The most excellent financial contrarian, Bill Fleckenstein, and his “Fleckisms.” (”Bubblevision” has always been my favorite.) :
- Arm-Waving: When people take fluffy, subjective information and treat it as fact, to justfy a viewpoint . . . that they want to justify.
- Bubbleonians: Individuals who believe we are in a perpetual bull market. Alternatively called “U4ians.”
- Bubblevision: CNBC, Mecca for bubbleonians near and far.
- Casino: Another name for the stock market, at least while the dipsters and bubbleonians are still in force.
- Colin and Joanie: Colin Negrych and Joanie McCullogh, very knowledgeable friends who watch the markets closely.
- Dead fish: Also known as cheerleaders. Sell-side analysts whose idea of research is to talk to company management before issuing a “buy” rating (or to downgrade a stock to “accumulate” after it implodes).
- Dipsters: Individuals who mindlessly buy on dips. See also “Bubbleonians.”
- Easy Al: Fed chairman Alan Greenspan. Also known as “Al.com.”
- Flopping and chopping: Up-and-down motion that essentially goes nowhere.
- Jam job: When the powers that be force prices absurdly higher in a short space of time.
- Kinky stocks: High-flying tech companies with stratospheric valuations.
- Live fish: Uncorrupted analysts who do their homework. The species is rare, borders on extinction and is exemplified by Fred Hickey, the king salmon.
- OPM: Other People’s Money.
- People’s Momentum Daily: Investor’s Business Daily.
- Pinball Alley: See “Casino.”
- Ramp job: See “Jam job.”
- Shrimp fest: A gathering of government leaders, i.e., IMF meetings, G8 meetings, etc.
- Sox: The Philadelphia Semiconductor Index, a weighted index of 16 U.S. companies involved in the semiconductor industry. A favorite of the dipsters and bubbleonians.
- Tape painting: See “Jam job.”
- U4ians: See “Bubbleonians.”
