OTC

Sprott Money's picture

As you know, gold has been on a tear in 2016 as investors and traders around the globe have profited form being long. You would think that some of the "smartest" and "best-connected" traders in the world - those on Bullion Bank trading desks - would have profited from this 20% move as well. However, if you think that, you're dead wrong.

An Inside Look at the World's Biggest Paper Gold Market

Almost all gold (95%) traded in London is unallocated and without legal title. This makes it easier to trade, but it also raises concerns about a market that is opaque to begin with. There are 5,500 tonnes of paper gold exchanging hands on paper each day, but there are only 300 tonnes of gold vaulted in London outside of the reserves for ETFs or the Bank of England. What would happen if there was ever even a small rush to get the physical asset behind the paper? Is there a system in place for such an event, and how does it work?

The Biggest Bitcoin Arbitrage Ever?

"Can any of the Joe Sixpacks out there who’ve invested in this Bitcoin ETF to provide us a borrow as shorting it is not currently available..."

Why Hedge Funds Have Rarely Been More Bearish: Highlights From The SALT Conference

Following last week's Sohn Conference, where the overarching theme was one of prevailing bearishness topped by Stanley Druckenmiller's near-apocalyptic forecast that only gold will be left standing after all confidence evaporates in the "magic people" known as central bankers,  yesterday some 1,800 hedge fund industry executives gathered in Las Vegas at the SkyBridge Alternatives Conference or SALT, where the prevalent concern about the future of the world continued, driven primarily by worries about China.

The Michael Pearson Era Is Officially Over: Valeant Appoints Joseph Papa As Chairman And CEO

The Michael Pearson era at Valeant is officially over. Following a week of leaks that the troubled Canadian ex-rollup will hire Perrigo's CEO, Joseph C. Papa, moments ago the company confirmed this when the VRX board said that it has named Joseph C. Papa to become Valeant's Chairman and Chief Executive Officer (incidentally this comes on the day in which Periggo stock tumbled after the company slashed its 2016 EPS forecast from $9.50-$9.80 to $8.20-$8.50).