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Novogratz Delays Crypto Hedge Fund Launch, Warns Of Drop To $8,000 But “Bull Market” Isn’t Over

Last week, Mike Novogratz surprised more than a few market participants by telling CNBC's Fast Money that he was bringing forward the launch date of his crypto hedge fund; today he killed those plans. On December 12th, Novogratz said he thinks bitcoin could hit $40,000 in 2-3 months. The Galaxy Fund was supposed to launch […]

Holiday Spending Set To Hit 12-Year High Thanks To…Debt

Even though consumer confidence cooled for a second straight month in November, CNBC is reporting that holiday spending for the average American household is on track to be the highest in 12 years. Amazingly, the CNBC All-America Survey found that the average family will spend $900 for the first time in the 12-year history of […]

“It’s Done”: Here Is What’s In The Final GOP Tax Bill

Well – for now – that was an anti-climax… *RUBIO IS SAID TO BACK TAX BILL AFTER CHILD CREDIT TWEAKS: CNBC *BRADY SAYS HE HAS ALL SIGNATURES HE NEEDS, "IT'S DONE" But the market seems unimpressed by the 'news'   And even "high tax" names are underperforming…   Here is Bloomberg's breakdown of what we […]

Gartman: “We Are Going To See Tax Legislation Pass Either Tonight Or Tomorrow”

In a dramatic showdown on the Senate floor on Thursday afternoon, the Senate tax bill came this close to being killed by deficit hawks, and in the resulting chaotic aftermath, votes and debates which were scheduled for Thursday evening have now been pushed back to Friday morning. Who could have possibly foreseen it? Well, anyone […]

Momo Massacred, Semis Slaughtered After Topping 2000 Peak, Nasdaq ‘VIX’ Spikes

CNBC busily defending the utter bloodbath in semi stocks as nothing to worry about… but this is the biggest plunge for these market darlings since Brexit (June 2016)… …and just happens to have occurred as the index finally cleared the 2000 dotcom peak…   FANG Stocks are getting smashed – the biggest drop since Feb […]

John Malone Describes Amazon As “Death Star” Moving “In Striking Range Of Every Industry On The Planet”

Famed cable and media investor John Malone, a man who repeatedly manages to cobble together some of the most complicated, and profitable, financial transactions in the world, appeared on CNBC this morning with a message for anyone in the “B2C business”…Amazon is going to use their scale to destroy you.  Speaking with CNBC’s David Faber, […]

Fabrications Of Financial Media Superstars – Part One

Authored by Lance Roberts via RealInvestmentAdvice.com, Every day, the A-listers, those known around the world as household-name financial media royalty, are making public statements that if taken on the surface as actionable advice, are going to lead to unpleasant financial surprises. Not for them. For you. As authorities, no matter what they bloviate about on […]

Netflix Slides, Fox Spikes On Disney Acquisition Headlines

21st Century Fox has been holding talks to sell most of the company to Walt Disney Co., according to CNBC's David Faber, leaving behind a media company tightly focused on news and sports, according to people familiar with the situation. The initial reaction is DIS and FOXA higher and NFLX lower… Cable networks shares are […]

Sprint, T-Mobile Plunge On Report SoftBank Calling Off Merger; Rebound After CNBC Denies

Update: … or maybe not, because shortly after S and TMUS tumbled, CNBC denied the original Nikkei report: SOFTBANK DOESN’T HAVE PLAN TO WITHDRAW FROM SPRINT TALKS: CNBC It is unclear if this announcement was made as a favor to some of the deal’s M&A arbs who are painfully blowing up today, but for what […]

Bezos Beat Batters Bears But Bonds & Bullion Bounce

Overheard on CNBC today… "today we get proof this is not a bubble…" Nope.. h/t @Stalingrad_Poor   So Catalan secedes and Spain loses 22% of its GDP and still the Spanish stock market is outperforming the S&P in USD terms…   Before we start – let's take a quick look at today's cross-asset-class moves – […]

Tax Reform Suddenly In Jeopardy: Corker, McCain And Paul May Not Back Tax Cuts

With pundits attributing the ongoing market rally, which last week manifested itself in a “perfect week” when every single day was a new record high, the first such occurrence in over two decades, to rising hopes that Trump’s tax reform will pass, the worst possible news for the market was that a blocking group of […]

Weekend Reading: Dow 24,000 By Christmas

Authored by Lance Roberts via RealInvestmentAdvice.com, This past week, the Dow crested 23000 sending the networks into a “tizzy.” It took about 5-minutes of crossing that magical “round number,” before questions raised of how long before the markets cross 24,000, and 25,000. The chart below shows the 1000-point milestones of the Dow going back to […]

Marc Faber Racist Diatribe Costs Him CNBC, Fox Slots; Sprott Board Seat

Update: as previewed earlier, Sprott announced that at the request of the Board of Directors and Sprott management, Marc Faber has resigned as a director of the Company effective immediately. “The recent comments by Dr. Faber are deeply disappointing and are completely contradictory with the views of Sprott and its employees,” said Peter Grosskopf, CEO […]

“Tax Reform Is A Pipe-Dream” – Stockman Warns Market Is Heading For Massive Crash

Having raged against President Trump's '1500-word-airball' of a tax reform plan, the Reagan administration's director of the Office of Management and Budget, David Stockman told CNBC this week that Wall Street is "delusional" for believing it will even be passed. "This is a fiscal disaster that when they [Wall Street] begin to look at it, […]

CNBC Viewership Drops To 22 Year Low

It appears that “subdued volatility” is hurting not only bank trading revenues. Two years after CNBC announced that it would no longer rely on Nielsen ratings to measure its daytime audience (just after we reported its viewership had tumbled the most on record), turning to rival Cogent Reports instead, the latest data reveals that the […]