Tag: Money
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In 2012, investor Garry Tan got an e-mail. A young Airbnb engineer named Brian Armstrong had sent him a tiny fraction of a bitcoin, worth just a few cents. But this message piqued his curiosity. How many people send you money for nothing? Tan happened to be one of the…
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+ Angel Investor, Coinbase, Crypto, Cryptocurrencies, Investing, IPOs, Money, Silicon Valley, Stocks, Tech, Venture Capital+
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Melvin Capital, the hedge fund that dug itself into a hole during the GameStop saga, extended its first-quarter losses to 49%. The firm, founded by portfolio manager Gabe Plotkin, saw a 53% decline in January, reversed some of that loss by gaining 22% in February, but slid another 7% in…
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+ Business+ Finance, Gamestop, GME, Investing, Meme stocks, Money, Personal finance, Reddit, Retail, Stock Market, Stocks, Video games, Wallstreetbets+
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Social-media trading star Keith Gill, known by his social-media nickname Roaring Kitty posted what is believed to be a screenshot of his trading portfolio to Reddit Wednesday afternoon that may show a massive position in videogame retailer GameStop Inc. made up of almost $19 million in equity and $8.9 million…
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+ Business+ Gamestop, GME, Hedge funds, Investing, Meme stocks, Michael Jordan, Money, NBA, Personal finance, Reddit, Stock Market, Stocks, Wallstreetbets+
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Special Purpose Acquisition Companies, or SPACs, have become all the rage in the last year. These “blank check” companies raise money from investors and then look for a company to acquire. They’re multiplying like rabbits: More than 300 such blind pools have come public so far this year according to…
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+ Business+ Acquisitions, Finance, Financial markets, Investing, M&A, Mergers, Money, Personal finance, Private companies, SPACs, Stocks, Tech+
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Nestled in the Austrian Alps is the tiny village of Worgl. In 1932, as the world economy was in the depths of the Great Depression, Worgl too had fallen on hard times: What followed was one of the most radical economic experiments in history. The town created a new form…
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Stimulus checks for $1,400 went out this month to most Americans. I found myself wondering today, did they save it, invest it, or just blow it? Data indicates that the biggest use of stimulus funds has been to pay down debt. A Census Bureau survey found 52% of people mostly…
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Shortly after giving blood a week ago, I availed myself of the blood center’s free cookies and magazines. I flipped to an article about banking in poor, mostly black areas of the rural south: …the national banks discourage poorer—and less profitable—clients through minimum-balance requirements and fees. And in many small…
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+ Business+ African-American, Banks, Black, Discrimination, Finance, Immigration, Money, Personal finance, Rural, Unbanked+
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As Rocket Companies jumped over 70% yesterday, short sellers are feeling the pain: A surge in the shares of U.S. mortgage provider Rocket Companies on Tuesday is estimated to have inflicted losses of $813 million on short-sellers, data from financial analytics firm Ortex showed. More here. Given that this is…
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Citadel CEO Ken Griffin claims that even though they pay Robinhood to execute their trades, investors are getting a better deal than they would in public stock markets: Citadel CEO Ken Griffin said Thursday that the system has been “very important to the democratization of finance. It has allowed the…
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My main business is investment, and some recent developments have gotten me thinking about where markets are headed this year. An end to the pandemic by Q2 2021 is predicted by multiple models (here and here). We’ve seen a substantial increase in personal income in 2020, largely due to the…
Tremendous 