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Tyler Durden's picture

Massively Levered Beta: Tepper Adds $1.3 Billion, Or 33% Of Long Equity AUM, In SPY, QQQ Calls





While the market was topping out, Tepper was actively adding to his bullish exposure, but not in the form of many new stock positions, when in fact he partially unloaded 15 of his 38 positions, while adding 12 new positions. It was 2 of these new additions that were particularly notable: just like in early 2014, Tepper is once again back to index investing, having added a whopping $939 million in notional-equivalent SPY Calls, and $413 million in notional-equivalent QQQ Calls. In other words, Tepper is once again making a very levered beta bet that the market will resume climbing, and he can capture the upside through SPY and QQQ calls.

 
Tim Knight from Slope of Hope's picture

Silicon Shark Jumps the Shark





Innovative, successful companies are formed due to almost astronomically-unlikely pairings of the right people, at the right time, in the right place. And that place isn't going to be Startup Castle. Promise.

 
Tyler Durden's picture

London Housing Bubble Watch: $630/Month For A Bed "In" A Shared Kitchen!





You know it's a bubble when... A listing has appeared online advertising a single bed in a house in London where the mattress is located in the kitchen.

 
EconMatters's picture

China-Japan Before China-Taiwan





Is it even plausible that China would go all nuke on the U.S. over Taiwan?

 
Tyler Durden's picture

Armed Robbery In Midtown Manhattan Jewelry Store, Shots Fired





New York's thieves are getting bolder. After years without any violent crime in that mecca of hedge funds, midtown east, moments ago the NYC Scanner reported that there was an armed robbery in a jewelry store at 510 Madison where shots were fired (seemingly unaware that NYC is a gun free zone) and while 1 suspect was in custody two are still outstanding.

 
Tyler Durden's picture

Greece Effectively Defaults To IMF Using SDR Reserves To "Repay" Fund; 1 Month Countdown Begins





Greece tapped emergency reserves in its holding account at the IMF in order to make a 750 million euro payment to the Fund on Monday meaning that, as predicted, the IMF is now paying itself. Athens has one month to replenish the account. Meanwhile, the Fund has indicated it wants no part of another Greek bailout. And just to confirm how terminal the situation for Greece is, MarketNews just reported that Greece now has a paltry €90 million in cash reserves left. The end of the world's most drawn out tragicomedy is finally nigh.

 
GoldCore's picture

“This Is A New World Order” - NATO Will Not Allow Greece Leave EU - Faber





He has previously advised to act as your own own central bank and buy physical precious metals as a hedge against currency depreciation and geopolitical crises. Faber believes that storing gold in Singapore is the safest way to own gold today.

 
Tyler Durden's picture

Euro Slides After Reports Troika Is Preparing Greek Plan B, C, & D Including Parallel Currency





Earlier we detailed reports that The IMF was preparing a contingency plan in the event of a Greek default, and furthermore that Andrea Merkel was under increasing pressure to "let Greece go," and now, as Eurogroup ministers begin to gather for today's crucial 'deal-or-no-deal' meeting, Die Welt reports The Troika has 4 scenarios for Greece  - one positive and three increasingly negative ranging from the need for further bailouts to paying staff in IOUs and issuing a parallel currency.

 
Tyler Durden's picture

Merkel Under Pressure To Let Greece Go As Default Risk Rises





Members of Angela Merkel's Christian Democratic bloc are pushing the Chancellor to let Greece leave the euro, with some lawmakers saying the EU would be better off without the Greeks. Meanwhile, German FinMin Schaeuble warns of "accidental" insolvency.

 
Tyler Durden's picture

The Economics Of Tesla's PowerWall Don’t Make Sense For Most Customers In North America





Just like the Tesla electric car was spun as a niche product which will be adopted by everyone in the US (and the world) but increasingly appears that not only will this fad fade away only to be replaced by the next such attention-grabbing gimmick created by someone else, so the PowerWall is a product that while clearly appealing to some 40,000 early adopters "it’s yet not clear that it will expand much beyond that." According to Catalytic Engineering, the PowerWall "economics don’t make sense for most customers in North America" and that "by itself, the Tesla PowerWall residential unit won’t disrupt the energy industry, as it’s looking like a niche product."

 
Tyler Durden's picture

The "Wrong" Reason Why Bernanke Is Making Bank





Why would financial firms pay so much for blogger Ben Bernanke’s thoughts? Aside from the marketing benefits we noted, there is one good reason. In essence, you’d want to know what Bernanke would think if he were wrong or ill-informed about some important economic issue. That is something money managers understand in a way that academics and policymakers do not, for being wrong – and knowing what to do next – is a critical skill for the professional. Getting the most information from Bernanke, either in a one-on-one or just reading his work online, boils down to just two questions: “What doesn’t he know” and “What is he sure of that is actually wrong?”

 
Tyler Durden's picture

Frontrunning: May 8





  • Ed Miliband, Nick Clegg and Nigel Farage resign as Tories sweep to victory (Telegraph)
  • Bonds and stocks rebound, sterling soars after UK election (Reuters)
  • Cameron Set to Return With U.K. Majority as SNP Sweeps Scotland (BBG)
  • Tory win brings marked EU exit risk (Reuters)
  • Why did Labour lose this election? It never tried to win it (Telegraph)
  • Stock Buybacks Hit New Records (WSJ)
  • Hard Money Comes Easy as Wall Street Funds Home Flippers (BBG)
  • Justice Department to Investigate Baltimore Police (WSJ)
  • Saudi Arabia mulling land operations on Yemen border (Reuters)
 
Tyler Durden's picture

It Begins: US Government Issues $700,000 Fine Against A Digital Currency





By going after Ripple (a major player in the industry), FinCEN is trying to scare all the smaller players into ratting out their customers. You don’t see rich, stable countries doing this sort of thing. In fact, the exact opposite. An official from HK Treasury recently stated that: “the Government does not consider it necessary to introduce at the moment new legislation to regulate trading in such virtual commodities or prohibit people from participating in such activities.”

 
Tyler Durden's picture

Corporate Kleptocracy: 6,300 Examples Of America's Malignant Malfeasance





What follows is a remarkable data base of Corporate Fines and Settlements. From blatant cartel price-fixing or not disclosing the dangers of the company's heavily promoted medications to destroying documents to thwart an investigation of wrong-doing, the list is stunning and reads like a who's who of Corporate America and Top 100 Global Corporations. In other words, these were not wrist-slaps for minor oversights of complex regulations - these are blatant violations of core laws of the land and while the PR spins how corporate profits benefit widows and orphans, this vast wealth is concentrated in the top 1% and the top 5%.

 
lemetropole's picture

Rant Time





As is almost always the case, the price of gold was leaned on at the standard PLAN A time in London when The Gold Cartel traders reported for work, but their nudge was thwarted pretty quickly. Gold took off again going into the Comex trading hours and managed to reach $1200 where it was stopped dead in its tracks. James Mc early this morning…

 
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