The Most Impressive Prediction of All Time
(youtubetranscriptoptimizer.com)
I've always been impressed when people can truly predict the future. Perhaps it's from my years working as a professional investor at hedge funds, but when someone makes a concrete, explicit prediction— particularly one that is highly contrarian and non-consensus at the time (which is the only way to make truly outsized returns in the market)— I sit up and take notice.
I've always been impressed when people can truly predict the future. Perhaps it's from my years working as a professional investor at hedge funds, but when someone makes a concrete, explicit prediction— particularly one that is highly contrarian and non-consensus at the time (which is the only way to make truly outsized returns in the market)— I sit up and take notice.
Apple denies App Store profit margin is 75% – claims to have no clue
(9to5mac.com)
Apple’s incoming CFO didn’t get much time to settle in before he found himself in court defending the company against a class action lawsuit. Kevan Parekh yesterday claimed that the company that it has no clue about its App Store profit margin.
Apple’s incoming CFO didn’t get much time to settle in before he found himself in court defending the company against a class action lawsuit. Kevan Parekh yesterday claimed that the company that it has no clue about its App Store profit margin.
US state regulators fine Block Inc $80M for insufficient AML controls
(yahoo.com)
US state regulators fine Block Inc $80 million for insufficient money laundering controls
US state regulators fine Block Inc $80 million for insufficient money laundering controls
I have made the decision to disband Hindenburg Research
(hindenburgresearch.com)
As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research.
As I’ve shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research.
SEC sues Musk for late reveal of Twitter share purchases
(theregister.com)
America's financial watchdog has sued Elon Musk, alleging the billionaire failed to disclose his acquisition of Twitter shares in a timely manner and was therefore able to acquire the social network for $150 million less than would otherwise have been the case.
America's financial watchdog has sued Elon Musk, alleging the billionaire failed to disclose his acquisition of Twitter shares in a timely manner and was therefore able to acquire the social network for $150 million less than would otherwise have been the case.
U.S. Judges Demand SEC 'Explain Itself' for Rebuffing Requests for Crypto Rules
(coindesk.com)
The U.S. Securities and Exchange Commission must now thoroughly "explain itself" for refusing to grant Coinbase.'s formal request that the agency write regulations for how the industry should assess whether crypto assets are securities or not, according to a circuit-court ruling on Monday.
The U.S. Securities and Exchange Commission must now thoroughly "explain itself" for refusing to grant Coinbase.'s formal request that the agency write regulations for how the industry should assess whether crypto assets are securities or not, according to a circuit-court ruling on Monday.
eBay acquires Caramel to reduce risk and complexity of online car sales
(techcrunch.com)
E-commerce giant eBay has announced plans to acquire Caramel, a startup that helps car sellers and buyers complete the final steps of the transaction — including verification, financing, paperwork, ownership transfer, insurance, and more.
E-commerce giant eBay has announced plans to acquire Caramel, a startup that helps car sellers and buyers complete the final steps of the transaction — including verification, financing, paperwork, ownership transfer, insurance, and more.
Russia's Hidden War Debt
(navigatingrussia.substack.com)
Moscow has been stealthily pursuing a dual-track strategy to fund its mounting war costs. One track consists of the highly scrutinized defense budget, which analysts have routinely deemed “surprisingly resilient.” The second track—largely overlooked until now—consists of a low-profile, off-budget financing scheme that appears equal in size to the defense budget.
Moscow has been stealthily pursuing a dual-track strategy to fund its mounting war costs. One track consists of the highly scrutinized defense budget, which analysts have routinely deemed “surprisingly resilient.” The second track—largely overlooked until now—consists of a low-profile, off-budget financing scheme that appears equal in size to the defense budget.
Ask HN: Do you pay your children for good grades?
(ycombinator.com)
Curious to hear the HN crowd take on this.
Curious to hear the HN crowd take on this.
Wall Street Expected to Shed 200k Jobs as AI Erodes Roles
(bloomberg.com)
Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to Bloomberg Intelligence.
Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to Bloomberg Intelligence.
JPMorgan reportedly ending remote work for more than 300k employees
(forbes.com)
It’s JPMorgan’s turn. AT&T did it. Amazon did it. Walmart did it too. Many large corporations and institutions are calling quits on remote work. And now, JPMorgan Chase, the largest bank in the U.S., reportedly plans to end remote work and require more than 300,000 employees to work from the office five days a week.
It’s JPMorgan’s turn. AT&T did it. Amazon did it. Walmart did it too. Many large corporations and institutions are calling quits on remote work. And now, JPMorgan Chase, the largest bank in the U.S., reportedly plans to end remote work and require more than 300,000 employees to work from the office five days a week.
California Fires Expose a $1T Hole in US Home Insurance
(bloomberg.com)
The wildfires terrorizing Los Angeles this week have been like something out of a movie: vast, fast-moving, unpredictable, merciless.
The wildfires terrorizing Los Angeles this week have been like something out of a movie: vast, fast-moving, unpredictable, merciless.
On Bubble Watch
(oaktreecapital.com)
Exactly 25 years ago today, I published the first memo that brought a response from readers (after having written for almost ten years without receiving any). The memo was called bubble.com, and the subject was the irrational behavior I thought was taking place with respect to tech, internet, and e-commerce stocks.
Exactly 25 years ago today, I published the first memo that brought a response from readers (after having written for almost ten years without receiving any). The memo was called bubble.com, and the subject was the irrational behavior I thought was taking place with respect to tech, internet, and e-commerce stocks.
India's payment push is cutting out Visa and Mastercard
(techcrunch.com)
As digital payments morph into strategic assets, India is offering a template for other nations seeking to reduce dependence on Western payment networks.
As digital payments morph into strategic assets, India is offering a template for other nations seeking to reduce dependence on Western payment networks.
CFPB Approves Financial Data Exchange, Inc. To Issue Standards for Open Banking
(consumerfinance.gov)
Today, the Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule.
Today, the Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule.
Ask HN: Who is accountable for cloud costs in your org?
(ycombinator.com)
Ask HN: Who is accountable for cloud costs in your org?
Ask HN: Who is accountable for cloud costs in your org?
The Fannie and Freddie trade is back
(bloomberg.com)
The Fannie Mae and Freddie Mac saga has been going on for, depending how you count, 16 years, or perhaps many decades.
The Fannie Mae and Freddie Mac saga has been going on for, depending how you count, 16 years, or perhaps many decades.
Market Structure Primer (2019)
(prooftrading.com)
The purpose of this document is to provide an overview of the US equity trading landscape. It started as an onboarding document to help new hires who aren't as well versed in market structure. It can be read start to finish in order, or you can jump around. The visual Life Cycle of an Order also provides a handy view of the various events and entities involved in the process of a trade - from conception to completion.
The purpose of this document is to provide an overview of the US equity trading landscape. It started as an onboarding document to help new hires who aren't as well versed in market structure. It can be read start to finish in order, or you can jump around. The visual Life Cycle of an Order also provides a handy view of the various events and entities involved in the process of a trade - from conception to completion.
JPMorgan Planning to Bring Staff Back to Office Five Days a Week
(bloomberg.com)
JPMorgan Chase & Co. is preparing to tell all its employees to return to the office five days a week, ending a hybrid-work option for thousands of staff and returning to the attendance policy that was in place before the pandemic.
JPMorgan Chase & Co. is preparing to tell all its employees to return to the office five days a week, ending a hybrid-work option for thousands of staff and returning to the attendance policy that was in place before the pandemic.
A hedge fund exodus reshaped global cocoa markets
(japantimes.co.jp)
Behind a record surge in cocoa prices this year, a corner of financial markets that drives the cost of chocolate underwent a seismic shift: The hedge funds that oiled its workings headed for the exit.
Behind a record surge in cocoa prices this year, a corner of financial markets that drives the cost of chocolate underwent a seismic shift: The hedge funds that oiled its workings headed for the exit.
Will FedACH process ACH payments on the National Day of Mourning, Jan 9, 2025?
(moderntreasury.com)
On Thursday, January 9, 2025, the United States will observe a national day of mourning to honor the late President Jimmy Carter. While this is not a federal holiday, it has raised questions about business and banking operations.
On Thursday, January 9, 2025, the United States will observe a national day of mourning to honor the late President Jimmy Carter. While this is not a federal holiday, it has raised questions about business and banking operations.