Linkfest: QE confessions; China news upbeat; Financial innovation seen harmful
Categories: Linkfest
Today’s most shared: Buyer’s remorse for man who implemented massive QE purchases… China news upbeat as iron market firms, Alibaba sets records, car sales rise… When someone says ‘financial innovation’, hold onto your wallet… President Elizabeth Warren to the rescue? … Tail risk in ‘athlete IPOs.’
Confessions of a Quantitative Easer
Wall Street Journal
“We went on a bond-buying spree that was supposed to help Main Street. Instead, it was a feast for Wall Street. I can only say: I’m sorry, America.”
shared by @ErikSchatzker, @Kelly_Evans, @fiatcurrency, reddit/Economics
Wall Street Journal
“We went on a bond-buying spree that was supposed to help Main Street. Instead, it was a feast for Wall Street. I can only say: I’m sorry, America.”
shared by @ErikSchatzker, @Kelly_Evans, @fiatcurrency, reddit/Economics
Iron Ore Rallying as Cargoes to China Reach Record: Commodities
Bloomberg
Iron ore is extending a bull market on record sales to China that are spurring forecasters from Morgan Stanley to the World Bank to increase price predictions.
shared by @niubi, Reformed Broker, @vshih2
Bloomberg
Iron ore is extending a bull market on record sales to China that are spurring forecasters from Morgan Stanley to the World Bank to increase price predictions.
shared by @niubi, Reformed Broker, @vshih2
Financial Innovation Is Depressing
Bloomberg
Because it seems to be mostly finding legal ways to deceive people into paying too much for stuff they don’t need, or failing that finding illegal ways to do that, or failing that just firing everyone and giving up.
shared by @AmerBanker, @trejdify, @davidenrich, FT Alphaville
Bloomberg
Because it seems to be mostly finding legal ways to deceive people into paying too much for stuff they don’t need, or failing that finding illegal ways to do that, or failing that just firing everyone and giving up.
shared by @AmerBanker, @trejdify, @davidenrich, FT Alphaville
Puerto Rico Distress Spells Wall Street Opportunity
Bloomberg
Puerto Rico debt is having its worst year since 1999 as a shrinking economy strains the island’s finances. For Wall Street banks and law firms, that’s a signal to tout the bonds to investors in distressed debt who don’t typically buy municipal debt.
shared by @Convertbond, @cate_long, @DavidSchawel
Bloomberg
Puerto Rico debt is having its worst year since 1999 as a shrinking economy strains the island’s finances. For Wall Street banks and law firms, that’s a signal to tout the bonds to investors in distressed debt who don’t typically buy municipal debt.
shared by @Convertbond, @cate_long, @DavidSchawel
Suit Charges 3 Credit Ratings Agencies With Fraud in Bear Stearns Case
New York Times
Liquidators seeking to recover money for investors in two hedge funds filed the lawsuit on Monday against Standard & Poor’s, Fitch and Moody’s.
shared by @ritholtz, Naked Capitalism
New York Times
Liquidators seeking to recover money for investors in two hedge funds filed the lawsuit on Monday against Standard & Poor’s, Fitch and Moody’s.
shared by @ritholtz, Naked Capitalism
$4.1m goes missing as Chinese bitcoin trading platform GBL vanishes
coindesk.com
Chinese investors taste the darker side of bitcoin as a trading platform shuts down and $4.1m goes missing.
shared by Business Insider, @JEliasof, @MParekh, @newsycombinator, @Techmeme
coindesk.com
Chinese investors taste the darker side of bitcoin as a trading platform shuts down and $4.1m goes missing.
shared by Business Insider, @JEliasof, @MParekh, @newsycombinator, @Techmeme
Wall Street’s nightmare: President Elizabeth Warren
Politico
NEW YORK — There are three words that strike terror in the hearts of Wall Street bankers and corporate executives across the land: President Elizabeth Warren.
shared by @ReformedBroker, @davewiner, @cate_long, Naked Capitalism, @BuzzFeedBen
Politico
NEW YORK — There are three words that strike terror in the hearts of Wall Street bankers and corporate executives across the land: President Elizabeth Warren.
shared by @ReformedBroker, @davewiner, @cate_long, Naked Capitalism, @BuzzFeedBen
The government’s human price scanners
Washington Post
In a high-tech age, measuring the costs of goods and services across the country is still an in-person job.
shared by @counterparties, @JEliasof, @moorehn, @Kelly_Evans
Washington Post
In a high-tech age, measuring the costs of goods and services across the country is still an in-person job.
shared by @counterparties, @JEliasof, @moorehn, @Kelly_Evans
Shadow banks reap Fed rate reward
Financial Times
Loosely regulated non-bank lenders have emerged as among the biggest beneficiaries of the Federal Reserve’s ultra-low interest rates with three specialist categories increasing their assets by almost 60 per cent since the height of the financial crisis.
shared by Business Insider, @RoubiniGlobal, @Nouriel, @lindayueh
Financial Times
Loosely regulated non-bank lenders have emerged as among the biggest beneficiaries of the Federal Reserve’s ultra-low interest rates with three specialist categories increasing their assets by almost 60 per cent since the height of the financial crisis.
shared by Business Insider, @RoubiniGlobal, @Nouriel, @lindayueh
Injuries for 2 N.F.L. Players in Public Offering Deal
New York Times
Sunday was a bad day for Fantex, the fledgling company promoting initial public offerings of National Football League stars, as its first two prospects were sidelined.
shared by @kevinroose, @JacobWolinsky, @ObsoleteDogma, @ReformedBroker
New York Times
Sunday was a bad day for Fantex, the fledgling company promoting initial public offerings of National Football League stars, as its first two prospects were sidelined.
shared by @kevinroose, @JacobWolinsky, @ObsoleteDogma, @ReformedBroker
Rising Up the Ladder in America: Who’s Upwardly Mobile?
Wall Street Journal
A great many of Americans born into the poorest segments of the population are stuck there for life, a finding that suggests the U.S. has much to do to improve social mobility, according to a study.
shared by @Nouriel, reddit/Economics, @ErikSchatzker, @vali_nasr
Wall Street Journal
A great many of Americans born into the poorest segments of the population are stuck there for life, a finding that suggests the U.S. has much to do to improve social mobility, according to a study.
shared by @Nouriel, reddit/Economics, @ErikSchatzker, @vali_nasr
Financial Holdings of Some SEC Staffers in New York Probed
Wall Street Journal
Federal prosecutors and the Securities and Exchange Commission’s internal watchdog recently probed the personal financial holdings of some SEC employees in New York.
shared by @herbgreenberg, @nasiripour, @EpicureanDeal
Wall Street Journal
Federal prosecutors and the Securities and Exchange Commission’s internal watchdog recently probed the personal financial holdings of some SEC employees in New York.
shared by @herbgreenberg, @nasiripour, @EpicureanDeal
Investors need to starve the hedge fund beast
Financial Times
Asked in the late 1970s how he saw the outlook for the specialist investment vehicles that he is credited with inventing, Alfred Winslow Jones was no optimist. “The hedge fund doesn’t have a terrific future,” he said gloomily.
shared by @JacobWolinsky, @hedge_funds, Naked Capitalism
Financial Times
Asked in the late 1970s how he saw the outlook for the specialist investment vehicles that he is credited with inventing, Alfred Winslow Jones was no optimist. “The hedge fund doesn’t have a terrific future,” he said gloomily.
shared by @JacobWolinsky, @hedge_funds, Naked Capitalism
Alibaba Breaks Sales Record Amid China Singles-Day Rebate
Bloomberg
Alibaba Group Holding Ltd., China’s largest e-commerce company, broke its one-day sales record by more than 80 percent as it heads toward an initial public offering that may be valued higher than Facebook Inc.
shared by @BarbarianCap, @Techmeme, Crossing Wall Street
Bloomberg
Alibaba Group Holding Ltd., China’s largest e-commerce company, broke its one-day sales record by more than 80 percent as it heads toward an initial public offering that may be valued higher than Facebook Inc.
shared by @BarbarianCap, @Techmeme, Crossing Wall Street
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