Billionaire Joe Lewis still long BSC @ 110?

Discussion in 'Stocks' started by turkeyneck, Mar 11, 2008.

  1. Ever notice how these billionaire investors make the worst investments? Makes you wonder how they became so rich in the first place. Boone pickens shorted oil at 100 for example.
  2. Being more right than wrong most of the time? Or they are properly hedged under the table?
  3. nolajy


    Geez.. T.B.P. did not short oil at 100! Do you really think they play poker and show their cards.. he said that to get a bunch of idiots short oil so he couild buy it and squeeze the market .. hence whats going on now.. so he is making money as it goes up.. then he will completely reverse .. i.e. sell longs and open new shorts.. to drive the market lower.. i ahd to explain because of the sheer idiocy of the T.B.P. post.. seriously don't put another cent into any trade until you are ready.. if you think for a second he sold at 100!!!!!
  4. Fast money's karen finderman is another example of a wealthy influential individual who makes horrible trades and recommendations. She has been bullish on retail for all of 2007, which is the second worse sector next to financials. She was long on CROX at 33 a month ago. Now it is at 18. The list goes on.

    Some other high profile millionaire nitwit who was on CNBC took at out huge stake of Circut City at $6 or so (now trades below $4)
  5. He said he was short on CNBC when the price was around 100.

    Even the greatest traders in world have losing trades.

    Do you think TBP makes money on every oil trade me makes? He would be richer than Warren Buffet if he could do that.
  6. nolajy


    Actually.. just how rich is warren buffet.. liquid I mean... he cannot sell all of his stock in a few days and be liquid.. TBP can!.TBP most likely would be just as rich if not richer if he could trade more size in the oil markets.. problem is.. it's like any casino.. believe it or not there is a house limit ..even on ice..even on nymex.. etc.. yes I am sure he is wrong at times.. but the market is not big enough for him to trade enough spreads to make the posted numbers of buffet etc. Take Joh Arnold for instance.. was an analyst pulling down 40K a year at enron at first.. 32 made his first billion trading energy spreads in the futures and options.. the best part about futures trading is it is LIQUID.. SLAP YOU IN THE FACE CASH.. not my quote read that somewhere..
    my point being that arnold and TBP are the biggest players in Natty and they know what they are doing.. but they cannot do anymore than they are already doing.. look what happened to the MF global broker in wheat.. he did 20,000 contracts and got slaughtered.. mainly due to slippage on the exit.. the hunts tried it and got slapped with cornering.. The futures markets aren't nearly as large as the stock market

    BEAR STEARNS buyer

  7. nolajy


    Selling put options is a great way to get into a stock at a lower price.. he would be down a much greater amount had he just bought the stock outright .. instead he sold options .. and bought the stock at a lower price.. he was going to buy anyway.. so why not try and get some premium and use that to buy the stock .. if it indeed had gone higher.. he got a much better price by using the options

    p.s. who writes this crap on seeking alpha? The trade isn't over yet.. and he joe got a better price by selling puts and getting exercised? DUH!!!!!!!!!!!!!!!!!!!!!!!

    I cannot believe in this day and age that people subscribe and truly believe all the bs on tv and the internet.. Finerman may have been long 1 share of CROC and she could have been long 5,000 puts and she still did not lie.. wake up people and smell your money burning out of your accounts. I am only trying to help. FastMoney, Cramer, CNBC, seekign alpha, seeking budha, seeking what millionaires do? C'mon get real and get out there and think about whats really going on in the world, in our country, on your street, in your mailbox, at your job.. what is your reality.. what is your forecast..
    I like lumber down here... I like MF here, I like CSCO here, i like FRNT here.. I like the US dollar here as well ..
    quote me on that one.. check the dollar in a year.. check lumber in a year.. check FRNT and MF, CSCO in a year.. I bet and bet big they are higher.

    csco 23.99
    FRNT 2.55
    MF 17.75
    us dollar 73.34
    LUMBER 194.8 a board foot
    lumber stock LPX = 9.74
  8. he was short and he got out. keep up with the news.
  9. Professional investors lose small when they lose. Amateur investors lose big when they lose.
    #10     Mar 11, 2008