• GoldCore
    07/01/2015 - 10:07
    With all eyes on Greece it would seem another crisis relating to unpayable debt is brewing in the Caribbean. The governor of Puerto Rico, Alejandro García Padilla, has warned that the island is...

Insider Trading

testosteronepit's picture

Fizzing Optimism For Wild Financial Engineering





Nothing can be a more pungent metaphor for today's investment climate than the headline, “Macau gambling revenue hits record $45 bn in 2013.”

 
Tyler Durden's picture

The Ivy League's New Dream Job: Not Wall Street, But Waiting Tables





As recently as October, we joked that the "best-performing" job category in the US was also the most miserable one - i.e., "bartenders and waiters", also known as jobs which often times get paid below minimum wages and rely on the goodwill of their customers for tips to survive. And indeed, as of November, there were a record 10.4 million waiters in the US, representing a record 45 consecutive monthly increases in this job category - hardly the stuff robust recoveries are made of. However, it turns out the joke may be on us after all because as the WSJ explains, "Waiting Tables at Top-Tier Restaurants Is New Career Path for Ivy League and Culinary School Grads." It appears that gone are the days when every Ivy graduate's fast-track to stardom dream was to become a banker (or in the worst case, a corporate lawyer). And with Wall Street's increasing conversion into a utility, the aspirations of the best and the brightest will progressively shift elsewhere. But waiting tables? Well, as it turns out that's where the money is because "head waiters at top-tier restaurants can earn from $80,000 to as much as $150,000 a year including tips, according to industry executives."

 
Tyler Durden's picture

What The 1% Wear To Court





With an ever-rising number of 1%-ers in the public eye for less-than-god's-work-like behavior, Town and Country magazine knows it can be tough dressing for court when nothing in your closet is off the rack! Here are some fashion strategies for the wealthy and notorious as they approach the bar... the dock is the new red carpet and one must, must find the balance between Brioni and bankruptcy... or Couture over Kevlar...

 
Phoenix Capital Research's picture

Why are so many laws and rules being thrown out?





 

The biggest problem facing investors today is that “the rules” of the game change almost every year. What I mean is that any basic rule investors took for granted could be thrown out the window. Indeed, in the last five years we’ve seen:

 
 
GoldCore's picture

Bloomberg: How to Keep Banks From Rigging Gold Prices





Allegations that banks are manipulating gold prices lower continue to gain credence and Bloomberg have published an article by Rosa Abrantes-Metz entitled ‘How to Keep Banks From Rigging Gold Prices’

 
Tyler Durden's picture

Frontrunning: December 20





  • China cash injection fails to calm lenders (AFP)
  • European Union Stripped of AAA Credit Rating at S&P (BBG)
  • Last-Minute Health-Site Enrollment Proves a Hard Sell (WSJ)
  • Bernanke’s Recession-Fighting Weapon Developed by 1900s Banker (BBG)
  • Asia Stocks Are Little Changed Amid China Funding Concern (BBG)
  • Regulators' Guidance on Volcker Rule Gives Banks Little Relief on Debt Sales (WSJ)
  • On one hand: Man Who Said No to Soros Builds BlueCrest Into Empire (BBG); on the other: Michael Platt's BlueCrest Capital Poised for Rough Close to 2013 (WSJ)
  • BOJ Keeps Record Easing as Fed Taper Helps Weaken Yen (BBG)
  • Bank of England becomes more cautious on economic predictions (FT)
  • Gold Climbs From Lowest Close Since 2010 as Goldman Sees Losses (BBG)
 
Tyler Durden's picture

Frontrunning: December 19





  • Traders Seek an Edge With High-Tech Snooping (WSJ)
  • Gold Drops Below $1,200 an Ounce for First Time Since June (Bloomberg)
  • SAC Manager Guilty as Insider Focus Turns to Martoma (Bloomberg)
  • Why Ukraine spurned the EU and embraced Russia (Reuters)
  • Target confirms major card data theft during Thanksgiving (Reuters)
  • Zuckerberg is no suckerberg: Company to Sell 27 Million Class A Shares While CEO Will Offer 41.4 Million (WSJ)
  • Facebook, Zuckerberg, banks must face IPO lawsuit (Reuters)
  • Swiss Christmas Trees Feel Chill as Franc Helps Rivals (BBG)
  • Iran, six powers to resume nuclear talks after snag (Reuters)
  • Dolphins Suffering From Lung Disease Due to Gulf Oil Spill, Study Says (WSJ)
 
Phoenix Capital Research's picture

On Bernanke's Legacy





Capitalism means failure if you screw up. But under Bernanke’s watch, “capitalism” meant giving trillions in taxpayer money to those who screwed up.

 
 
Tyler Durden's picture

Herbalife Spikes To Record High On Bass Bullishness And Icahn's "No Sale"





Following Kyle Bass' earlier comments on Herbalife's ability to tap the capital markets for a major buyback: HERBALIFE WILL BE ABLE TO BORROW AS MUCH AS $2B, BASS SAYS;  An HLF spokesperson has noted that Carl Icahn will not be selling (following the stock's close above a key level that enables him to sell). This has sent the stock to $77.39 - an all-time high. HERBALIFE SAYS ICAHN HAS NO PRESENT INTENTION TO SELL SHARES. We can only imagine how Ackman feels as day after day of theta is sucked out of his puts...

 
Tyler Durden's picture

Frontrunning: December 5





  • Apple, China Mobile Sign Deal to Offer iPhone (WSJ)
  • Japan approves $182 billion economic package, doubts remain (Reuters)
  • Volcker Rule Won't Allow Banks to Use 'Portfolio Hedging' (WSJ)
  • He went, he saw, he achieved nothing: Biden's Trip to Beijing Leaves China Air-Zone Rift Open (WSJ)
  • Britain announces sharp upward revision to growth forecasts (Reuters)
  • U.S. Airlines to Mortgage-Backed Debt Top List of Best ’14 Bets (BBG)
  • Thaksin's homecoming hopes dashed as Thai crisis reignites (Reuters)
  • Age of Austerity Nearing End May Boost Global Economy (BBG) - or it may expose that it was just corruption and incompetence at fault all along
  • China aims to establish network of high-level FTAs (China Daily)
 
Tyler Durden's picture

Frontrunning: December 4





  • EU Fines Financial Institutions Over Fixing Key Benchmarks (Reuters)
  • Euro-Area Economic Growth Slows as Exports, Consumption Cool (BBG) - someone has a very loose definition of growth
  • Ukraine Officials Scour Globe for Cash as Protests Build (BBG)
  • Oops: Franklin Boosted Ukraine Bet to $6 Billion as Selloff Began (BBG)
  • Japan Plans 18.6 Trillion Yen Economic Package to Support Growth (BBG) - or about 2 months of POMO
  • How Peugeot and France ran out of gas (Reuters)
  • Iran threatens to trigger oil price war (FT)
  • Abe Vows to Pass Secrecy Law That Hurts Cabinet’s Popularity (BBG)
  • Brazil economy turns in worst quarter for 5 years (FT)
  • Australia’s Slowdown Suggests RBA May Need to Do More (BBG)
  • Biden calls for trust with China amid airspace dispute (Reuters)
 
Tyler Durden's picture

Frontrunning: November 29





  • So much for the euphoria: Stores open early on Thanksgiving but shoppers in no rush (Reuters)
  • Get to work Mr. Chairwoman: Do-Nothing Congress Dithers on Budget as Deadline Nears (BBG)
  • FX to Libor Probes Leave U.K. Traders Looking for Lawyers (BBG)
  • Protesters Briefly Storm Thai Army Headquarters (WSJ)
  • Berlusconi accused of bribing witnesses in prostitution trial (Reuters)
  • Japan Price Gauge Rises Most Since ’98 in Boost to Abe (BBG)
  • S&P downgrades Netherlands’ AAA credit rating (FT)
  • GrainCorp Verdict Clouds Australia Open-For-Business Pledge (BBG)
  • Hertz Fix in Dollar Thrifty Deal Fails as Insider Warned (BBG)
  • Narrow Budget Agreement Comes Into View (WSJ)
 
Tyler Durden's picture

Frontrunning: November 27





  • Winter storm lashes eastern U.S., threatens Thanksgiving travel (Reuters)
  • Fed Reveals New Concerns About Long-Term U.S. Slowdown (BBG)
  • Private equity keeps $789bn of powder dry (FT) - because they are "selling everything that is not nailed down"
  • Merkel and SPD clinch coalition deal two months after vote (Reuters)
  • Japan approves new state secrecy bill to combat leaks (BBC)
  • CLOs are the new black: Volatile Loan Securities Are Luring Fund Managers Again (WSJ)
  • Health website deadline nears (WSJ)
  • Norway Debates $800 Billion Wealth Fund’s Investment Options (BBG)
  • Set of global trade deals stalls (WSJ)
  • Berlusconi To Learn Fate In Senate  (Sky)
  • Silvio Berlusconi withdraws support from Italy’s government (FT)
 
Tyler Durden's picture

53% Of Bankers Say Ethics Inhibit Career Progression - Here's Why





The Economist found, rather sadly, despite all the glad-handing and happy-talk, that 53% of financial services executives believed that strict adherence to ethical conduct would make career progression difficult. As this former Wall Street trader told The Guardian, "a precedent needs to be set, to slow down Wall Street's wild behavior. A reminder that rules are there to be followed, not exploited." The reason, among others, is summed up by the following, "if a customer wants a red suit, you sell them a red suit. If that customer is Japanese, you charge him twice what it costs."

 
Tyler Durden's picture

Average Hedge Fund Returns A Tiny 6% Through October: Underperforms S&P And Mutual Funds By 75%





Tthrough October 31, the average hedge fund has returned a paltry 6%, 75% below the return of the S&P 500 and the average mutual fund. And while the traditional retort: "hedge funds aren't supposed to outperform the market but to hedge downside risk" is always at the ready, the retort to that retort is that as long as Mr. Yellen is Chief Risk Officer for the S&P, and the Federal Reserve is engaged in QE and otherwise generating a "wealth effect", which according to many will be in perpetuity or until the Fed finally and mercifully is abolished, the purpose behind the existence of hedge funds is simply no longer there as the Fed will never again voluntarily allow the kind of market drop that would make the existence of hedge funds meaningful.

 
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