2008 was the year of the asshat.
There were so many dicks in 2008, one would think the world was one big dick factory, incidentally, chock-ful of asshats.
There was the likes of Dick Bove, and his insane “buy of a lifetime” call on C, above $20. Let’s not forget he emphatically said LEH would “make it,” just prior to its demise. There was the CEO of Profunds, Mike Sapir, and his fucking lunatic set of 200% inverse/upside IRON LOTUS etf’s, which are kindly designed so that EVERYONE loses.
Fucking asshats!
Let’s not forget Paulson, Kass, Cramer of TSCM, Yang of YHOO, “Dr. Eli Harari” of SNDK, Feder of TTWO, Bernie Madoff, Chris Cox, Spitzer, Fuld of LEH, Ken “hands” Fisher etc. No kidding, I could go on and on.
However, in my humble, yet potent opinion, only one man deserves the Asshat of the Year Award for 2008. Without further adieu, let me introduce:
Bill Miller, Retarded Money Manager, Legg Mason
At one time Bill was a good investor. Fuck all of the accolades that erroneously labeled him a “great investor.” For the love of small microchips and green trees, the market was going up, when he was sucking its dick. However, in 2008, the stock Gods gave Bill a steel pipe to the mouth, taxing his Legg Mason flagship fund by more than 56%, according to the most recent data.
Hell, Bill’s whole family of funds is down in the deep 30-40% range, all because he (Bill) is a large sucker of bank cock, not to be confused with the cesspool in Thailand.
His portfolio is littered with all sorts of stupid shit, from AMZN to C. However, Bill nailed down the Asshat Award for one reason and one reason only: He fucking doubled down on his Freddie Mac position, just prior to it being seized by the government.
Let me clarify. If you recall, at the time Bill “averaged down” in FRE, it was almost a foregone conclusion that the Gov’t was going to takeover FNM/FRE, in order to ‘save the world’ part 20. For the love of nuclear bombs and hydrogen fuel, some of the “smart managers” stepped in on FRE bonds or preferred. But Bill, in his infinite asshattishness, stepped in and bought more lowly common stock.
Asshat!
Despite being fired by pension funds and crushing the 401k plans of millions, Legg Mason is still backing Bill. They must “enjoy” his investment performance, in some sick, distorted, mentally ill manner.
Even though Bill is an extreme asshat, with very little investment skill, CNBC was proud to announce that he called another bottom in the banks, just a few weeks ago.
Prepare for another “legg lower,” if I may be so bold. Get it? HAR-HAR-HAR.
Bottom line: If I am correct about Bill Miller, which I most certainly am, LM is in for a very arduous 2009.
Nonetheless, congrats to Bill Miller for winning the Asshat of the Year Award for 2008; he certainly earned it!
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Fucking asshat.
Wait it out?
That makes “The Fly” the asshat.
Asshat!
I think everyone will be waiting out 2009. Prozac for everyone.
Gosh Darnit. This is unfair.
Joe the plumber, Tito the builder and Lara the hooker are struggling to pay bills and you go to watch a movie.
http://www.bloomberg.com/apps/news?pid=20601087&sid=adT53aLupWiY&refer=home
Fly, hope you get ass raped by gay oil workers on the way to the movies.
That’s not Orangezillo, it looks like George Hamilton or something. F@cktard alert!
Scum, of course its Hamilton.
This has been discussed ad nauseum. Laugh and move on.
Dan Marino’s tan on the body of an asshat.
The ‘hat got to be “oil to $300, I’m greener than a gourd” T. Bone Pickens.
I will be surprised/disappointed if Jim Cramer doesn’t win it for his ever increasing stupidity in 2008.
I think its that sheik dude that posed in front of the horses and camels…the one who doubled down in C. Hell, his oil woes are enough. To take down more C was stoopid. And he has camels. Need I say more?
4 Wood
Very cool Scum.
Who cares about AH of the Y?
I am walking about my manor, be-wigged and be-robed and wearing suede sandals with my own personal “fog machine servant” casting clouds before me with a portable gas powered fog machine…
BECAUSE THE NEW YORK GIANTS HAVE HOME FIELD ADVANTAGE THROUGHOUT THE PLAYOFFS MITHER FLICKAHS!!
And I’ve got season tix.
______
Aside: Titans – Giants Superbowl appears “back on!”
________
Jake – I have nothing to add except my fog machine operates when I open the back door and let the frigid outside in.
Good night sir.
That’s a GREAT pic !
Clinton…McCain…Greenspan et al…
All Smiles !!!
—————————————–
Little did they know what they had just UNLEASHED !!!
Monica just got threw blowing Bill.
updated.
Jake?
http://farm3.static.flickr.com/2128/2460781152_07cdb76a4d.jpg?v=0
zzzz boring, cmon man, writers block?
Great picture.What a fucking fat head.
Yep, can’t disagree with your Asshat of the Year pick.
Boomer, I like your pick Prnce Alewweed?, but he is certainly no Bill Miller.
other: Benacke’s teacher:
The actions “are on a completely different speed and scope than was attempted in Japan,” Fischer said. “If there’s a critical difference, it’s that.”
In other words, were doing the exact same thing that didn’t work in Japan. So instead of a lost decade, we get a lost score?
Well…while I was pulling for Plaxico…
(did I mention…the idiot SHOT his own damn self)
…it’s pretty hard to argue with the Bill Miller selection ! fwiw
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Cudos to “boca”…for the prediction. btw
.
Sucks to be him.
Bill embodies all of the asshats in one.
Bill is CNBC talking heads, idiots retail investors, idiot bullish bloggers, idiot asset managers all in one.
“Fly”…
Refresh my memory…
…did he SHOOT his own damn self ?
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Uhhh…NO !
He did not !!! fwiw
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Thanks Alf44. I was excited to guess correctly because I rarely win any contests. so YAY!
“boca”…you da MAN ! (as it were) 🙂
.
let me nominate comercial construction product of 2008.
poetry. hilarious. Right ON.
h
well what vodoo you do to make a box appear
hahaha Alf 🙂
the comments here are truly insane and hysterical.
2009 Predictions?What about those 2008 Predictions?Jump in that crude oil running time machine and enlighten us.
2009 prediction on 12/31
Behold!
he product of last year we all ate some of, more some tha#n other was brown and #25 its what your uber profitiable house or condo was made of, and what the construction shovels were made of, and what Madoff was madeof.. me the supermaterial of tomorrow from 1975..
http://www.youtube.com/watch?v=008BPUdQ1XA.
Odd…
I guess I had never realized how much Bill Miller looked like Warren Buffet’s retahded (sic), toothless younger brother.
__________
LM = Fortune Cookie?
Clubbed To Death – http://www.youtube.com/watch?v=Pt-NvcuDVBc
http://online.barrons.com/article/SB122973304853123077.html?mod=b_hps_9_0001_b_this_weeks_magazine_home_top&page=sp
Bill Miller … LoL … nice choice. What a fuckin’ Asshat!
Fly
Can readers protest the choice? There are equally deserving twits. I think it should have been a split choice. Dick Fuld- telling people his firm had strong capital base. The CEO and chairman of Bear Stearn who were both away when the ship went down.
I want to lodge a protest here.
http://www.livescience.com/strangenews/081215-parowan-prophet.html
good call on bill.
the FRE/FNM double-down was 1st tier asshattery.
In addition to Bill Miller’s insightful 2008 calls on…
…”Financials”…
———————
Let us not forget…
…Miller was ALSO buying the “Homies” throughout the “Housing Collapse” of 2008 !!!
Give that man an “AHOTY” !!!
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We need a Vegas odds board to begin looking for the 2009 Asshats … its never too late. Early nominees?? Vince Farrell? Cramer?? Fox Business News Channel?? Entire Citigroup Board because they will need another major bailout? Chinese melamine producers??
You nailed another one! Asshat indeed along with the other asshats that continue to support him!
http://www.telegraph.co.uk/news/newstopics/howaboutthat/3546934/California-man-found-in-foreclosed-house-with-cats-opossums-raccoon-and-mothers-skeleton.html
Bill Miller reacts to his surprise win.
Q4: Yep, that’s about the relationship between Bill Miller and his investors:
http://www.myconfinedspace.com/wp-content/uploads/2007/07/warranty.png
I made some fucktarded mistakes in 2008. But amidst all the asshattery of this year, I’d forgotten that even I didn’t buy FRE common after reading writing was on the wall that suggested strongly that bailouts are done to protect bondholders, not shareholders.
http://news.morningstar.com/newsnet/ViewNews.aspx?article=/DJ/200812031716DOWJONESDJONLINE000882_univ.xml
“His Legg Mason Value Trust (LMNVX), which outperformed the S&P 500 for 15 consecutive calendar years through the beginning of 2006, is down more than 59% this year.”
Fucking asshat needs to make over +100% just to break even.
Great pick. i never realized how bad Bill Miller was in 2008. now I have something to talk about at the club.
excellent choice, backed up by flawless skullfuckery
does that make LM one of your 2009 shorts of the year? maybe that too obvious …. NOT !
This asshat defends the winner of The Fly’s Asshat Choice Awards, 2008.
http://guzzothecontrarian.com/2008/12/12/in-defense-of-bill-miller/
And he’s getting more assets to manage?
Bill Miller, the Legg Mason Inc. money manager whose two funds have each lost more than half their value this year, will help run a third fund as the firm tries to reverse record outflows.
http://www.bloomberg.com/apps/news?pid=20601087&sid=avZFF5X_Edlc&refer=home
What really makes it bad is that LM Opportunity Trust allows him to short stocks and it’s down 50%. I can understand in a long only fund but how the hell is it possible in a fund that allows him to short?
http://www.leggmason.com/individualinvestors/documents/product_fact_card/LMOP-Fact_Card.pdf
If the trend is down then Miller is still an industry leader.
Scum bucket — good one! I almost spilled my coffee reading that.
BTW, we need an AHOTY statue or figure for the award, like the Oscar statue. Any ideas?
Well, if we’re comparing asshats, I think Mozillo wins the “asshat of the last 2 years” award over Miller.
-DT
http://www.breitbart.com/article.php?id=081221154025.lrwl34xi&show_article=1
Bennet Sedacca
08:40:00 AM
No positions in stocks mentioned.
Hedgers remain skeptical
I like to track the commercial, hedging accounts in the S&P futes complex.
Normally they buy dips and sell rallies, but this time is a bit different.
The commercial accounts are now record short Spooz. I net out the e-mini and ‘big contracts’ into ‘big contracts’. In the chart below you can see they keep shorting. And it’s not like they have tons of gains to hedge.
It is unusual behavior and makes me wonder if Santa Claus isn’t going to deliver a truck load of coal as the calendar turns.
Good pick.
Asshat of the last ten years could be Alan “Bubbles” Greenspan. Notice how his book tours stooped about six months ago?
The Japanese carmakers are in rebellion over the strength of the yen so much so that the BOJ was checking FX rates all day the moment the Yen showed strength.
This could be the beginning of monetization over there with the BOJ acting through unsterilized FX intervention.
For the record, I’m deeply saddened and very disappointed I wasn’t even mentioned as candidate worthy of consideration.
Being the mensch that I am, I will not lodge a complaint with the Asshat Commission and instead I will accept my “non-mention” with utmost dignity.
Sham-WOW!!
I would vote for Vince The ShamWow Guy as a major asshat.
Just set it and forget it.
Bernie M. is the Asshat of the Century
AHOTC
I wonder how long it’s gonna take for the current crude contract to get back down in the $30’s?
My Guess, Crude drops into the 30’s again before the new year.
jeff cooper is an asshat too with his intermediate bottom call on the markets and oil. Fucking idiot.