Insider Trading

Here Are Some Of The Americans In The "Panama Papers"

Today we finally get some answers to the question on everyone's lips: who are the Americans in the Panama Papers? Surprisingly, there are no politicians of note are in files but plenty of others. Among them: retirees, scammers, and tax evaders, all of whom found a use for secrecy of offshore companies.

Has The Biggest Of All Bubbles Popped: Central Bank Omnipotence?

Since the beginning of what is now considered “the zenith of unabashed central bank interventionism” few were willing to speculate, let alone admit, that without the Federal Reserve continuously pumping money in one form or another, while simultaneously keeping interest rates at the zero bound – the markets had no fundamental reason whatsoever to be at these current levels. Currently up seems to only happen in response after some jawboning or implied immediate implementation, where the theme is more mea culpa in nature. Rather, than fortitude or conviction of policy.

Is Steve Cohen Back To His Criminal Ways

We were hoping that Mr. Cohen, who surely would not want his name dragged back into another insider trading scandal as he prepares to move back to managing other people's money which he will be allowed to do in two years time, now that the SEC has granted him a reprieve from the isolation of a family office, will provide us with the required information, the same information which several years ago was material enough for the Feds to unleash the most historic crackdown on a legendary hedge fund in modern capital market history.

Frontrunning: February 16

  • Oil eases off highs after output freeze agreement (Reuters)
  • Saudis and Russia agree to oil output freeze, Iran still an obstacle (Reuters)
  • China Loses Control of the Economic Story Line (WSJ)
  • Obama starts work to pick Supreme Court justice amid political 'bluster' (Reuters)
  • The Never-Ending Story: Europe’s Banks Face a Frightening Future (BBG)
  • Apollo Global to buy security services company ADT for $7 billion (Reuters)

Here Are The 100 Biggest Hedge Funds And Their Favorite Stocks

Courtesy of Bank of America, here is a list of the 100 top hedge funds in the US and their 100 favorite stock holdings - assuming the status quo continues, expect very substantial asset declines among these 100 when we rerun this analysis in 52 weeks time.

Frontrunning: December 22

  • Battered oil wins respite, lifts stocks (Reuters)
  • Oil Halts Decline as Emerging Market Stocks Climb on China (BBG)
  • Bonds Set to Beat Stocks Globally in 2015 After China Falters (BBG)
  • SpaceX Falcon rocket nails safe landing in pivotal space feat (Reuters)
  • China Leaders Flag More Stimulus After Top Economic Meeting (BBG)
  • SEC to Retrench Case Against SAC’s Steven A. Cohen (WSJ)

China "Disappears" More Bank Executives As Witch Hunt Intensifies

Less than two weeks after Guotai chief Yim Fung went "missing" amid Beijing's reinvigorated crackdown on market "manipulators," Citic Securities - China's largest broker - says it cannot find two of its most prominent investment bankers. Considering recent events, you don't have to be a detective to make an educated guess as to what might have happened to Jianlin Yan and Jun Chen.

Frontrunning: December 3

  • Mario Draghi Is About to Become the World's Market Risk Manager (BBG)
  • Five Things to Ask Mario Draghi From Negative Rates to QE (BBG)
  • Leaving behind baby and bombs, couple sows panic in California (Reuters)
  • Couple's motive in California rampage a mystery for police, family (Reuters)
  • In Grim Ritual, Barack Obama Again Calls for Stricter Gun Control After Mass Shooting (WSJ)
  • Islamic State Defeat Impossible Without Ground Force, Kerry Says (BBG)
  • OPEC States Push for Output Cuts in Face of Saudi Opposition (BBG)

China Unleashes Perfect Storm Of Bad News Prompting Stock Market Plunge

From witch hunts to corporate defaults to abysmal data, Friday marked a rather unceremonious end to the week for China, as a veritable perfect storm of bad news sent the SHCOMP reeling. Unfortunately for China's day trading masses the plunge protection team was, like Guotai Junan International Holdings’ CEO Yim Fung, "missing" in action.

After Arresting Hundreds Of Stock Traders, China Cracks Down On "Malicious" Metals Sellers Next

The China Nonferrous Metals Industry Association has submitted a request to Chinese regulators to probe "malicious" short-selling in domestic metal contracts amid recent price declines. Becase it is always the "malicious" sellers who are the cause of all the world's problems, never the "malicious" buyers, especially when said buyers are the central banks themselves.

Ex-Goldman Compliance Worker Sued By SEC For Insider Trading

A former Goldman Sachs Group Inc. employee "hired to help it monitor computer systems for illicit activity" used the company’s own inside information to invest in mergers and acquisitions involving the bank’s clients, the Securities and Exchange Commission said.