wall street Tag

Posted On October 26, 2017By BlackbeardIn Articles

Venezuelans turn to Bitcoin to escape currency crisis

By now, most Americans are familiar with the economic basket case that is Venezuela. The country’s economy has collapsed, leaving the population desperate and starving. The human cost is highly visible and tragic, but what gets less attention is the way in which the government has destroyed the country’s currency, thereby making it impossible for citizens to buy basic necessities. It’s a common story in socialist countries. Unable to sustain massive levels of government spending, the state prints more and more money, trading short-term gains for massive inflation. It’s oneRead More
It appears a trend is taking shape. Following a former Goldman HFT trader’s massive initial coin offering, another Wall Street-er has come to the dark side of virtual currencies. A former senior manager at consulting firm Bain & Company, is launching a Bitcoin fund, providing access to the cryptocurrency to some of the wealthiest families in Latin America. Announced today, the newly formed Crypto Assets Fund, co-founded by former senior manager at Bain, Roberto Ponce Romay, is helping to raise $50m with the purpose of buying cryptocurrencies for family offices. Revealed exclusively toRead More

Posted On July 4, 2017By HoudiniIn Articles

“You Think This Market’s Crazy?”

You think this market’s crazy? One day in early 1987, with Wall Street humming, a meeting after trading closed involved several cases of champagne. The Dow Jones Industrial Average had breached 2000 that day, a cause for celebration. A week and a half later, more champagne was ordered when the average passed 2100. Then again a few weeks later for 2200. Eventually my boss stopped buying bubbly when breaking records became the norm. Japanese insurance companies would show up at the brokerage firm where I was a securities analyst and ask for a listRead More
“…people believed that everything was going to be great always, always. There was a feeling of optimism in the air that you cannot even describe today.” “There was great hope. America came out of World War I with the economy intact. We were the only strong country in the world. The dollar was king. We had a very popular president in the middle of the decade, Calvin Coolidge, and an even more popular one elected in 1928, Herbert Hoover. So things looked pretty good.” “The economy was changing in this new America. ItRead More
While America’s corporate press remains singularly obsessed with unproven and likely fabricated Russia-collusion conspiracy theories, Wall Street’s well on its way to getting away with financial murder thanks to an army of cronies embedded within the Trump administration. Indeed, Goldman Sachs running Donald Trump’s economic policy is perhaps the most concerning aspect of his Presidency when it comes to negative impacts on average citizens, yet it’s almost never placed at the forefront of the corporate press narrative. Many of you probably recall headlines in recent weeks about how Trump might be in favor of “bringingRead More
For the first time, a Wall Street that’s been giddy over Donald Trump is starting to ask some hard questions. From Day 1, markets have rallied, defying what many of the same Wall Street types said would be a disastrous election outcome. Since then, U.S. stocks have hit record after record, driving up shares of Goldman Sachs to JPMorgan Chase to Apple, as investors quickly focused on what his pro-business, tax-cutting agenda would mean for corporate profits. But the steady drumbeat of bad news may finally be taking its toll. On Wednesday,Read More
When a new hedge fund opened in Mountainside, New Jersey, a leafy suburb that still holds an annual little-league parade, few would have guessed where much of its funding came from: Chinese billionaire Cai Kui. The credit hedge fund, Westfield Investment, was founded by former Goldman Sachs Group Inc. Managing Director Renyuan Gao and managed $139 million as of January. It’s part of a new crop of asset management firms that are expanding China’s reach on Wall Street as money has poured into the U.S. from the world’s second-biggest economy. China’s marquee namesRead More
TOKYO (April 14): The dollar nursed losses on Friday, on track for a losing week as geopolitical tensions underpinned the perceived safe-haven Japanese currency. The dollar index, which tracks the U.S. unit against a basket of six rival currencies, steadied at 100.560, flat on the day but down 0.6 percent for the week. U.S. President Donald Trump said on Thursday that North Korea is a problem that “will be taken care of,” as China urged caution and speculation rose that Pyongyang might be on the verge of a sixth nuclearRead More
NEW YORK: Global stock markets moved cautiously Wednesday as geopolitical risks continued to gnaw at investor sentiment following last week’s US missile strike on Syria and soaring tensions on the Korean peninsula. Dealers remained on edge over a brewing crisis following the attack in Syria that has damaged ties between the US and Russia over Moscow’s backing for Syrian President Bashar al-Assad. Growing uncertainty ahead of a presidential election in France also kept investors on the sidelines, as did friction between the United States and China over how to manageRead More
NEW YORK, 1 Feb 2017: The US dollar tumbled yesterday, headed for its worst start to a year in three decades, while stocks dipped as president Donald Trump added uncertainty to the market following stringent curbs on travel to the US from seven Muslim-majority countries. Comments from Trump’s top trade adviser Peter Navarro that Germany was using a “grossly undervalued” euro to gain advantage over the US knocked the US dollar in early North American trading. Trump followed up on those comments in a meeting with the chief executives ofRead More