IBGYBG (or I.B.G.-Y.B.G.), an acronym for “I’ll be gone, you’ll be gone”, became a popular saying among the hedge-fund managers who perpetrated the banking crisis of 2007-08. It refers to the many shitty deals and scams perpetrated by Wall Street on unsuspecting investors. Specifically, it means that the wheeler-dealers involved in a fraud plan to be on their yachts anchored off some private tropical island sipping cocktails before the shit hits the fan. That, or they’ll be dead.
Of course, many of the fraudsters were not gone when the shit hit the fan. Some obvious drawbacks to the IBGYBG mindset include:
- lack of timing
- the rampant greed that makes investors stay in the market “one more day” because they know it’ll turn around
- the rampant narcissism that makes investors think that they are smarter than the system
- the fact that nobody has yet invented a working crystal ball