Raj Rajaratnam

Tyler Durden's picture

Frontrunning: July 9





  • Xi Says China Conflict With U.S. Would Be Disaster (BBG)
  • Short selling drops to lowest level since Lehman (FT)
  • Scoping the new subprime as watchdogs cry 'bubble' (Reuters)
  • Carlos Slim to break up América Móvil empire (FT)
  • Jury Acquits Rengan Rajaratnam in Insider-Trading Case (WSJ)
  • Hamas rockets land deep in Israel as it bombards Gaza Strip (Reuters)
  • Hong Kong Buyers Queue for New Homes After Prices Plunge (BBG)
  • Rebel Stronghold in Ukraine Braces for Its Showdown (WSJ)
  • Tiny Houses Big With U.S. Owners Seeking Economic Freedom (BBG)
  • Chinese Cash-Bearing Buyers Drive U.S. Foreign Sales Jump (BBG)
 
Tyler Durden's picture

Frontrunning: July 2





  • France's Sarkozy faces corruption probe in blow to comeback hopes (Reuters)
  • Ukraine Says Military Offensive Against Rebels Yielding Results (WSJ)
  • JPMorgan Investors Show Support for Dimon in Cancer Fight (BBG)
  • World’s ATM Moves to Frankfurt as Yellen’s Fed Slows Cash (BBG)
  • Argentina Seen Backtracking on Fernandez Vows as Legacy at Risk (BBG)
  • Palestinian teen killed in possible revenge attack (Reuters)
  • The Bill and Hillary Clinton Money Machine Taps Corporate Cash (WSJ)
  • London House Prices Surge the Most Since 1987, Nationwide Says (BBG)
  • Last Jew in Afghanistan faces ruin as kebabs fail to sell (Reuters)
 
Tyler Durden's picture

"What Politicians Want Is A World Of Pure Beta And Zero Alpha"





What politicians want from their regulatory efforts is a world of pure beta and zero alpha. This is the ultimate “level playing field”, where no one knows anything that everyone else doesn’t also know. The presumption within regulatory bodies today is that you must be cheating if you are generating alpha. How’s that? Alpha generation requires private information. Private information, however acquired, is defined as insider information. Insider information is cheating. Thus, alpha generation is cheating. QED. Why would politicians want an alpha-free market? Because a “fair” market with a “level playing field” is an enormously popular Narrative for every US Attorney who wants to be Attorney General, every Attorney General who wants to be Governor, and every Governor who wants to be President … which is to say all US Attorneys and all Attorneys General and all Governors. Because criminalizing private information in public markets ensures a steady stream of rich criminals for show trials in the future. Because the political stability of the American regime depends on a widely dispersed, non-zero-sum price appreciation of all financial assets – beta – not the concentrated, zero-sum price appreciation of idiosyncratic securities. Because public confidence in the government’s control of public institutions like the market must be restored at all costs, even if that confidence is misplaced and even if the side-effects of that restoration are immense.

 
Tyler Durden's picture

Frontrunning: June 25





  • Here come the rolling blackouts: Obama takes on power plant emissions as part of climate plan (Reuters)
  • Walking Back Bernanke Wished on Too Much Information (BBG)
  • As previewed last week: Bridgewater "All Weather" is Mostly Cloudy, down 8% YTD (Reuters)
  • U.S. Said to Explore Possible China Role in Snowden Leaks (BBG)
  • Coeure Says No Doubt ECB Loose Monetary Policy Exit Distant (Bloomberg)... so a "recovery", but not at all
  • U.S. steps up pressure on Russia as Snowden stays free (Reuters)
  • Texas' Next Big Oil Rush: New Pipelines Ferrying Landlocked Crude Expected to Boost Gulf Coast Refiners (WSJ)
  • Singapore Offsets Bankers as Vacancies Fall (BBG)
  • Asian Stocks Fall as China Sinks Deeper Into Bear Market (BBG), European Stocks Rally With Bonds as Metals Advance (BBG)
  • Qatar emir hands power to son, no word on prime minister (Reuters)
 
Pivotfarm's picture

Stock Market Crashes Through the Ages – Part I – 17th and 18th Centuries





Bulls and Bears. It’s all about predicting when that upturn or that downswing in the market is going to take place and when you need to sell or buy that stock to hit the jackpot and make the millions. People have been doing it for centuries and that doesn’t look like it is going to stop right now. There have been dozens of financial crises over the centuries and each of them has had an effect on the lives of people to varying degrees.

 
Tyler Durden's picture

Frontrunning: March 26





  • Berezovsky Died of Hanging Without Struggle, Police Say (BBG)
  • BRICS Nations Plan New Bank to Bypass World Bank, IMF (BBG)
  • China pledges more investments to Africa (FT)
  • BOJ's Kuroda signals targeting longer-dated JGBs (Reuters)
  • North Korea orders artillery to be combat ready, targeting U.S. bases (Reuters)
  • Supreme Court to take up gay marriage for the first time (Reuters)
  • U.S. Cracks Down on 'Forced' Insurance (WSJ)
  • Japanese courts press Abe on electoral reform (FT)
  • Vietnam accuses China of attack on fishermen in South China Sea (Reuters)
  • Italy's High Court Overturns Knox Acquittal (WSJ)
  • Facebook’s Zuckerberg Said to Explore Forming Political Group (BBG)
 
Tyler Durden's picture

Frontrunning: March 22





  • Cyprus targets big depositors in bank plan  (FT)
  • Merkel Vents Anger at Cyprus Over Bailout Plan as Deadline Looms (BBG)
  • Russia rebuffs Cyprus, EU awaits bailout "Plan B" (Reuters)
  • Russia Rejects Cyprus Bid for Financial Rescue as Deadline Looms (BBG)
  • Cyprus unveils shake-up as the clock ticks (FT)
  • Remember Italy? Italy’s stalemate unnerves investors (FT)
  • Credit Suisse CEO pay jump to fuel banker bonus debate (Reuters)
  • Kuroda Rebuts Reflation Naysayers as BOJ Action Looms (BBG)
  • Fund Manager Says 'Whale' Trade Was a Bet (WSJ)
  • House averts government shutdown, backs Ryan budget (Reuters)
  • Hong Kong Homes Face 20% Price Drop as Banks Raise Rates (BBG)
 
Tyler Durden's picture

Goldman Managing Director Snagged In Insider Trading Probe Leaves Firm





With the entire world, and certainly GETCO's ES and EURUSD algos, focused on every single update out of the Italian Senate race, which now appears certain to not bring the necessary 158 seats to the Bersani-Monti coalition leading to a chaotic revote in the coming months, here is some tangential news of the "who could have ever seen this coming variety." Following last week's Heinz insider trading probe, which implicated a Goldman Sachs account in Zurich belonging to some private wealth client, who was so anonymous not even Goldman knows who it belonged to, we now learn that yet another Goldman employee has just left the company in a totally separate insider trading probe.

 
Tyler Durden's picture

Frontrunning: February 1





  • 'London Whale' Sounded an Alarm on Risky Bets (WSJ)
  • Deadly Blast Strikes U.S. Embassy in Turkey (WSJ)
  • Abe Shortens List for BOJ Chief as Japan Faces Monetary Overhaul (BBG)
  • Endowment Returns Fail to Keep Pace with College Spending (BBG) - More student loans
  • Mexico rescue workers search for survivors after Pemex blast kills 25 (Reuters)
  • Lingering Bad Debts Stifle Europe Recovery (WSJ)
  • Peregrine Founder Hit With 50 Years (WSJ) - there is hope Corzine will get pardoned yet
  • Deutsche Bank to Limit Immediate Bonuses to 300,000 Euros
  • France's Hollande to visit Mali Saturday (Reuters)
  • France, Africa face tough Sahara phase of Mali war (Reuters)
  • Barclays CEO refuses bonus (Barclays)
  • Edward Koch, Brash New York Mayor During 1980s Boom, Dies at 88 (BBG)
  • Samsung Doubles Tablet PC Market Share Amid Apple’s Lead (BBG)
 
Tyler Durden's picture

Frontrunning: December 28





  • Lawmakers, Obama in last chance talks on "fiscal cliff" (Reuters)
  • Obama Summons Congress Leaders as Budget Deadline Nears (BBG)
  • Hopes for fiscal cliff deal fade  (FT)
  • Iran starts navy drills in Strait of Hormuz (Reuters)
  • Looming Port Strike Deadline Pressures Obama to Intervene (BBG)
  • Home Depot to Lowe’s Busiest Season Threatened by Strike (BBG)
  • 'Whale' Capsized Banks' Rule Effort (WSJ)
  • China tightens Internet controls, legalizes post deletion (Reuters)
  • Goldman Sachs Buying Japan’s Exporters on Abe Policy Bets (BBG) and preparing one Goldman alumnus to take over the BOJ
  • IPOs Slump to Lowest Level Since Financial Crisis After Facebook (BBG)
  • Blackstone seen sticking with SAC despite insider trading probe (Reuters) - what a shock
  • Mistry at Tata Helm as Investors Query $500 Billion Goal (BBG)
  • High-Speed Traders Race to Fend Off Regulators (WSJ)
 
Tyler Durden's picture

Frontrunning: December 6





  • MSM discovers window dressing: Fund Managers Lift Results With Timely Trading Sprees (WSJ)
  • White House Unyielding on Debt Limit (WSJ)
  • Obama, Boehner talk; Geithner prepared to go off "cliff" (Reuters)
  • Republicans urged to resist tax rises (FT)
  • China looms large over Japanese poll (FT)
  • As predicted here two months ago, Greek Bond Buyback Leads S&P to Cut to Selective Default (BBG)
  • Japan opposition LDP set to win solid election majority – polls (BBG), but...
  • Japan Opposition LDP’s Main Ally Cautions Abe on BOJ Pressure (BBG)
  • U.S. and Europe Tackle Russia Trade (WSJ)
  • King Seen Maintaining QE as Osborne Extends Fiscal Squeeze (BBG)
  • Syria pound fall suggests currency crisis (FT)
  • Irish budget seeks extra €3.5bn (FT)
  • U.K. Extends Cuts Due to Poor Outlook (WSJ)
  • ECB Seen Refraining From Rate Cuts as Yields Sink on Bond Plan (BBG)
 
Tyler Durden's picture

Frontrunning: December 5





  • LA port workers to return Wednesday (AP)
  • Iran says extracts data from U.S. spy drone (Reuters)
  • Obama to stress need to raise debt limit "without drama" (Reuters)
  • Big Lots Chief Probed by SEC (WSJ)
  • NATO missiles to be sent to Turkey, Syria clashes rage (Reuters)
  • GOP Deficit Plan Irks Conservatives (WSJ)
  • Japan Can End Deflation in Months, Shirakawa Professor Says (BBG) ... almost as good as Bernanke ending inflation in 15 minutes.
  • Osborne Prepares to Breach Fiscal Rules Amid U.K. Growth Slump (BBG)
  • Global Banking Under Siege as Regulators Guard National Interest (BBG)
  • Freeport plans return to energy (FT)
  • Serbian NATO envoy jumps to death at Brussels airport (Reuters)
  • Tide Turns After a Flood of Chinese Listings (WSJ)
  • Australian economy loses steam (FT)
  • Euro Crisis Feeds Corruption as Greece Slides in Rankings (BBG)
 
Tyler Durden's picture

Frontrunning: October 26





  • Greece Faces Need for Additional Assistance: €30 billion (WSJ)
  • Greeks fail to agree on bailout terms (FT)
  • The report that got the NYT banned on the Chinese interweb: Billions in Hidden Riches for Family of Chinese Leader (NYT)
  • Bo Xilai: China parliament expels disgraced politician (BBC)
  • Japan Adds Stimulus Amid Threat of Bond-Sale Disruption... $9.4 billion (Bloomberg)
  • Hubbard Said to Prefer Treasury Chief to Fed If Romney Wins (Bloomberg)
  • 9 More Banks Subpoenaed Over Libor (WSJ)
  • Romney raises $112m in 17 days (FT)
  • Amid Cutbacks, Greek Doctors Offer Message to Poor: You Are Not Alone (NYT)... no, we are all broke
  • Muni Downgrades Top 2011 Total on Weak Economy: Moody’s (Bloomberg)
  • Ireland urges ECB to commit to bond-buying (FT)
  • Cameron and Clegg unite in EU demands (FT)
 
Tyler Durden's picture

Frontrunning: October 25





  • Japan grapples with own fiscal cliff (Bloomberg)
  • Japan Protests After Four Chinese Vessels Enter Disputed Waters (Bloomberg)
  • Asian Stocks Rise as Exporters Gain on China, U.S. Data (Bloomberg)
  • An obsolete Hilsenrath speaks: Fed Keeps Rates Low, Says Growth Is Moderate (WSJ)
  • ECB Said to Push Spain’s Bankia to Swap Junior Debt for Shares (Bloomberg)
  • Spain’s Bad Bank Seen as Too Big to Work (Bloomberg)
  • China postpones Japan anniversary events (China Daily)
  • Carney Says Rate Increase ‘Less Imminent’ on Economy Risk (Bloomberg)
  • Credit Suisse to Cut More Costs as Quarterly Profit Falls (Bloomberg)
  • Obama offers a glimpse of his second-term priorities (Reuters)
  • Draghi defends bond-buying programme (FT)
 
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