"I’m not sure that I would see it as an undermining of the rule of the crown prince. It’s much more likely ensuring that he doesn’t go off the deep end."
"Our interpretation of subsequent events leads us to believe that funding was not secured for a going private transaction, nor was there any formal proposal."
“The long term trend is way up, but I expect many short-term swings in the market along the way. Fundamentally, the world needs Bitcoin, and that demand will only increase in the coming years..."
Amid fears of emerging market contagion, Chinese tech giant Tencent stunned traders this morning with abysmal earnings and, worse, the company's first profit drop in a decade.
Just one day after Reuters reported that the Saudi sovereign wealth fund has shown no interest in financing Elon Musk’s proposed $72 billion deal to take Tesla private, Bloomberg is out with a full refutation, reporting that the Saudis are in fact in talks to invest in said deal.
Saudi Arabia’s financially strapped Sovereign Wealth Fund has shown no interest so far in financing Elon Musk’s proposed $72 billion deal to take Tesla private, Reuters reports.
Overstock.com soared 25% after Hong Kong-based PE firm GSR Capital announced it would invest as much as $375MM in exchange for equity in the retailer, as well as its tZero blockchain subsidiary at a $1.5 Billion valuation.
The “regime change” is likely reflecting that “Domestic / U.S. Inflation Expectations” are no longer dictating global asset prices as they have for much of the past few years across both Fixed-Income and Equities.
Despite headlines that the biggest coffee chain in the world will soon begin accepting Bitcoin, the crypto space is under pressure this morning (led by Bitcoin) following comments from Goldman Sachs that "further declines" are expected.
The Treasury International Capital, TIC Update, confirms that the massive reduction we saw in US Treasuries by the Russians in April continued in May. They sold basically 81 billion in two months, down from just under 100 billion. That's an 80% reduction in two months!
...a mountain of meat is building in U.S. cold-storage facilities, spurred by a surge in production and President Trump’s trade war that is pressuring foreign demand.
