The Future Of Wall Street: Fintech 50 2021
JAMES ALBERT, 22 July 2021
Even before the Coronavirus pandemic closed bank branches and emptied Wall Street’s once-boisterous trading floors, the digitization of all things finance was well underway. Stock markets trade almost entirely electronically and many of Wall Street’s most valuable companies now provide data, technology and software to the big banks, private equity firms and hedge funds that execute the day’s big trades. Covid only accelerated the push for firms to digitize their businesses and handle an increasingly distributed workforce.
Behavox, founded by former Goldman Sachs stock analyst and hedge fund portfolio manager Erkin Adylov, has become the go-to solution for banks, hedge funds and PE firms looking to maintain control over their data as their workers trade and communicate digitally. Founded seven years ago by Kyrgyzstan-born Adylov, Behavox’s natural language processing algorithms and data lakes track and store email and voice communications for large banks and hedge funds, helping to protect against issues like market manipulation, insider trading and the stealing of intellectual property. Continue reading “Article: The Future Of Wall Street: Fintech 50 2021”
AMC Stock: Hot Topics On The Planet Of The Apes
BERNARD ZAMBONIN AND DANIEL MARTINS, 13 July 2021
Apes have been accumulating some losses lately, as AMC stock (AMC) – Get Report moves progressively lower in July. Share price has dropped by almost 20% drop in the last five days alone, possibly suggesting that short sellers remain firmly positioned against the movie theater stock.
Today, Wall Street Memes presents some of the main topics of discussion among the most fervent apes regarding AMC stock. Continue reading “Article: AMC Stock: Hot Topics On The Planet Of The Apes”
Is Discord the Next r/WallStreetBets? 5 Stocks That Suggest That’s the Case
Thomas Yeung, 09 July 2021
If you want to become a day trader, I don’t blame you. People who consistently earn several percentage points per day can become wealthy beyond belief. Crypto arbitrageur Sam Bankman-Fried recently became a minor celebrity after revealing he was a billionaire by age 29.
Typically, professional traders like Mr. Bankman-Fried are either exploiting price differentials or using some form of statistical arbitrage. That’s when investors profit from minor pricing divergences across different exchanges or assets. Continue reading “Article: Is Discord the Next r/WallStreetBets? 5 Stocks That Suggest That’s the Case”
How Traders Will Beat Wall Street This Earnings Season
Jeremy Mullin, 07 July 2021
Wed, July 7, 2021, 8:44 PM·7 min read
Let’s review a common scenario investors come across as they wake up to their portfolio in the morning:
The Dow is up 250 points; it’s going to be a good day.
Stock A is up 1.5%. That was a good pick!
Stock B is up 2.3%. What a beast!
Stock C is down 10% and falling fast! What the heck???
It turns out stock C reported earnings above expectations, but investors are not happy. So, what happened?
And why is this stock going down when they had a good quarter above everyone’s expectations? Continue reading “Article: How Traders Will Beat Wall Street This Earnings Season”
JOBS ON THE RISE, VIRGIN’S BRANSON FLIES & ROBINHOOD’S LYING EYES
Joseph Hargett, 02 July 2021
That’s right: The Labor Department said this morning that the U.S. economy added a better-than-expected 850,000 jobs in June … and economists are both excited and scared. On one hand, economists praised the strong jobs growth as proof that the economy is continuing to rebound strongly from the COVID-19 pandemic.
“Things are picking up,” said Indeed Economist Nick Bunker. “While labor supply may not be as responsive as some employers might like, they are adding jobs at an increasing rate.” Continue reading “Article: JOBS ON THE RISE, VIRGIN’S BRANSON FLIES & ROBINHOOD’S LYING EYES”
Robinhood’s Luster Stained Again With a Record $70 Million Fine
Annie Massa and Benjamin Bain, 30 June 2021
Robinhood Markets Inc. unleashed a revolution, marshaling throngs of new traders to financial markets in an upside-down year. But the free trading app’s breakneck growth hurt the same small-time investors it sought to empower.
That’s the accusation leveled by Wall Street’s self-funded watchdog, which extracted almost $70 million from the brokerage in a record settlement Wednesday, including a $57 million fine and about $12.6 million in payments to aggrieved customers. It follows Robinhood’s meteoric rise against the backdrop of the Covid-19 pandemic and the frenzy over hot stocks such as GameStop Corp. that warped the realm of retail trading. Continue reading “Article: Robinhood’s Luster Stained Again With a Record $70 Million Fine”
TLC: THE LONG CON: The markets are frothing with liquidity. PART 1
Reddit: u/con101smd, 22 June 2021
TLC: THE LONG CON:
The markets are frothing with liquidity.
How Wall St. conquered the wild west of crypto by laundering funds obtained from illegal naked short selling practices through stock market exchanges worldwide.
Mobile Edition & full PDF: https://docs.google.com/document/d/1fdZV5B6RtyVurxcVsXAOtWNn5NE8BZS1TPu24ZAzLkI/edit?usp=sharing
Read Full Article
Reddit Hates Short Sellers, But the Stock Market Needs Them
Brandon Kochkodin, 23 June 2021
There’s something a little weird about short selling. Shorting—or betting that a stock’s price will fall—is a feature of finance that doesn’t have a close analogue in the real-world economy.
Buying a stock you like isn’t much different from purchasing a product that catches your eye. But if you’re walking through the local grocery store and see an item that sets your stomach turning—say, ketchup-flavored potato chips—you don’t stand in the aisle waving off other customers, telling them how bad it is. You don’t try to crush the bag. You just think, “Who in the world eats this … ” and go on your merry way without putting it in your cart. Continue reading “Article: Reddit Hates Short Sellers, But the Stock Market Needs Them”
Is repo madness predicting a crack-up?
Rick Ackerman, 21 June 2021
[The following was written by a San Francisco friend from the hedge fund world, Shawn Brown. It buttresses the suspicion that while there seems to be plenty of credit money available for speculation, the collateral behind it is getting thinner and shakier by the week. The Fed, with $8 trillion of Treasury paper and other top-shelf collateral on its balance sheet, has monopolized the supply, leaving lending banks to scramble for collateral for their own that hasn’t already been hocked twentyfold. As a result, central bank interventions are becoming more frequent, more complex and bigger, to the point where even the experts are having trouble determining whether the banking system is headed for a crack-up far larger than the one that took down Archegos a few months ago. RA] Continue reading “Article: Is repo madness predicting a crack-up?”
Former SEC chair on the market risks even meme stock traders can’t afford to ignore
Eric Rosenbaum, 20 June 2021
The Wall Street establishment and the Reddit, Robinhood-fueled meme stock traders don’t see eye to eye, on just about anything. In fact, rolling eyes at the stock market’s traditional ways is inherent in trades like GameStop and AMC Entertainment.
Warnings from the market greats, like Warren Buffett, may as well be a badge of honor among the new traders. But one thing Buffett hasn’t noted in his criticisms of the “casino” atmosphere of this bull market and companies like Robinhood, which he has thoroughly beat on, is that when he was a young investor himself he had a fondness for “cigar butt” stocks — the dregs of the market, companies with a few puffs left in them — before he graduated to a more refined kind of investing that made him a billionaire. And that Buffett footnote raises an important point about the market’s newest investors. Continue reading “Article: Former SEC chair on the market risks even meme stock traders can’t afford to ignore”
Bitcoin Ban Upheld at Danske Bank Amid Growing Client Demand
Christian Wienberg and Niclas Rolander, 18 June 2021
Danske Bank A/S says it won’t lift a ban on trading Bitcoin and other cryptocurrencies on its platforms, despite growing interest from clients.
Denmark’s biggest bank pointed to a lack of transparency and regulation in crypto trading, in a statement on its website. It also warned of volatile and “opaque” pricing, and noted that the carbon footprint of mining cryptocurrencies is at odds with Danske’s goal of doing sustainable banking. Continue reading “Article: Bitcoin Ban Upheld at Danske Bank Amid Growing Client Demand”
Hindenburg Research Shorts One of the Biggest SPAC Winners: DraftKings
Michelle Celarier, 15 June 2021
Nate Anderson’s Hindenburg Research, the short activist firm that burst onto the scene last fall with an exposé of electric truck maker Nikola, is back with its fifth big takedown of a special-purpose acquisition company.
This time Anderson has set his sights on DraftKings, the online gambling site which went public in one of the hottest SPAC deals of 2020. His firm alleges that DraftKings has “extensive dealings in black-market gaming, money laundering, and organized crime.” Continue reading “Article: Hindenburg Research Shorts One of the Biggest SPAC Winners: DraftKings”
Catching Rides on Meme-Mafia Trades May Boil Down to Models
Lu Wang, 13 June 2021
Staring at a meme stock craze that shows few signs of abating, Wall Street is still wrestling with how to trade it.
Many traders scroll through Reddit blogs that cheer on day traders to suss out the next big thing. Others obsessively track Stocktwits citations. There are even firms hiring WallStreetBets veterans to get inside the heads of the people who call themselves apes with diamond hands. Continue reading “Article: Catching Rides on Meme-Mafia Trades May Boil Down to Models”