Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
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.
Warren Buffett is as the “Oracle of Omaha,” and he is one of the most successful investors of all time. Buffett runs Berkshire Hathaway, which owns more than 60 companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen. Mr. Buffett is the son of a U.S. congressman, he first bought stock at age 11 and first filed taxes at age 13. He pledges to give away most of his fortune. Last year (2019) he donated $3.6 billion, much of it to the foundation of friends Bill and Melinda Gates.
tZERO secures US$5M equity investment
Nawaz Ahmed
BraveNewCoin, 23 April 2020
tZERO is Patrick Byrnes’ attempt to utilize blockchain technology to replace traditional institutional market structures.
Project Medici intends to create a blockchain-based securities exchange, and Byrne had stated that he was interested in listing Overstock securities on a blockchain-based exchange. The project was officially announced on October 6th at the Inside Bitcoins Las Vegas conference.
The long term goal was to compete with the Depository Trust and Clearing Corporation (DTCC).
Should You Be Concerned About Benitec Biopharma Limited’s (NASDAQ:BNTC) Historical Volatility?
Simply Wall St, 20 April 2020
Anyone researching Benitec Biopharma Limited (NASDAQ:BNTC) might want to consider the historical volatility of the share price. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. The first category is company specific volatility. This can be dealt with by limiting your exposure to any particular stock. The second sort is caused by the natural volatility of markets, overall. For example, certain macroeconomic events will impact (virtually) all stocks on the market. Continue reading “Article: Should You Be Concerned About Benitec Biopharma Limited’s (NASDAQ:BNTC) Historical Volatility?”
It’s a ‘Swimming Naked’ Moment: The Financial System Has a Real Test
James B. Stewart
New York Times, 10 March 2020
The investor Warren Buffett once gave a famous warning: “It’s only when the tide goes out that you learn who’s been swimming naked.”
The tide has just gone out again, and clues to who’s been swimming naked have begun to emerge.
Mr. Buffett first made that comment in 1992, after Hurricane Andrew exposed the inadequacies of the insurance industry, to describe the rosy appearances that can mask financial recklessness until the good times end.
Berkshire Hathaway Bet Big on Dialysis Giant DaVita. Jim Chanos Thinks It’s a Scam.
Christine Idzelis, Institutional Investor, 4 December 2019
DaVita provides life-extending dialysis treatment to more than 200,000 patients. But is it gaming the system through questionable donations to the American Kidney Fund?
Comment: Chanos is calling DVA a fraud. Stock was $59 it fell to $53. Then it went to $115. NICE WORK. Buffet too big to cheat?
Who’s Been Swimming Naked? We’re About to Find Out (It’s Time to Raise Capital)
David Spreng
Runway Growth, 18 November 2019
Every growth company on the planet should seriously consider raising additional capital now. The U.S. economy and capital markets are showing near-record valuations, performance and strength across the board. However, we are keenly aware of economist Herb Stein’s maxim, “If something can’t go on forever, it won’t.” Growth capital is readily available today—but likely won’t be for many companies in the near future.
When the Feds Went After the Hedge-Fund Legend Steven A. Cohen
Sheelah Kolhatkar, 09 January 2017
One day in early 2013, Preet Bharara, the U.S. Attorney for the Southern District of New York, met with his deputy, Richard Zabel, about one of the biggest cases of his career—a crackdown on insider trading in the hedge-fund industry. Although the financial crisis had receded, popular rage against Wall Street bankers and traders was still strong; most Americans had seen their incomes stagnate while the fortunes of the wealthiest continued to swell. For the previous few years, Bharara and the prosecutors who worked under him at the Southern District, along with investigators at the Federal Bureau of Investigation and the Securities and Exchange Commission, had been studying phone logs, wiretapping traders’ calls, and flipping witnesses, one after the other, as they worked their way deep into some of Wall Street’s most profitable hedge funds. Bharara was now considering a criminal indictment of Steven A. Cohen, the founder of a fourteen-billion-dollar hedge fund called S.A.C. Capital Advisors. Continue reading “Article: When the Feds Went After the Hedge-Fund Legend Steven A. Cohen”
Steven Cohen May Sell Stock in Company Whose Founder Went to Prison For Insider Trading
ALEXANDR OLEINIC, 17 October 2013
Steven Cohen, SAC Capital, Insider Trading: According to an update from Reuters Business on Twitter, Steven Cohen‘s hedge fund SAC Capital would like to sell its position in the privately-owned company Kadmon Pharmaceuticals. As the outlet points out, “Kadmon was founded by Sam Waksal, who served a five year prison term for insider stock trading.” Continue reading “Article: Steven Cohen May Sell Stock in Company Whose Founder Went to Prison For Insider Trading”
Matt Taibbi
Rolling Stone, 4 August 2010
Cue the credits: the era of financial thuggery is officially over. Three hellish years of panic, all done and gone – the mass bankruptcies, midnight bailouts, shotgun mergers of dying megabanks, high-stakes SEC investigations, all capped by a legislative orgy in which industry lobbyists hurled more than $600 million at Congress. It all supposedly came to an end one Wednesday morning a few weeks back, when President Obama, flanked by hundreds of party flacks and congressional bigwigs, stepped up to the lectern at an extravagant ceremony to sign into law his sweeping new bill to clean up Wall Street.
Alexis Stokes, Texas State University
Journal of Law and Business 5/1 (Spring 2009)
This article explores the origins of naked short-selling litigation; considers
the failures of significant naked short-selling lawsuits in federal court;
surveys the obstacles erected collectively by constitutional standing requirements, the Federal Rules of Civil Procedure, the Private Securities Litigation Reform Act, brokerage firms, death spiral financiers, and the Depository Trust and Clearing Corporation; examines the efficacy of Regulation SHO, SEC rule 10b-21, and new FINRA rules; discusses recent state legislation and state court litigation; and identifies non-litigation options to curb naked short-selling. Ultimately, this article seeks to answer the question: If manipulative naked short-selling is more than a mythological scapegoat for
small cap failure, what remedies are, or should be, available?
PDF (62 Pages): Article In Pursuit of the Naked Short
The Story of Deep Capture
By Mark Mitchell, with reporting by the Deep Capture Team
The Columbia School of Journalism is our nation’s finest. They grant the Pulitzer Prize, and their journal, The Columbia Journalism Review, is the profession’s gold standard. CJR reporters are high priests of a decaying temple, tending a flame in a land going dark. In 2006 a CJR editor (a seasoned journalist formerly with Time magazine in Asia, The Wall Street Journal Europe, and The Far Eastern Economic Review) called me to discuss suspicions he was forming about the US financial media. I gave him leads but warned, “Chasing this will take you down a rabbit hole with no bottom.” For months he pursued his story against pressure and threats he once described as, “something out of a Hollywood B movie, but unlike the movies, the evil corporations fighting the journalist are not thugs burying toxic waste, they are Wall Street and the financial media itself.” His exposé reveals a circle of corruption enclosing venerable Wall Street banks, shady offshore financiers, and suspiciously compliant reporters at The Wall Street Journal, Fortune, CNBC, and The New York Times. If you ever wonder how reporters react when a journalist investigates them (answer: like white-collar crooks they dodge interviews, lie, and hide behind lawyers), or if financial corruption interests you, then this is for you. It makes Grisham read like a book of bedtime stories, and exposes a scandal that may make Enron look like an afternoon tea.
Introduction By Patrick M. Byrne, Deep Capture Reporter
PDF (69 Pages): Deep Capture Story
‘Naked’ short selling is center of looming legal battle
Companies on the defensive seize upon an aggressive form of shorting
Alistair Barr
MarketWatch, 14 June 2006
By one contentious estimate, it’s a big problem plaguing more than 10% of stocks on the New York Stock Exchange and Nasdaq. An NYSE probe into whether naked shorting was used to force down shares of Vonage Holdings Corp. VG, +3.53% lower during the Internet phone company’s May initial public offering has added fuel to the fire. See full story.
Continue reading “Article: ‘Naked’ short selling is center of looming legal battle”
Nicholas Stein, 07 February 2000
How many Internet CEOs spend their adolescence learning allegorical life lessons from Warren Buffett? And how many then go on to follow his advice? Patrick Byrne, CEO of Overstock.com, a Salt Lake City company that sells excess inventory of items such as clothing and consumer electronics at deep discounts, has done both. Continue reading “Article: The Renaissance Man of E-Commerce Patrick Byrne has done more in his 37 years than most do in a lifetime. Will that make his company, Overstock.com, a success?”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
