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Japan’s Largest Bank Is Preparing For A Bitcoin Exchange Collapse

The February 2014 collapse of Tokyo-based bitcoin exchange Mt. Gox was, for more than 24,000 investors around the world, a traumatic event. It also ushered in a two-year crypto bear market that saw the price of a single bitcoin plunge from a peak of $1,200 to a low of around $200 before the torrid bull […]

Druckenmiller: “I’ve Had A Terrible Year… It’s Going To Be My First Down Year In Currencies Ever”

With the B in CNBC now officially standing for “Bitcoin”, it was inevitable that Stanley Druckenmiller, the CEO of the Duquesne family office would immediately get a question about the soaring cryptocurrency during his Tuesday interview with Kelly Evans, whose explosive price the Dusquesne asset manager attributed – just like Citi did back in June […]

Venezuela Signs $3.2 Billion Debt Restructuring Deal With Russia

As Venezuela teeters right on the brink of complete financial collapse, Bloomberg reports that Russia has agreed to restructure roughly $3.2 billion in outstanding obligations.  While details of the restructuring agreement are scarce, both sides reported that the deal spreads payments out over 10 years with minimal cash service required over the next six years. […]

“Google & Facebook Are 1984” – Tax Them ‘Til They Bleed

Authored by Raul Ilargi Meijer via The Automatic Earth blog, An entire library of articles about Big Tech is coming out these days, and I find that much of it is written so well, and the ideas in them so well expressed, that I have little to add. Except, I think I may have the […]

Fintech Revolution – Finance Professionals Rushing To Take Courses As Career Hedge

Fintech, blockchain and A.I. are revolutionising the banking industry and have the potential to replace a significant percentage of the human capital, eliminating a chunk of their cost bases. Last month, former Citi CEO, Vikram Pandit, was particularly pessimistic, claiming that 30% of jobs could be lost in the next five years. As CNBC reports, […]

Mexico’s “Legendary” Oil Hedging Desk Spent $1.25 Billion On 2018 Puts

Mexico’s "legendary" oil hedgers (profiled her emost recently one year ago and by Bloomberg in this exhaustive article) are confident that prices won’t linger above $50 a barrel, because this summer, which is why the world’s most-active sovereign oil-trading desk spent a near record $1.25 billion on put options to lock in export prices for […]

UBS CEO On Brexit – “More And More Unlikely” It Will Move 1,000 Jobs Out Of London

With Brexit negotiations still at a delicate stage, here’s the first bit of good news for the City of London in some time… As The Telegraph reports, the boss of Swiss bank UBS has said plans to move 1,000 jobs from London as a result of Brexit are now looking "more and more unlikely".  Chief Executive Sergio Ermotti said […]

How A Quant Hedge Fund Surpassed Renaissance And DE Shaw To Become A $50 Billion Behemoth

In a time when traditional long/short, macro and other fundamental-analysis based hedge funds are losing the war to ETFs and passive investing… … one group of funds is thriving, and none more so than quant powerhouse Two Sigma which according to the FT, has quietly grown assets under management mark over $50 billion “putting it […]

“There’s No Fraud” – JPMorgan Derivatives Trader: “Bitcoin Was Born Of Banker Discontent

Via ValueWalk.com, I spent nearly six years on the derivatives desk at JP Morgan here in Hong Kong. I held the CEO Jamie Dimon in extremely high regard, as I think did most other employees, and many others in the finance industry. He’s probably one of the most highly respected bank CEOs around. But at […]

“Winter Is Here” For Housing – Whalen Warns “The Crowd Of Buyers Is Thinning”

Following this morning's plunge in new home sales…   After household formation collapsed in June… It appears Institutional Risk Analyst's Chris Whalen is spot on with his mortgage finance update: "Winter Is Here"… After several weeks on the road talking to mortgage professionals and business owners, below is an update on the world of housing […]