Texas will pull some $8.5 billion in investments from BlackRock over its ESG policies, the biggest such divestment after several Republican states have moved to cut ties with firms that conservatives see as privileging liberal goals…
Rehypothecated Leverage: How Archegos Built a $100 Billion Portfolio Out of Thin Air… And Then Blew Up…
One week after the biggest, and most spectacular hedge fund collapse since LTCM, we now have an (almost) clear picture of how Bill Hwang’s Archegos family office managed to single-handedly make a boring media stock the best performing company of 2021, but then when its luck suddenly ended it was margin called into extinction, leading to billions in losses for the banks that enabled what Bloomberg has dubbed its “leveraged blowout.”…
Wall Street’s Trading Secrets: This U.S. Senator Wants to Keep You in the Dark…
On July 29, those savvy market watchers at Themis Trading posted a report on their blog about how a Republican Senator from Louisiana (about 1400 miles from Wall Street) had taken a peculiar interest in the long-delayed system that would shine a bright light on who might be rigging stock trading on any particular day. […]
Dalio Elitism Exposed In New Report Slamming Populism: “Arises From Common Man, Typically Not Well-Educated”…
Back in mid-January Bridgewater’s Ray Dalio, speaking at the World Economic Forum in Davos, offered up his first thoughts on the populist wave sweeping across the globe (we covered it here). And, once you’ve recovered from the laughing fit inspired by the irony of a bunch of billionaires sitting around discussing their displeasure with the […]
But He Gets Millions from Connecticut Taxpayers to Stay Put…
Jon Corzine Settles Over MF Global Collapse: Agrees To Lifetime Ban, $5 Million Fine…
Corzine agreed to pay a $5 million civil fine to settle a lawsuit by the U.S. Commodity Futures Trading Commission over the 2011 collapse of the former New Jersey governor’s brokerage, MF Global Holdings. More importantly, under the settlement disclosed on Thursday, Corzine also agreed to be barred for life and never again work for […]
Hedge Fund Manager Charged In Insider Trading Case Commits Suicide…
U.S. Attorney Preet Bharara in Manhattan charged Sanjay Valvani of fraudulently making $25 million by gaining advance word about FDA approvals of generic drug applications…