One thing to start: The FT holds its third annual Business of Football Summit on February 17-18. The latest to join a star-studded speaker list is Softbank International CEO and Inter Miami co–owner Marcelo Claure. Register to watch the virtual event here. Marcelo Claure: new signing © Alex Wong/Getty In this edition of Scoreboard, we
Month: January 2021
Finance industry stalwarts are responding to the market mania triggered by retail traders on Reddit. They’re not impressed. BlackRock Vice Chairman Philipp Hildebrand called the phenomenon irrational “nonsense,” while Morgan Stanley CEO James Gorman said those involved are in for a “rude awakening.” “It is not surprising when you think about how much liquidity is
Bitcoin has often been described as the “digital gold” of the 21st century, but is the cryptocurrency truly reliable as a new safe haven against financial uncertainty and inflation? The question is a difficult one to answer, but the actions of a number of major institutions and the sentiments of some well-renowned investment managers suggest
The modern live-work residence was designed and built for Faiya Fredman, the late artist who was a … [+] pillar of San Diego’s contemporary art scene. Lucas Parodi | Willis Allen Real Estate Designed by a celebrated modernist for a titan of San Diego’s art scene, it’s no surprise that this modern residence off the
The Indian government has finally moved forward with a cryptocurrency bill. Entitled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021,” the bill has been listed for consideration in the current parliamentary session of Lok Sabha, the lower house of India’s parliament. It seeks to create a framework for India’s official digital currency to
Read this if you would be interested in getting a $230,000 tax deduction. Escape getty You can sock away $7,000 in a tax-sheltered IRA, if you’re older. You can do $26,000 with a 401(k) deferral. Or you could be using an entirely different vehicle to put the contribution deep into six-figure territory. Up for discussion
Federal Reserve Bank of Dallas President Robert Kaplan predicted an “enthusiastic” internal discussion over the U.S. central bank’s massive bond-buying program, while vowing to be patient in judging when the economy has made sufficient progress to warrant scaling it back. “I don’t want to associate or even think about associating a time frame with that,”
Chalice Mining said today its step-out and resource definition drilling at the ~1.6km x >0.8km Gonneville Intrusion continues to expand the Julimar PGE-Ni-Cu-Co-Au discovery. The Julimar Nickel-Copper-PGE Project was staked in early 2018 and is located ~70km north-east of Perth on private farmland and State Forest. The company said high-grade G1-G5 zones extended and six
We are on the cusp of some amazing things in the precious metals markets… James Anderson on Palisades Gold Radio Tom welcomes back James Anderson from SD Bullion. James discusses the above-average volume of gold that moved into the US last year. The Comex has delivered a considerable amount, but he remains skeptical of their
Coronavirus stocks played a massive part in the stock market’s 2020 narrative. However, in 2021, so far, Moderna (MRNA) has continued last year’s performance. Shares are already up 66% this month, as Moderna keeps hitting all the right notes. This week provided another catalyst for share appreciation. The biotech disclosed that its Covid-19 vaccine mRNA-1273
Small investors outsmarted the smart money, and the war between the Reddit traders and hedge funds seems to have made an indelible mark on Wall Street. Big investors or hedge funds, who hold short positions in individual stocks, saw some of these positions come under siege from a large cohort of small investors, many of
by confoundedinterest17 US equivalent rent of residences continues to fall like a paralyzed falcon to 2.2% YoY. Today’s report on PCE YoY printed at 1.45%. And the Taylor Rule (Rudebusch) based on a 1.45% Core PCE reading is …1.45%! IF Powell & Co pay attention to this specification of the Taylor Rule (they haven’t in the
Hedge funds are alternative investments that use a variety of methods such as leveraged derivatives, short-selling, and other speculative strategies to earn a return that outperforms the broader market. Hedge funds invest in domestic and international markets alike. They typically impose $1 million minimums and target high-net-worth individuals, pension funds, and institutional investors. As a
Andrew Left, founder and CEO of Citron Research Adam Jeffery | CNBC Citron Research, which was forced to close out its short position in GameStop amid a frenzy in retail buying, said Friday it will no longer publish short reports and instead will focus on long positions. “After 20 years of publishing Citron will no
Chinese military aircraft simulated missile attacks on a US aircraft carrier during an incursion into Taiwan’s air defence zone three days after Joe Biden’s inauguration, according to intelligence from the US and its allies. The People’s Liberation Army sent 11 aircraft into the south-western corner of Taiwan’s air defence zone on January 23, and 15
In January 2018, the head of a Nissan business unit that handled travel bookings for top executives approached the company’s in-house auditor with a problem involving first-class plane tickets and a stunning rebate demand. Carlos Ghosn could not have possibly known it but the first domino had just fallen on one of the most celebrated
Despite a substantial dip in wealth management earnings and a headcount of financial advisors that remains roughly flat, Ameriprise brought in record net new assets. Low interest rates amid the coronavirus cut the Ameriprise Advice and Wealth Management division’s earnings by $92 million in the fourth quarter — closing out a year that saw its
On Jan. 29 Bitcoin (BTC) price briefly rallied to $38,500 before retracing the move and spending the majority of the day struggling to reclaim $35,000. The wild breakout in Bitcoin price has partially been attributed to Elon Musk changing his Twitter profile to simply “#Bitcoin,” which Musk subsequently followed up with a cryptic tweet saying
Miami’s hot real estate market continues getty Miami’s luxury hot luxury real estate market shows no signs of cooling down. Everyday boldface names in the media announce they are moving to Miami. From out of favor politicians to film stars to mid-list celebrities to Wall Street billionaires Miami is the current must-have address. According
Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars, PCs, laptops, smartphones, and cryptocurrency mining devices. Moreover, the recent shortage has invoked the demand
You’ve won the lottery, and it was a “B”iggie, as in “B”illions of dollars. Now what? The holders of two tickets faced that question last week. On Jan. 22, in Michigan, a Mega Millions ticket hit the jackpot at $1.05 billion. Two days earlier, on Jan. 20, in Maryland, a winning Powerball ticket rang up
Municipal secondary activity was quiet Friday but weakness in U.S. Treasuries and an unsettled equities market led to small cuts to triple-A benchmarks around the five- to 10-year part of the curve. About $7.44 billion of issuance is expected for the first week of February, up from the $5.95 billion issued the last week of
[embedded content] Plans to short-squeeze silver to never before seen prices circulated on Reddit. Silver has seen price action to the upside yesterday as a result, with silver stocks climbing in response. Ultimately, pushing silver up to $1,000 an ounce is a practically, near-impossible thing to do, said Peter Hug, Global Trading Director of Kitco
At some point the price of Bitcoin will collapse just as suddenly as it did after the 2017 parabolic move. That collapse may… by Dave Kranzler of Investment Research Dynamics “There was euphoria in stocks and cryptos late in 2017, but now we are seeing much more retail participation. There was a lot of optimism
We’ve talked a lot here about how the ongoing corona crisis has pushed large parts of the white-collar work sector online. But office work is not the only aspect of life that has been ‘digitized’ by the pandemic; online gaming has also gotten a boost. Social lockdowns have kept people in their homes, and even
Traders work on the floor of the New York Stock Exchange. NYSE Earnings news from Amazon and Alphabet, the important January jobs report and Washington’s discussion of stimulus could all be important to markets in the week ahead, but none of it is likely to get more attention than the short squeezes driven by retail
by Tom McClellan The Jan. 27 VIX pop was fueled by worries over Reddit-inspired traders making a raid upon the established order, which threatened the sanctity of the Wall Street machine and the hedge funds which are part of that machine. Traders feared for the loss of their comfortable and normal situation, and so they bid
Elon Musk has been hailed as a genius. He’s also been dubbed a “modern-day Tony Stark.” And, at this point, few would deny that he’s a talented entrepreneur. However, some amount of his notoriety is the result of his antics, especially his performances on the social media platform Twitter. In 2018, on April Fool’s Day,
CNBC’s Jim Cramer on Friday complimented the retail traders who helped spark the massive run up in GameStop shares, but advised they take their profits now. “Take the home run. Don’t go for the grand slam. Take the home run. You’ve already won. You’ve won the game. You’re done,” Cramer said on “Squawk on the
Vaccine manufacturer Moderna has told Italy and France it will deliver fewer doses than expected in February, in another blow to struggling coronavirus vaccination plans in the EU. Domenico Arcuri, the Italian special commissioner in charge of Italy’spandemic response, said Moderna had told Rome that delivery volumes would be 20 per cent less than planned
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