision to partner with Genzyme was a good choice for a
host of reasons, and he called the partnership a “best-in-class deal
with terms exceeding expectations.”
Reames noted that Genzyme has extensive global clinical, regulatory,
sales and marketing expertise.
In addition, the analyst expects even more upside potential to the
stock, driven by its Ibis T5000, a system being developed to identify
infectious organisms.
Reames said Isis is backed by several value drivers, and highlighted
unrecognized value in the company’s pipeline, particularly with the
T5000. He values the pipeline at $500 million.
“The mipomersen partnership is a significant advance beyond these
earlier-stage collaborations as mipomersen was the most advanced
unpartnered pipeline compound and demonstrates Isis’ ability to obtain
a significant global partnership that we feel provides Isis
stakeholders with excellent short-term and long-term shareholder
value,” said Reames.
The analyst pegged a valuation range of $30 to $34 on shares and
reiterated an “Outperform” rating.
In a note to clients, Leerink Swann & Co. analyst Joseph Schwartz
maintained an “Outperform” rating and raised his price target to $31
per share from $20.
Shares of Carlsbad, Calif.-based Isis jumped $4, or 27.4 percent, to
$18.58 Tuesday, having hit a high of $20.15 earlier in the day.
Genzyme shares gained 31 cents to $77.41.
Fuck voting.
Prepare for Martial Law.
I’ll be safe on my nuclear sub. Haha. You fuckers really thought I rode around in a sled?
Pre-election,
the ruling party tries to paint the rosiest picture possible.
the other party tries to paint the bleakest picture possible.
Post-election, whoever wins will want to clean every possible skeleton out of every closet asap, so they can say, all this shit is not my fault.
A lot a skeletons accumulate in 8 yrs. We ain’t seen nothin’ yet.
I agree with Fly on the (not)voting thing. Anyone with the skills to get elected, does not have the skills to govern effectively.
The system is designed to prevent a revolution every 4 years, not get the best person in the job.
(I do vote for the President though, but no one I have ever voted for was ever elected – so don’t blame me.
A benevolent dictatorship is the most effective form of government, but they’re hard to find and next to impossible to replace.
Do what the Fly does – don’t worry about who is in the white house, just bank coin by reacting to whatever the jackass in the whitehouse does.
PS compliments to your webmaster – he knows his way around the bit bucket. Lots of fun stuff.
Woody,
I miss the old days. If “Fly” will let me join, then maybe I will.
Sierra:
Good call on stagflation. I was wrong.
The Peanut Gallery does not require approval. It is open to all.
I see you already signed up.
Just login and post.
I envision Sierra Mist catapulting to the top of the PG, effectively securing the 2nd allocated tab or blog—given by the Godly folks at IBC.
Park the politics, fuckfags.
Gold and oil getting punched in the pre-market. Too many bulls?
Trading today may call for George Costanza type moves. Long financials,brokers,airlines,rails,China emerging markets-short oil,gold, and all commodity stocks.
Zombie: Another Hildabeast fan.
What about ISIS?
Anyone?
Anyone?
Buhler?
Anyone get a look at yesterday’s Cube chart? From about 2:30 on, in 15 minute increments?
Holy shasta does that look bad.
What’s that?
That crashing sound you just heard?
Old Man Blackberry being tossed down the top floor “up” escalator at Roosevelt Field Mall.
…LED crystal display goop splashed all the way from from “Urban Outfitters” to “Chess for Men.”