Category: Article – Media

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Article: Burford Capital loses fight to force London Stock Exchange to hand over confidential trading data

Article - Media

Burford Capital loses fight to force London Stock Exchange to hand over confidential trading data

Global Legal Post, 15 May 2020

Litigation funder Burford Capital has conceded defeat in an unprecedented battle with the London Stock Exchange (LSE) after the High Court rejected its application for the LSE to hand over confidential trading information.

Burford was seeking the identities of market participants trading in its shares in a bid to prove that its share price had been illegally manipulated during a sell-off that occurred after a heavily critical research report by hedge fund Muddy Waters last August.

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Article: “Selling American” Buffett Dumps Most Of His Goldman Stake, Trims JPMorgan In Turbulent First Quarter

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“Selling American”: Buffett Dumps Most Of His Goldman Stake, Trims JPMorgan In Turbulent First Quarter

ZeroHedge, 15 May 2020

Airlines aren’t the only sector that Warren Buffett notoriously dumped in April, ahead of the Berkshire Hathaway annual meeting.

According to the just filed Berkshire 13F, in the first quarter when the conglomerate’s equity holdings took a record hit of $66.5 billion, as the value of Berkshire’s disclosed equity positions tumbled from $242BN as of Dec 31, to $175.5BN on March 31, Buffett also sold the bulk, or 84%, of his Goldman Sachs stake – formerly a top 20 position for Berkshire – selling 10 million shares of what at Dec 31 was a 12 million position, while trimming 3% of his stake in JPMorgan (from 59.5MM to 57.7MM shares).

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Article: Whistleblower Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds

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Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds

Heather Vogell

ProPublica, 15 May 2020

Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of another mortgage collapse.

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Article: Burford abandons market manipulation claim

Article - Media, Publications

Burford abandons market manipulation claim

Gazette reporter, 15 May 2020

Burford Capital has abandoned a legal bid to prove its share price was illegally manipulated after being denied access to market information.

The embattled litigation funder said it does not intend to appeal a High Court ruling refusing an application to compel the London Stock Exchange to release trading data.

Burford has made a concerted effort to pursue claims for market manipulation following an August 2019 short attack against its shares. The Guernsey-registered and New York-based business came under assault when a US shareholder activist, Muddy Waters, published an apparently damning analysis. Muddy Waters claimed Burford was ‘arguably insolvent’ and described its governance as ‘laughter-inducing’, allegations which were strenuously denied by Burford. Muddy Waters renewed its attack on Burford earlier this week, accusing it of over-stating profits. Continue reading “Article: Burford abandons market manipulation claim”

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Article: Burford Loses ‘Market Manipulation’ Claim Against London Stock Exchange

Article - Media, Publications

Burford Loses ‘Market Manipulation’ Claim Against London Stock Exchange

Krishnan Nair, 15 May 2020

Burford Capital has failed in its claim against the London Stock Exchange (LSE) that it had been the victim of market manipulation, after its share price plummeted last year.

Last August, the litigation funder’s share price tumbled following what the firm referred to as a “short-selling attack” by U.S. research firm Muddy Waters. More than $1.2 billion was wiped off Burford’s value, with shares dropping as low as 64%.

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Article: The Fed scolded Deutsche Bank for money-laundering protections, new report says

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The Fed scolded Deutsche Bank for money-laundering protections, new report says

Ben Winck

Business Insider, 14 May 2020

The Federal Reserve recently lambasted Deutsche Bank for loose controls as the firm looks to overhaul its reputation, The Wall Street Journal reported Thursday, citing a person familiar with the matter.

The central bank notified Deutsche Bank in a letter that it had ongoing concerns about the firm’s US money-laundering protections, according to the report. The Fed also criticized the company for not resolving issues that led to its “troubled condition” classification in 2017.

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Article: “Worse Than 2008” – American Pension Funds Report Record Losses In Q1

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“Worse Than 2008” – American Pension Funds Report Record Losses In Q1

Tyler Durden

Zero Hedge, 13 May 2020

Public pension plans lost a median 13.2% in the three months ended March 31, according to Wilshire Trust Universe Comparison Service data released Tuesday, slightly more than in the fourth quarter of 2008. March’s stock market plummet led to the biggest one-quarter drop in the 40 years the firm has been tracking.

Continue reading “Article: “Worse Than 2008” – American Pension Funds Report Record Losses In Q1″

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Article: How the COVID-19 Bailout Gave Wall Street a No-Lose Casino

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How the COVID-19 Bailout Gave Wall Street a No-Lose Casino

While ordinary Americans face record unemployment and loss, the COVID-19 bailout has saved the very rich

Matt Taibbi

Rolling Stone, 13 May 2020

This financial economy is a fantasy casino, where the winnings are real but free chips cover the losses. For a rarefied segment of society, failure is being written out of the capitalist bargain.

Continue reading “Article: How the COVID-19 Bailout Gave Wall Street a No-Lose Casino”

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Article: In ‘Cum-Ex’ Crackdown, EBA Tells Supervisors to Look at AML Compliance

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In ‘Cum-Ex’ Crackdown, EBA Tells Supervisors to Look at AML Compliance

KYC360, 13 May 2020

EU banking supervisors must investigate Cum-Ex transactions and other dividend arbitrage schemes as part of their reviews of anti-money laundering (AML) compliance programs, the bloc’s banking authority said Tuesday.

The European Banking Authority (EBA) said in a report that recent surveys of the bloc’s AML and prudential supervisors indicate that member-states “do not share the same understanding of dividend arbitrage trading schemes and the extent to which financial institutions’ handling of the proceeds from these schemes constitutes money laundering.” The handling of funds linked to such schemes “is likely to amount to money laundering, irrespective of where the tax crime took place,” the EBA said.

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Article: After a Reverse Split, Can Aurora Cannabis Also Reverse the Downward Trend?

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After a Reverse Split, Can Aurora Cannabis Also Reverse the Downward Trend?

Aurora Cannabis (ACB) is one of the major players in the Canadian pot industry, but along with many other Canadian cannabis stocks, the hype has failed to deliver profits and meet investors’ expectations. As a result, the share price has collapsed by over 90% since early May last year.

Comment: Naked short selling killed this company. Why would a reverse have anything do with business?  its means nothing But the stories seem to say the reverse can change the downtrend?  HOW?

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Article: Crying Foul In Short-Selling Land

Article - Media

Crying Foul In Short-Selling Land

Liz Moyer

Forbes, 9 May 2006

An issue once relegated to conspiracy theorists and boiler-room insiders is about to get its 15 minutes in the sun when the Senate Judiciary Committee takes up naked short-selling in a hearing next Wednesday.

The hearing, which was postponed a week because of scheduling (and what was said to be overwhelming media interest), will focus on a brewing controversy that has already generated lawsuits against hedge funds, broker firms and research analysts alleging market manipulation in short-selling certain thinly traded stocks.

Paywall access to article.

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Article: Elon Musk Says He’s “Not The Biggest Fan” Of Warren Buffett

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Elon Musk Says He’s “Not The Biggest Fan” Of Warren Buffett

Tyler Durden

Zero Hedge, 8 May 2020

Musk’s comments, along with the rest of his underwhelming podcast with Joe Rogan, can be seen here:

Comment: Todays story is Warren Buffett the hero of the people The HERO of the people  NO  All this old Prick had to do was say HEY SEC settle the trades stop the Fraud   But instead he said nothing.

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Article: Germany’s BaFin investigating Wirecard communication ahead of audit publication

Article - Media

Germany’s BaFin investigating Wirecard communication ahead of audit publication

Reuters, 8 May 2020

BaFin had previously said it would include the findings of the KPMG audit in its ongoing investigation into suspected market manipulation in Wirecard stock.

Comment: Regulatory agencies are easy to manipulate as a secondary means of direct market manipulation. They address only a tiny fraction of the crimes being committed by naked short sellers, while being easily spoofed into helping naked short sellers because they take fraudulent whistleblowers at face value when it suits them to do so.

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Article: Were Hedge Funds Right About InMode Ltd (INMD)

Article - Media, Publications

Were Hedge Funds Right About InMode Ltd (INMD)/strong>

Debasis Saha, 06 May 2020

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy long-term Treasury bonds. Our article also called for a total international travel ban. While we were warning you, President Trump minimized the threat and failed to act promptly. As a result of his inaction, we will now experience a deeper recession (see why hell is coming). Continue reading “Article: Were Hedge Funds Right About InMode Ltd (INMD)”

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