Category: Article &#8211; Media

Billionaire Ken Griffin buys New York penthouse for $238 million, the most expensive US home ever sold

Robert Frank

CNBC, 23 January 2019

Hedge fund billionaire Ken Griffin closed a deal to buy the most expensive home ever sold in the U.S., paying around $238 million for a New York penthouse overlooking Central Park.

01/22/201905/12/2020

Article: Billionaire Ken Griffin buys $122 million London mansion

Billionaire Ken Griffin buys $122 million London mansion

Robert Frank

CNBC, 22 January 2019

H/O: 3 Carlton Gardens London Ken Griffin mansion

Hedge fund billionaire Ken Griffin has just smashed another real estate price record, buying the most expensive home sold in London in over a decade for $122 million.

Griffin, CEO and founder of Citadel, bought a famed mansion near Buckingham Palace that was once home to Charles de Gaulle, according to a company spokesperson. The property at 3 Carlton Gardens stretches more than 16,000 square feet and has an indoor swimming pool and large staff quarters. It is the most expensive home sold in London since 2008, and comes as London property prices have tumbled due to Brexit fears.

01/21/201903/02/2021

Article: BlackRock CEO Larry Fink Tells Corporate CEOs to Engage in Better Eyewash

BlackRock CEO Larry Fink Tells Corporate CEOs to Engage in Better Eyewash

Yves Smith, 21 January 2019

One of the sorry spectacles of modern life is having prominent individuals who profit from and serve as prime exemplars of major social ills trying to depict themselves as part of the solution, when they haven’t gone through any sort of Damascene conversion o give their virtue-signalling even a thin veneer of legitimacy. Today’s object lesson is Larry Fink, the Chairman and CEO of the ginormous fund manager BlackRock (not to be confused with the private equity/alternative asset manager Blackstone). BlackRock, with $6.2 trillion under management as of October, 2018, is the largest asset manager in the world,. Continue reading “Article: BlackRock CEO Larry Fink Tells Corporate CEOs to Engage in Better Eyewash”

01/16/201903/02/2021

Article: The Fake Larry Fink Letter That Duped Reporters

The Fake Larry Fink Letter
That Duped Reporters

Alicia McElhaney, 16 January 2019

Asset management giant BlackRock is investigating a fake letter sent to reporters by someone posing as the firm’s chief executive officer Larry Fink, a spokesperson said Wednesday. “Don’t be fooled by imitations…Larry’s real CEO letter coming soon,” BlackRock tweeted Wednesday. The Financial Times was duped by the letter, which focused on climate change, a report from the news outlet said Wednesday. Continue reading “Article: The Fake Larry Fink Letter That Duped Reporters”

01/14/201905/12/2020

Article: David Einhorn Still Laboring Under Sad Misconception That Tesla Is Subject To Basic Logic

David Einhorn Still Laboring Under Sad Misconception That Tesla Is Subject To Basic Logic

Thornton Mcenery

Dealbreaker, 14 January 2019

Like many in his peer group, things have been pretty rough lately for good old David Einhorn. What with losing all that client money, getting shut down on his big GM play and the Mets being sellers at the deadline, Big Dave just needs a win.

But he seems to be barking up the wrong tree with his strange Tesla obsession. See, David Einhorn is a systematic value investor who likes to look at things through a logical prism. He’s a master poker player with a long-term view of the world. He’s a billionaire who drives a Honda Odyssey.

Of course David Einhorn doesn’t understand Tesla.

01/10/201902/26/2021

Article: Pretium – Pretium’s Predictable Predicament

Pretium – Pretium’s Predictable Predicament

Viceroy Research, 10 January 2019

Pretium released the Brucejack Mine’s Q4 2018 production update yesterday after-market, and market reaction shows it fell short of expectations. Pretium’s ore grade has predictably fallen since Q2 2018 by >22%, leading to a miss of Pretium’s H2 low-end gold production guidance of 200,000 ounces. At 11.5g/t, Pretium’s head grade is now 30% below feasibility study sampling.

Per our previous reports, Viceroy believe Pretium’s grades will continue to fall as Pretium appear to be at the tail end of extracting high-grade deposits found along the Cleopatra Vein. As a reminder to our readers, we have appended this section of our thesis to this note.

Pretium have attributed their production and grade shortfall on their grade control system, which they state will be refined. We believe this is an unnerving excuse, and have provided substantial evidence to support our thesis that Pretium is overmining or selectively mining its deposits.
Continue reading “Article: Pretium – Pretium’s Predictable Predicament”

01/02/201903/08/2021

Article: Overstock CEO Patrick Byrne Is An Innovator And Survivor – Utah Business

Overstock CEO Patrick Byrne Is An Innovator And Survivor – Utah Business

windowswear, 02 January 2019

Patrick Byrne, the CEO of Overstock is known as two things: innovator and survivor. Over the course of his life, Mr. Byrne has beaten cancer three times, hepatitis twice, and endured over 100 surgeries and medical procedures. From this, he draws inspiration.

“Life is short,” said Mr. Byrne in a recent interview with Silicon Slopes. “Samuel Johnson says, ‘When you tell a man he’s to be hung in a fortnight, it tends to focus his mind tremendously.’ Well, I’ve been very focused on getting some things done and it has lasted about 30 years. It’s probably the best thing that ever happened to me. If I hadn’t gotten cancer I probably would’ve been a lifeguard somewhere and not nearly as driven.”

Alongside this constant battle, Mr. Byrne has grown into one of Utah’s most notable innovators. In 1999, he launched Overstock.com to corner an emerging market: discount goods sold via the internet. Continue reading “Article: Overstock CEO Patrick Byrne Is An Innovator And Survivor – Utah Business”

01/02/201905/12/2020

Article: Will Naked Short Selling Make a Comeback in 2019?

Will Naked Short Selling Make a Comeback in 2019?

Cynthia Hetherington

Hetherington Group, 2 January 2019

Many investors “Go Long,” meaning they purchase stocks with the hope of gaining returns as the price of the security increases. A short seller, on the other hand, borrows on a stock and sells, hoping the price will decrease.

A third type of investor is known as a Naked Short Seller. No, this isn’t the story of a guy sipping mai tai’s on a tropical beach in his birthday suit (although he could be and not be committing fraud!).

12/21/201803/13/2021

Article: UBS agrees to pay $68M in multistate settlement over Libor manipulation claims

UBS agrees to pay $68M in multistate settlement over Libor manipulation claims

Declan Harty, 21 December 2018

UBS AG agreed to pay $68 million as part of settlement with 39 U.S. states and the District of Columbia related to the Swiss banking giant’s alleged manipulation of the London interbank offered rate.

Led by New York Attorney General Barbara Underwood, the UBS settlement is the latest in a string of agreements state regulators have recently reached with banks that were allegedly altering Libor submissions for their own benefit leading up to and around the financial crisis of 2008.

UBS was accused of misrepresenting its U.S. dollar-tied Libor submissions to protect its reputation, according to a press release from Underwood’s office. The 40 attorneys general who were part of the settlement also claimed UBS manipulated Yen Libor submissions to favor its derivative trading positions. Continue reading “Article: UBS agrees to pay $68M in multistate settlement over Libor manipulation claims”

12/20/201803/15/2021

Article: Major Banks Suspected of Collusion in Bond-Rigging Probe

Major Banks Suspected of Collusion in Bond-Rigging Probe

Patricia Kowsmann and Margot Patrick, 20 December 2018

The European Commission suspects Deutsche Bank AG , Credit Suisse Group AG, Crédit Agricole SA and another global bank of colluding to manipulate a multi-trillion-dollar government-backed bond market, escalating a long running probe.

The European Union’s executive arm, which opened the investigation almost three years ago, said in a statement Thursday that banks will now lay out their defenses. If found guilty, they could face a fine of up to 10% of their annual world-wide revenue. Continue reading “Article: Major Banks Suspected of Collusion in Bond-Rigging Probe”

12/19/201802/27/2021

Article: Citron Says the “Bidding Is On” for This Cannabis Company

Citron Says the “Bidding Is On” for This Cannabis Company

DANIEL LIBERTO, 19 December 2018

Famous short seller Andrew Left has high hopes for Aphria Inc. (APHA). In a research note, Left’s firm Citron Research claimed that the heavily shorted marijuana stock could hit $8 within the next two weeks because it has emerged as a prime acquisition target for either a major consumer packaged goods company or another marijuana producer.

“Expect an $APHA major partnership or total buyout SOON,” Citron tweeted on Tuesday after publishing its report. Citron’s bullish note, on top of news that Aphria expanded on an existing licensing agreement with Rapid Dose Therapeutics to offer its QuickStrip oral drug delivery system to customers in fast-growing marijuana market Germany, lifted the Canadian company’s shares 7.79% during Tuesday’s trading session.
Continue reading “Article: Citron Says the “Bidding Is On” for This Cannabis Company”

12/17/201803/13/2021

Article: UBS Fined $15 Million Over Anti-Money-Laundering Systems

UBS Fined $15 Million Over Anti-Money-Laundering Systems

Maria Armental and Samuel Rubenfeld, 17 December, 2018

UBS Group AG agreed to pay a combined $15 million fine over regulatory deficiencies in its anti-money-laundering program, U.S. regulators said Monday.

The U.S. Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, said broker-dealer unit UBS Financial Services Inc. violated the Bank Secrecy Act, which requires financial firms to report suspicious activities, over a roughly 13-year period through 2017. Continue reading “Article: UBS Fined $15 Million Over Anti-Money-Laundering Systems”

12/14/201803/02/2021

Article: State Street CEO Hooley to retire at end of 2018

State Street CEO Hooley to retire at end of 2018

Michael Dabaie, 14 December 2018

State Street said on Friday that Joseph L. Hooley will retire as chief executive on December 31. In late 2017, State Street said Ronald P. O’Hanley would succeed Hooley as CEO. O’Hanley, who has been State Street’s president and chief operating officer since November 2017, will start his new role on January 1. Continue reading “Article: State Street CEO Hooley to retire at end of 2018”

12/11/201805/18/2020

Article: Wall Street Allows Giants Like Morgan Stanley Special Trading Hours

Wall Street Allows Giants Like Morgan Stanley Special Trading Hours

C. Edward Kelso

CoinSpice, 11 December 2018

“At the New York Stock Exchange, some traders are more equal than others,” Post reporter Kevin Dugan began. “That’s the bitter takeaway from stock brokers, who say the Big Board, in an unusual move last week, gave special treatment to a broker at Morgan Stanley who asked to trade large blocks of stocks for several minutes after the markets closed.”