Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Deutsche Bank hit with spoofing fine by US Justice Department
Deutsche Welle, 29 January 2018
US authorities have fined Deutsche Bank and two other European finance institutions for manipulating markets. Germany warned its best-known bank not to overdo bonuses — it’d be bad for its already soured image. Continue reading “Article: Deutsche Bank hit with spoofing fine by US Justice Department”
U.S. CFTC to fine UBS, Deutsche Bank, HSBC for spoofing, manipulation: sources
Reuters, 27 January 2018
The U.S. derivatives regulator is set to announce it has fined European lenders UBS, HSBC and Deutsche Bank millions of dollars each for so-called “spoofing” and manipulation in the U.S. futures market, three people with direct knowledge of the matter told Reuters.
The enforcement action by the Commodity Futures Trading Commission (CFTC) is the result of a multi-agency investigation that also involves the Department of Justice (DoJ) and the Federal Bureau of Investigation (FBI) – the first of its kind for the CFTC, the people said.
The fines for UBS and Deutsche Bank will be upward of ten million, while the fine for HSBC will be slightly less than that, the people said, without providing exact figures. Continue reading “Article: U.S. CFTC to fine UBS, Deutsche Bank, HSBC for spoofing, manipulation: sources”
China Based Investigation Into Ballard Power (Nasdaq/TSE: BLDP) Suggests 35% – 70% Downside Risk
Ben Axler, 25 Janury 2018
Spruce Point Capital Management is pleased to announce it has released the contents of a unique research report on Ballard Power Systems (Nasdaq and TSE: BLDP). Spruce Point has conducted a critical business and financial review of Ballard and its Chinese growth ambitions, which has been a key driver of its recent share price out performance. Based on our on the ground China research, in our opinion Ballard is set to disappoint expectations as a result of having selected the wrong Chinese partners, and the market and infrastructure for its products not having developed according to plan
As a result, we have issued a “Strong Sell” opinion and a long-term price target of approximately $1.15 – $2.50 per share, or approximately 35% to 70% downside risk.
Continue reading “Article: China Based Investigation Into Ballard Power (Nasdaq/TSE: BLDP) Suggests 35% – 70% Downside Risk”
Spruce Point Capital Management, 25 January 2018
Report entitled “Fuel Sell Opportunity” highlights the findings of Spruce Point’s on the ground due diligence on the nascent state of the China hydrogen fuel cell industry, and the significant challenges faced by Ballard’s China partners, Broad Ocean and Synergy. The report discusses the potentially significant risk to Ballard’s backlog and suggests that the stock has 35%-70% downside.
China Industry Challenges: There are currently only 36 licensed fuel cell vehicles on the road in China, only six refueling stations (one is public), and limited planning being devoted to hydrogen sourcing and transportation. In Spruce Point’s view, the lack of refueling infrastructure, confusion around refueling subsidies and abysmal refueling station economics pose the greatest threat to fuel cell vehicle commercialization. At this point, it still remains uncertain if China will develop the fuel cell vehicle market beyond an experimental phase.
Continue reading “Article: Spruce Point Capital Releases a Strong Sell Primary Research Opinion on Ballard Power Systems Inc. (Nasdaq: BLDP, TSE: BLDP)”
Hedge fund says cannabis stocks will either collapse or we should all move to Canada and grow pot
Leslie Picker, 25 January 2018
A multibillion-dollar hedge fund is not high on marijuana stocks. Lakewood Capital Management, led by Anthony Bozza, revealed short positions in Canopy Growth (: CGC-CA) and Aurora Cannabis (Toronto Stock Exchange: ACB-CA) , according to the firm’s fourth-quarter investor letter sent Wednesday and obtained by CNBC. The firm has about $5 billion in assets under management. “It has been hard to come across a retail investor rag or stock blog without hearing about some way to play this theme, and countless web sites are now devoted to investing in this exciting industry,” Bozza wrote.
“Despite recent mania around the legalization of recreational pot in California, there is a little problem: none of these companies sell at all into California (or anywhere else in the U.S. for that matter), since that would, of course, be illegal.” Bozza notes that much of the “appeal” surrounding these stocks recently stems from “regulatory momentum, constant press coverage, growing public acceptance, an absence of large incumbents and an enormous, rapidly expanding market opportunity.” But, he adds, that the barriers to entry for the industry are very low and that the number of licensed producers in Canada is growing rapidly. Bozza estimates that Canopy Growth’s production capacity can be recreated for less than 150 million Canadian dollars and Aurora’s for CA$100 million.
Continue reading “Article: Hedge fund says cannabis stocks will either collapse or we should all move to Canada and grow pot”
BlackRock CEO Larry Fink Wants a Kinder, Gentler Capitalism. He Should Look At His Own Investments.
Derek Seidman, 18 January 2018
Larry D. Fink may be the most powerful investor in the world. As founder and CEO of BlackRock, he oversees the investment of around $6 trillion – yes, trillion – in funds. When Fink talks, companies listen. Now Fink appears to be trying to wield BlackRock’s influence for good. In a letter he drafted that he’s sending to CEOs, Fink writes:
“Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” Continue reading “Article: BlackRock CEO Larry Fink Wants a Kinder, Gentler Capitalism. He Should Look At His Own Investments.”
Former Russian banker detained in Monaco over $ 8.8 mln fraud
Vladimir Gudkov, 18 January 2018
Former Investtorgbank management board chairman Vladimir Gudkov has been detained in Monaco on fraud charges, a law enforcement source told TASS.
“Former Investtorgbank management board chairman and shareholder Vladimir Gudkov has been detained in Monaco,” the official said, specifying that the detainee is charged with large-scale fraud. Continue reading “Article: Former Russian banker detained in Monaco over $ 8.8 mln fraud”
Home Capital Group comments on statement of claim
Home Capital Group Inc. , 17 January 2018
Home Capital Group Inc. (“Home Capital” or the “Company”) (TSX:HCG) today announced it has received a statement of claim issued by Marc Cohodes, who opted out of a global settlement of the securities class action in 2017 with Home Capital. The claim is based on allegations of misrepresentations and oppressive conduct and seeks $4 million in damages. Continue reading “Article: Home Capital Group comments on statement of claim”
Short Seller Cohodes Claims Home Capital Group Misled Him, Suit Say
Vipal Monga, 17 January 2018
Short seller Marc Cohodes on Tuesday sued Canadian mortgage lender Home Capital Group Inc. for 4 million Canadian dollars ($3.2 million) for allegedly misrepresenting the state of its business in 2015, leading him to close out short positions at a loss. Continue reading “Article: Short Seller Cohodes Claims Home Capital Group Misled Him, Suit Say”
Billionaire Ken Griffin buys most expensive home in Chicago
Robert Frank
CNBC, 10 January 2018
According to local media reports, Griffin bought the top four floors of a new condo tower on the Gold Coast for $58.5 million. And he’s buying raw space. So he will spend millions more to turn the space into a home.
Johnson Fistel, 09 July 2018
Johnson Fistel, LLP, is investigating potential violations of federal securities laws by Tucows Inc. (NASDAQ: TCX) (“Tucows”). Tucows provides network access, domain name registration, email, mobile telephony, and other Internet services in the United States, Canada, and Germany.
On January 8, 2018, Copperfield Research issued a report stating that Tucows failed to disclose a lawsuit “that should imminently result in the loss of 11% of the Company’s revenue producing domains; nine insiders who sold $21 million of stock while hiding the fact its eNom subsidiary was being sued by its largest partner for breach of contract; and a laundry list of accounting shenanigans and financial irregularities.”
Continue reading “Article: Tucows (TCX) Alert: Johnson Fistel Announces Investigation of Tucows Inc.; Encourages Investors to Contact the Firm for Additional Information”
US regulators to fine UBS, Deutsche Bank, HSBC for ‘spoofing’ and manipulation: Sources
Ruben Sprich, 29 January 2018
The U.S. derivatives regulator is set to announce it has fined European lenders UBS, HSBC, and Deutsche Bank millions of dollars each for so-called spoofing and manipulation in the U.S. futures market, three people with direct knowledge of the matter told Reuters.
The enforcement action by the Commodity Futures Trading Commission (CFTC) is the result of a multiagency investigation that also involves the Department of Justice (DoJ) and the Federal Bureau of Investigation (FBI) — the first of its kind for the CFTC, the people said.
The fines for UBS and Deutsche Bank will be upward of $10 million, while the fine for HSBC will be slightly less than that, the people said, without providing exact figures. Continue reading “Article: US regulators to fine UBS, Deutsche Bank, HSBC for ‘spoofing’ and manipulation: Sources”
Tucows Inc. (TCX): Cashing In On Neo-Nazis, Child Porn, & A Hidden Lawsuit As Insiders Dump
Copperfield Research, 08 January 2018
We believe Tucows’ business model and economics have been severely misrepresented by management and are grossly misunderstood by shareholders. The history of this former Canadian penny stock is littered with red flags, dubious accounting gimmicks that inflate EBITDA, financial reports that fail to reconcile from one quarter to the next, and a promotional management team who recently resorted to infomercials. Based on our deep dive forensic analysis, we believe Tucows intrinsic value is closer to $20.00 per share, at best, or nearly 70% below its current trading price. And this price target generously ignores material risks from Tucows’ UNDISCLOSED litigation with its largest domain reseller.
In late December, a Washington State Court ordered Tucows to transfer 3.2 million “.com” and “.net” domain names to Namecheap, and an Appeals Court denied Tucows’ motion for an emergency stay.
Continue reading “Article: Tucows Inc. (TCX): Cashing In On Neo-Nazis, Child Porn, & A Hidden Lawsuit As Insiders Dump”
Overstock CEO Spearheads Cryptocurrency
Sarah Koebel, 08 January 2018
Tech-driven online retailer Overstock’s CEO, Patrick Byrne, has made quite the splash in the cryptocurrency world.
As one of the first retailers to accept bitcoin as a form of payment, Overstock has reaped in some serious profit. Its stocks have risen significantly since July (much like the price of bitcoin). And thanks to Bryne’s development of tZero, an ICO for OverStock, more profits are set to roll in. And Byrne isn’t stopping there, he has also created a company that will use blockchain technology to help provide land rights to people in developing countries. Continue reading “Article: Overstock CEO Spearheads Cryptocurrency”
Ban Lifted, Steven Cohen May Soon Be Investing For Clients Again
Nicole Einbinder, 08 January 2018
Steven Cohen, the billionaire investor once known as “the hedge-fund king,” could soon be managing other people’s money again — assuming investors can look past the insider trading allegations that sunk his previous firm.
For the past two years, Cohen has been barred from managing money for clients under a 2016 agreement reached with the Securities and Exchange Commission for failing to properly supervise a former portfolio manager at his fund SAC Capital Advisors who was found guilty of insider trading. Continue reading “Article: Ban Lifted, Steven Cohen May Soon Be Investing For Clients Again”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
