Tag: Buffett

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Article: ITUB Stock: A Story of Reddit, Warren Buffett and Currency Manipulation Allegations

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ITUB Stock: A Story of Reddit, Warren Buffett and Currency Manipulation Allegations

Brenden Rearick, 16 June 2021

You’ve got to hand it to r/WallStreetBets: They’ve gotten very robust in their stock selection process as compared to the GameStop (NYSE:GME) era. The message board, which has grown significantly in the first half of the year, is picking mortgage REITs and private prisons as some of the latest meme stocks. It should not be a surprise then that the retail investor group is looking to follow whales to new frontiers, like they are doing today with Itaú Unibanco Holdings (NYSE:ITUB) stock. Continue reading “Article: ITUB Stock: A Story of Reddit, Warren Buffett and Currency Manipulation Allegations”

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Article: Share buybacks roar back – but how good an idea are they?

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Share buybacks roar back – but how good an idea are they?

Adrian Holliday, 13 May 2021

Spurred by the speed of global vaccination roll-outs, stimulus boosts and a white-hot US first-quarter earnings period, some US companies have upped dividend payments to their shareholders. Alternatively, they’re buying back their own shares in ‘buybacks’. So what are share buybacks? Is the UK seeing a similar wave – and how good an idea are share buybacks for investors? Continue reading “Article: Share buybacks roar back – but how good an idea are they?”

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Entrepreneur: Patrick M. Byrne

entrepreneur, People

Patrick M. Byrne  (born November 29, 1962) is an American entrepreneur who was the CEO of Overstock.com. In 1999, Byrne launched Overstock.com after leading two smaller companies, including one owned by Warren Buffett’s Berkshire Hathaway. In 2002, Byrne took Overstock.com public. Since its initial public offering, Overstock.com has increased revenue to almost $1.8 billion, while achieving profitability in 2009.

In 2005, Byrne became known for his campaign against illegal naked short selling. Byrne and securities regulators maintained illegal naked shorting had been used in violation of securities law to distort prices of public companies’ stock. Under his direction, Overstock.com filed two lawsuits alleging improper acts by Wall Street firms, a hedge fund, and an independent research firm.[5] In each case the defendants settled with Overstock.com out of court. Continue reading “Entrepreneur: Patrick M. Byrne”

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Letter: Marc Cohodes to Judge Jed Rakoff

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PDF (5 Pages): 20210218-Cohodes Submission Against Petit

“Second, Mr. Cohodes has never engaged in naked short selling (that is, he trades through brokers who find shares for him to borrow and he pays high interest fees to maintain his short positions). He was never part of any concerted illegal campaign to target MiMedx; his actions were his own.”

Comment: The above statement by a lawyer is easily challenged in court with evidence. Mr. Cohodes appears to be panicking. This time around it will cost him 10X to 100X what he was forced to pay Patrick Byrne.  We have it all. The matter of compromised judges and DOJ and SCC as a RICO organization are also on the table. DTCC will not survive a Special Prosecutor.

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David K. Lifschultz: New Forms of [Wall Street] Treason?

Letter

Max Keiser does not really understand what the monetary expansion has to cover.

Central banks are transferring wealth from the average person to the likes of Bill Gates and Jeff Bezos – RT’s Keiser Report

You have according to the BIS 600 trillion in derivatives against a 81 trillion dollar world GDP or a multiple of 7. The BIS coordinates only the banks so this figure does not include insurance company derivatives or others in private industry unless a bank is connected to the transaction so it is grossly understated.  Some Swiss bankers tell me it is more like 1.2 quadrillion and others up to 2.5 quadrillion. 1.2 quadrillion gives you a multiple on the world GDP of 14 and 2.5 quadrillion a multiple of 30.

Continue reading “David K. Lifschultz: New Forms of [Wall Street] Treason?”

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Article: Patrick Byrne

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Patrick Byrne

Marketswiki, 02 February 2021

Patrick Byrne is an American entrepreneur. Despite owning a company that is publicly traded on Wall Street, he has been called “The Scourge of Wall Street” for his outspoken criticism of several high-profile individuals in various financial institutions whom he accused of corruption.[1] He is the founder and chief executive officer of Overstock.com, one of the first retailers to begin accepting bitcoin as payment for goods and services.[2] He is also the co-creator of the blockchain platform tZERO.

On August 22, 2019, in a letter to shareholders, Byrne announced his resignation as chief executive officer and member of the board of Overstock.com. Continue reading “Article: Patrick Byrne”

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Game On In Silver: This Could Be For Real

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Andrew Hecht | 21.02.02

During the past several days, the highly-speculative silver market became a central focus of the social media crowd. Markets move high when buyers are more aggressive than sellers and vice versa. Silver is now the next target for the herd that cashed in on GameStop and other shares with short interest. Silver and GME shares are very different assets, but the price action puts them in the same category in the current landscape.

Continue reading “Game On In Silver: This Could Be For Real”

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Article: A Tycoon’s Deep-State Conspiracy Dive

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A Tycoon’s Deep-State Conspiracy Dive

Sheelah Kolhatkar, 07 December 2020

In July, 2015, Patrick Byrne, the founder of the online discount retailer Overstock, delivered a twenty-minute talk at FreedomFest, the annual libertarian conference in Las Vegas. Other speakers included the venture capitalist Peter Thiel; John Mackey, the chief executive officer of Whole Foods; and the Presidential candidate Donald J. Trump.

Byrne’s talk, entitled “Turtles All the Way Down: How the Crypto-Revolution Solves Intractable Problems on Wall Street,” was a version of one he had given many times before. It touched on several of his interests, including the kind of liberalism usually referred to as libertarianism, the flaws in the structure of the stock market which make it vulnerable to manipulation, and how a blockchain-based financial system could eliminate those flaws. After the talk, a line of people waited by the stage to speak to Byrne.
Continue reading “Article: A Tycoon’s Deep-State Conspiracy Dive”

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Article: Has Wall Street Stolen $100 Trillion from the American Public? Will Donald Trump Get It Back?

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Has Wall Street Stolen $100 Trillion from the American Public? Will Donald Trump Get It Back?

Tehran Times, May 26, 2020 – International

TEHRAN – Robert David Steele, a former Marine Corps infantry officer and CIA spy as well as an activist for Open Source Everything Engineering (OSEE), contributes regularly to Tehran Times.

Continue reading “Article: Has Wall Street Stolen $100 Trillion from the American Public? Will Donald Trump Get It Back?”

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Article: Buffett Sells More Stocks, Including Goldman Sachs, With No ‘Elephant-Sized’ Acquisition On The Horizon

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Buffett Sells More Stocks, Including Goldman Sachs, With No ‘Elephant-Sized’ Acquisition On The Horizon

16 May 2020

Forbes, Sergei Klebnikov

Billionaire investor Warren Buffett, who told investors earlier this month that he had made a “mistake” betting on airlines, is continuing to sell stocks amid the coronavirus pandemic, the latest regulatory filing from Berkshire Hathaway shows.

Read full article.

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Article: Warren Buffett’s Berkshire Hathaway sells majority of stake in Goldman Sachs

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Warren Buffett’s Berkshire Hathaway sells majority of stake in Goldman Sachs

Jazmin Goodwin

CNN, 16 May 2020

Warren Buffett’s Berkshire Hathaway (BRKA) sold off 84% of its stake in Goldman Sachs (GS) during the first quarter, according to a regulatory filing.

The conglomerate slashed its holdings in the investment bank to 1.9 million shares from 12 million shares, according to SEC filings released Friday. Goldman Sachs’s share price plunged by almost a third during the first quarter as the novel coronavirus swept the nation.

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Article: Warren Buffett’s Berkshire Hathaway slashed its Goldman Sachs stake by 84% last quarter

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Warren Buffett’s Berkshire Hathaway slashed its Goldman Sachs stake by 84% last quarter

Theron Mohamed

BusinessInsider, 15 May 2020

Warren Buffett’s Berkshire Hathaway slashed its Goldman Sachs holdings and sold its stakes in energy group Philips 66 and insurer Travelers in the first quarter, according to a Securities and Exchange Commission filing released on Friday.

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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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