John Burbank Shuts Flagship Hedge Fund, Plans Launch Of Cryptocurrency Unit

After months of plunging asset, John Burbank has finally called it a day and in a letter to investors announced he is shuttering his flagship hedge fund, but not before leaving a small hail mary loophole: as his last act, Burbank is hoping to launch a fund that invests in, drumroll: cryptocurrencies.

Stocks Pop After Cornyn Suggests Tax Bill Deal "Possible" Today

Despite numerous headlines indicating a tax bill deal early next week, Republican Senator John Cornyn just told media that there "may be a tentative tax bill deal today." Algos liked the news and immediately bid stocks higher (despite no knowledge of what is in the 'deal').

Battle For Bama: Here's What To Watch For As Alabama Heads To The Polls

After weeks of intense media focus on an election that should have been a foregone conclusion, we are now just a few hours away from finding out whether Republicans made their first a serious special election blunder of 2017 by choosing to support a highly controversial candidate who was potentially doomed from the moment sexual assault allegations against him first surfaced last month.

Frontrunning: December 12

  • Parties Make Final Push Ahead of Dramatic Alabama Senate Race (WSJ)
  • Oil hits two-and-a-half year high on pipeline shutdown, stocks take breather (Reuters)
  • Alabama drama nears an explosive end (The Hill)
  • Moore, Jones Expose Rural-Urban Divide That Defines Alabama Race (BBG)
  • The Force Behind Bitcoin’s Meteoric Rise: Millions of Asian Investors (WSJ)