Hey, Randall Lane, You Sick Twisted Son Of A Bitch, Remember Me?
Photo Of Randall Lane By Chester Higgins Jr./The New York TimesNote: Aside from the last paragraph this post is written following the journalistic style of Randall Lane—treating assumptions and circumstantial evidence as fact. It’s cruel, amateurish and immature—oh yes, I know—but that basically sums this guy up so in order to help him grow up, he must be given a taste of his own medicine.
To those who don’t care and just want stock picks—this is also a great lesson on how to pounce when your enemy is wounded, no different than the vultures who took out Bear or LTCM.
Last time Randall Lane, editor-in-chief of Traitor Monthly was in Page Six, he was attacking a small-time trader (me) because his magazine staff fumbled, disinviting me from their little party at the last minute after we’d been discussing my covering the event for MSN Money for days.
Clearly in the wrong, this balding bastard was forced to go on the offensive, charging my hedge fund’s losses were the result of my publicity hounding rather than bothering to research the matter like a responsible journalist might do (turning his nose up at the complimentary book I’d sent him weeks before that explained the situation in detail) and running his arrogant mouth off to the press, confident of favorable treatment due to his connected Forbes wife.
Now, just a few months later, the tables have turned as Lane himself was fired as publisher of the Player’s magazine by Lenny “Nails” Dykstra who called Randy boy out on what he’s becoming known for, trash talking when he doesn’t get his way: “If you want to fight, take me on. Don’t go behind my back and bad mouth me,” said Dykstra. “He thinks I’m going to buckle,” said Dykstra, referring to Doubledown President Randall Lane. “I don’t buckle - I go to war.”
This time—in what commentators have hailed as a landmark event for Page Six in terms of accuracy–not even Lane’s old lady could save him from Page Six judging him to be their #1 loser last week.
The fight concerns expensive parties, overspending and missed payments, which is nothing new to stupendously shallow Traitor Monthly—backed by several Traitor haters who came out to express themselves in full force in THIS article. Sorry Traitor, but you didn’t listen to me last October when I warned you about the dangers of your business model:
Now, as you say, my fund’s performance has been ‘laughably horrid’ and I am wiser for it. While unfortunate, these losses have made me an infinitely better person and I am forever changed. Instead of curling up in a shell as you apparently believe would be appropriate, I intend on showcasing my losses, so that others may learn from my mistakes and not be condemned to repeat them. To help people truly learn about all the risks and rewards associated with financial speculation, I will use my self-promotional skills to the fullest, cutting through the superficial and ultimately harmful lifestyle you so proudly promote.
Randall, as much as I used to want to be a part of your trader community, I’ve now experienced how you treat people when they are down—it’s disgusting. No, I’ve outgrown your juvenile ways. Unlike your frivolous magazine, my book celebrates trading not just for its ability to create great wealth, but also for its potential to teach great lessons—lessons you seemingly look down upon.
Apparently, you’ve forgotten that traders, especially those of us under the age of 30, are works in progress. And when you turn your back on a fellow trader, you turn your back on trading itself. And when you turn on trading, you no longer are worthy of running a magazine called ‘Trader Monthly.’ Perhaps you should change the title to a more fitting description, ‘Traitor Monthly.
Sorry to say, I was too emotional then as I somehow forgot to include this gem of a quote, “The ideal reader, according to editor-in-chief Randall Lane, “is 29 years old, making $400,000 a year, and spending all of it.” (Wow)
So Randy, I know times are tough for you right now—no doubt bringing back memories of when your first magazine, P.O.V., went out of business—but unlike you I’m willing to give second chances to those who make mistakes. After all, we’re only human. If you can show some remorse for your actions, I’ll consider taking you on at my publishing company, BullShip Press, LLC—as an unpaid intern of course—and under my guidance, I think we’ll be able to put you on a more righteous path—no promises, there’s a whole lotta work to be done, but if you’re willing to change, I’m willing to help you get better. Contact me anytime.
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1Davey(TIMBUCKS: $104)
May 7th, 2008 at 12:03 pm
Beautiful fade here on LGDI
2Davey(TIMBUCKS: $104)
May 7th, 2008 at 12:10 pm
Out 1500 LGDI here 4.20 from 4.39 nice 300ish profit.
3Zykosis(TIMBUCKS: $8)
May 7th, 2008 at 12:15 pm
…yea davey, i think you repeated yourself
4Rambone
May 7th, 2008 at 12:18 pm
Follow up question to one that was answered. When you reserve hard to borrow shares to short at TOS are you putting in a limit order to short them when you reserve or is the order just open at any price till you choose to execute it. Thanks.
5bdog9seclx(TIMBUCKS: $18)
May 7th, 2008 at 12:19 pm
Wow Davey I wonder how you got All those Tim Bucks
6JensGould(TIMBUCKS: $34)
May 7th, 2008 at 12:19 pm
Speaking of bullshit the 100k share arca bid on lgdi was removed when the price came too close to it. haha. Tim when did all this shit go down with traitor monthly?
7Davey(TIMBUCKS: $104)
May 7th, 2008 at 12:19 pm
It was lonely in here…LOL, I’m trying to get people to move the comments over to the new post. It’s annoying to have to check two posts for updated comments.
8JensGould(TIMBUCKS: $34)
May 7th, 2008 at 12:21 pm
Nice work davey but I don’t think its over yet!
9Davey(TIMBUCKS: $104)
May 7th, 2008 at 12:22 pm
Get off my nuts bdog, at least I’m one of the honest ones here, I told my entry and exit real time unlike a lot of people who seem to never have a bad trade and always post their exits after the fact.
10timothysykes
May 7th, 2008 at 12:26 pm
just gotta post ore to get timbucks…signed up a big sponsor today wait til we announce what they’re gonna offer as a timbucks prize!
11be-the-ball(TIMBUCKS: $21)
May 7th, 2008 at 12:30 pm
Boring day today. Not a lot of action out there
12Zykosis(TIMBUCKS: $8)
May 7th, 2008 at 12:31 pm
i hope it doesnt turn into a spam fest in the comments and forums to ge TIMbucks :)
13thebarcast
May 7th, 2008 at 12:33 pm
Tim, how come you only have 4 timbucks? I’d imagine as many posts you reply to that you’d be in the higher parts of the rankings.
14YngvaiMalmsteve
May 7th, 2008 at 12:34 pm
Well I’m glad there aren’t very many hot plays today. I have to sit out today because I have no buying power. Damn SEC!!!
15timothysykes
May 7th, 2008 at 12:38 pm
i’ll delete spam posts–soon we’ll have the options of members rewarding others for good picks/ helpful comments. i dont get any timbucks, our guy in india is just working out all the bugs, this complex shit
yes, we’re not trading RIMM GOOG BIDU here, plays arent gonna be around every day–the past 2 have yielded great gains in LGDI and VRML…and I thin there’s much more downside for both, although VRML is looking rather perfect while LGDI is not
16Dan_O(TIMBUCKS: $46)
May 7th, 2008 at 12:38 pm
Last night someone has like 42 billion (not kidding) Timbucks, how did that happen?
17bdog9seclx(TIMBUCKS: $18)
May 7th, 2008 at 12:40 pm
just messing with u davey i want timbucks too
18JensGould(TIMBUCKS: $34)
May 7th, 2008 at 12:43 pm
gimme gimme gimme
19Davey(TIMBUCKS: $104)
May 7th, 2008 at 12:46 pm
It’s cool bdog, I’m just playing around too. I’m just trying to be responsible, sometimes people follow a person’s trade and I’m just throwing out my exit.
JensGould, it might go down more, but I tried covering in the teens and it just kept spiking when I tried to place my order so I didn’t take any chances and was lucky to get filled in the .20s
20getshorty(TIMBUCKS: $2)
May 7th, 2008 at 12:49 pm
HEY
Is MMR Going back up ???
Don’t want to get squeezed Here.
Watching your dvd, seeing supernovas on disc 2 now.
Very good so farr, lets see if it makes me moneeeyy !!!
21bdog9seclx(TIMBUCKS: $18)
May 7th, 2008 at 12:52 pm
SUNV what a flat liner
22bdog9seclx(TIMBUCKS: $18)
May 7th, 2008 at 12:55 pm
Lol VRML used to be a $130 dollar stock look what it has been withered down too.
23Zykosis(TIMBUCKS: $8)
May 7th, 2008 at 12:55 pm
i think what is more valuable than stating a random entry/exit price is what a trader is thinking as he enters/exits the trade. anybody can throw out prices and say “lets see what happens…”
24UFgemini(TIMBUCKS: $8)
May 7th, 2008 at 12:59 pm
Does anyone know how to add a picture in the top right of each comment?
25Davey(TIMBUCKS: $104)
May 7th, 2008 at 1:00 pm
Zykosis, Read the comments on the last post…Tim asked me why I was shorting LGDI and I responded. I explained it there. I said it wasn’t an ideal trade, and that I entered on the crack of 4.40 which it never got up over after I entered at 4.39
26Goose(TIMBUCKS: $28)
May 7th, 2008 at 1:02 pm
QI - what do you guys think? A possible short? Not Tim’s play for sure.. it’s a solar stock.
27Davey(TIMBUCKS: $104)
May 7th, 2008 at 1:02 pm
And I also stated that I was having trouble covering my position of 1500 at 4.24, and then later in the 4.14-4.19 range which is why I covered at 4.20
28JensGould(TIMBUCKS: $34)
May 7th, 2008 at 1:02 pm
Solid cup w/ handle breakout on ent
29Zykosis(TIMBUCKS: $8)
May 7th, 2008 at 1:02 pm
yea i didnt say you specifically. that’s just what i noticed in the last few posts of Tim’s with 100+ comments.
30UFgemini(TIMBUCKS: $8)
May 7th, 2008 at 1:03 pm
Anybody have any luck with FEED?…talk about volatile, its all over the place, i love it.
31Davey(TIMBUCKS: $104)
May 7th, 2008 at 1:05 pm
Ok well, lets not turn this into a yahoo board or anything, everyone here seems cool, lets just focus on learning and making money. I’m out of buying power for the day so I’m gonna hit up some GTA4 before studying for my last final.
32timothysykes
May 7th, 2008 at 1:15 pm
yah def. no useless yahoo board or elitrader chatter here…ever!
are the tabs on the main page working for everybody now? if not can u say what browser you’re on
33be-the-ball(TIMBUCKS: $21)
May 7th, 2008 at 1:17 pm
NLS looks good to me if it breaks 5.12 to 5.15
34Dan_O(TIMBUCKS: $46)
May 7th, 2008 at 1:17 pm
UFgemini “Does anyone know how to add a picture in the top right of each comment?”
Tim linked to it before:
http://en.gravatar.com/
35Millionairemind(TIMBUCKS: $17)
May 7th, 2008 at 1:31 pm
It is so much fun to be here than at my job! I had a big hit on IAR, bought at $4.55 and sold at $5.30, very quick $0.75 profit today! It was mentioned on Tim’s previous article in the morning (though Tim stated “Ignore it,”), investorslive, and Brewster bought up IAR this morning.
36YngvaiMalmsteve
May 7th, 2008 at 1:34 pm
Millionairemind, I think Tim said to ignore IAR as a short opportunity because you don’t short earnings breakouts. There’s nothing wrong with going long on an earnings breakout, though, as long as you take your profits quick…I’ve noticed earnings breakouts tend to fizzle quick.
37Dan_O(TIMBUCKS: $46)
May 7th, 2008 at 1:35 pm
Goose, other than not being up enough QI does look like a TIM play.
It’s not a solar company though; QI is a chip manufacturer (SDRAM). Times are tough for SDRAM manufacturers apparently because they are posting HUGE losses (-2.11/share missing estimates of -1.67 per share).
It qualifies because it is up on a fluff press release that hypes that they are purchasing wafer media from LDK Solar (a competitor), and that they are partnering with another company to get into the solar market.
Looks like a desperation move to me.
38timothysykes
May 7th, 2008 at 1:38 pm
yahh 99% of my posts come from ym point of view as a short sellers, buying strong earnings fine, shorting those is tough if not impossible
39Millionairemind(TIMBUCKS: $17)
May 7th, 2008 at 1:43 pm
Thanks YngvaiMalmsteve and Tim for further explanation. I am dweeb sometimes. In any case, like you guys said, we all are waiting for opportunities wheather going long or short. It was a GOOOOOD PROFIT.