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Reggie Middleton's picture

One Day After Recommending the Veritaseum Leveraged Macro Trade Against Goldman's Earnings, 50% Profit!





Good thing Goldman didn't take me upon that leveraged macro trade yesterday. The GS short leg was up ~50% as I type this post. More concerning than my catching their increase in risk/leverage is the method in which I did the trade. Broker-dealers are no longer needed, and Goldman is a broker-dealer.

 
Tyler Durden's picture

Frontrunning: April 17





  • Fed Shies Away From June Rate Hike (Hilsenrath)
  • Europe Stocks Fall Most in Three Weeks Amid Greece as Banks Drop (BBG)
  • China Futures Tumble on Trust Curbs, Expansion of Short Selling (BBG)
  • Oil slips below $64 as ample supplies weigh (Reuters)
  • Fed officials lean all ways on rate hikes, data in focus (Reuters)
  • Eurozone deflation eases in March (FT)
 
Tyler Durden's picture

This Is China's Short Selling Announcement Which Sent Chinese Futures Plunging





As noted earlier, while tens of thousands of Bloomberg terminal users were twiddling their thumbs during an outage that lasted several hours, China crashed.  There was some confusion about the cause of the rapid move, but it appears the catalyst was an announcement by the China Securities Regulatory Commission in which it allowed fund managers to lend shares for short-selling, and will also expand the number of stocks investors can short sell, in a bid to raise the supply of securities in the market.

 
Tyler Durden's picture

No Matter Who Wins The White House, The New Boss Will Be The Same As The Old Boss





The American people remain eager to be persuaded that a new president in the White House can solve the problems that plague us. Yet no matter who wins this next presidential election, you can rest assured that the new boss will be the same as the old boss, and we - the permanent underclass in America - will continue to be forced to march in lockstep with the police state in all matters, public and private. It really doesn’t matter what you call them - the 1%, the elite, the controllers, the masterminds, the shadow government, the police state, the surveillance state, the military industrial complex - so long as you understand that no matter which party occupies the White House in 2017, the unelected bureaucracy that actually calls the shots will continue to do so.

 
Tyler Durden's picture

Another Former IMF Head Arrested: Rodrigo Rato Perp Walked In Madrid





As we reported earlier, the former chief of the IMF Rodrigo Rato, who was succeeded in 2007 by another scandalous figure, Dominique Strauss-Khan, was recently put under investigation by Spanish authorities for money-laundering, benefiting from a tax amnesty to repatriate previously undeclared offshore funds. This is in addition to previous investigation into his role as chairman of Caja Madrid, the failed savings bank, and its successor Bankia. And, unlike every single JPM banker pretty much ever, moments ago Rato became the second former IMF head in several years (following DSK), to be placed under arrest.

 
Reggie Middleton's picture

The Pop Media Is In Love With Goldman Again, Probably Because They Don't Read The Fine Print





Surprise! Surprise! Five years ago I said the only way Goldman would ever break $200 again was to ratchet up risk. Guess who broke $200 this morning. Better yet, guess how they did it! Every financial rag and business blog should read this BEFORE writing another word about GS blowout earnings!

 
Tyler Durden's picture

How Much Money Can You Really Save With A Smart Home?





It has become conventional wisdom that the wave of the future is “smart home” technology from smart utility meters that read a houses energy usage automatically to smart lights that turn off when not in use. Smart home technology marries two of the most talked about trends in business right now – the internet of things and green technology. How useful are smart home devices really though? A recent report by the British government suggests that the smart home revolution may be starting to hit some bumps in the road.

 
Tyler Durden's picture

The Changing World Of Work 4: The "Signal" Value Of Credentials Is Eroding





Conformity and being able to navigate stifling bureaucracies no longer creates value or helps employers solve real-world problems. This is why college graduates can send out hundreds of resumes and not even receive a single reply, much less an interview or job offer. An entire new feedback loop of accreditation is needed...

 
Tyler Durden's picture

Frontrunning: April 16





  • Euro zone bond yields sink to historic lows (Reuters)
  • Clinton Foundation to Keep Foreign Donors (WSJ)
  • Russia says U.S. forced it to act on Ukraine (Reuters)
  • Bankers to China's Rescue (BBG)
  • Saudi Arabia Adds Half a Bakken to Global Oil Market in a Month (BBG)
  • Valuations of Hong Kong's stock market operator go interstellar (Reuters)
  • Switzerland Attracts Fewer Firms as Politics Hurt Business Image (BBG)
 
Tyler Durden's picture

"Bonds Don't Bring Breakups, Banks Do"; UBS Says Europe Risks Bank Runs On Grexit





"Financial markets are treating the risks around Greek exit with too little regard for the probable dangers," UBS says. Put simply, bond yields don't matter, meaning that ECB-controlled sovereign spreads can't possibly be taken as a serious indicator when it comes to assessing the contagion risk from a possible Grexit. What matters are bank runs because to the degree depositors feel that redenomination risk is real, everything else goes out the window and the lines start to form at the doors of periphery banks.

 
Tyler Durden's picture

The Changing World of Work 3: "Full-Stack" Skills





 

Opportunity, liberty and risk are not divisible. We either grasp the nettle of creating value or we devolve to wistful pining for what is irrevocably in the past
 
Tyler Durden's picture

Greek Bonds Tumble, Yield Highest In 2 Years On Report Germany Prepares For Greek Default





Berlin is drawing up contingency plans as Germany prepares for an increasingly likely Greek default, Zeit reports. The new plan purportedly is designed to prop up the Greek banking sector in the event Athens misses a payment, but it's contingent upon the Syriza government acting less "taxi-driver-ish" at the reform negotiating table. In the event Greece will not cooperate, Germany is prepared to let them go but Brussels will help "facilitate" the transition to the drachma (that currency Goldman recently said the country "can't just print"). 

 
Tyler Durden's picture

Frontrunning: April 15





  • China growth slowest in six years, more stimulus expected soon (Reuters)
  • EU charges Google over shopping searches, to probe Android (Reuters)
  • A Chinese Paradox: Slow Growth Is Good, Stock Bubbles Welcome (BBG)
  • Draghi Seen Dispelling Duration Doubts About QE Program (BBG)
  • IEA Sees OPEC Supply Jumping Most in Four Years on Saudi Surge (BBG)
  • SEC Reaches Settlement with Former Freddie Mac  (WSJ)
  • Kerry says confident Obama can get final deal on Iran (Reuters)
  • Regulators Call for Short-Term Loan Changes to Handle ‘Too-Big-to-Fail’ (WSJ)
  • Florida Doctor Linked to Sen. Robert Menendez Indicted for Medicare Fraud (WSJ)
 
Tyler Durden's picture

Futures Jump Following Worst Chinese Eco Data In 6 Years





If yesterday stocks surged on the worst 4-month stretch of missing retail sales since Lehman, one which BofA with all seriousness spun by saying "it seems not unreasonable to suspect that the March 2015 reading on retail sales gets revised up next month", then the reason why futures are now solidly in the green across the board even as German Bunds have just 14 bps to go until they hit negative yields and before the ECB is fresh out of luck on future debt monetization, is that overnight China reported its worst GDP since 2009 together with economic data misses across the board confirming China's economy continues its hard landing approach despite a stock market that has doubled in the past year.

 
George Washington's picture

Inventor of Antivirus Sofware: The Government Is Planting Malicious Software On Your Phone So It Can See What You're Doing





McAfee: 

“Encryption Doesn’t Matter In a World Where Anyone Can Plant Software On Your Phone and See What You’re Seeing”

 
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