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DoJ’s great white whale gives them the slip
The U.S. Justice Department New York Southern District’s case regarding JPMorgan and the London Whale has turned into a mess, and had now been dropped… The star witness wrote an unpublished memoir, launched a website, and contradicted the case in a civil deposition… Matthew Goldstein of the New York Times has the story: U.S. Moves […]
What to get the oligarchs next door for a housewarming gift?
Emily Badger of the New York Times’s The Upshot has a great story about the effects of foreign buying on real estate… When the (Empty) Apartment Next Door Is Owned by an Oligarch…
This Italian city got hooked on easy money
The New York Times has a very specific, detailed story about distortions created by governmental intervention in financial markets and the economy, in this case ECB quantitative easing… Jack Ewing tells the fascinating story: Easy Money Saved This Italian City. Soon, It Will Run Out
Over the Counter
Over-the-Counter refers to much more than just the aspirin you buy at a convenience store. In investing, over-the-counter (or OTC) refers to a security traded outside of a formal exchange like the NYSE. Usually these stocks are traded via a dealer network rather than a formal stock exchange. Although Nasdaq operates like a dealer network, […]
Posted in Finance Glossary
It’s getting crowded in quantland
Some very large quant funds are having bad years… Too much money chasing similar trades can easily cause that to happen… Greg Zuckerman of the Wall Street Journal reports the numbers: Flush With Cash, Top Quant Funds Stumble…
Tax man cometh for hedgies
An old hedge fund tax benefit finally ends, after a 10-year phase out… Greg Zuckerman of the Wall Street Journal has the story: Loophole Closed: Hedge-Fund Managers Prepare Huge Tax Checks…
Will quants’ natural market-mellowing agents work forever?
On a day-to-day basis, quant trading seems to be smoothing out the markets and reducing volatility… But will this last forever, or is it just the calm before the storm… The Wall Street Journal’s Heard on the Street examines the case in How Quants Calm the Stock Market…
What’s it going to take for corporates to correct?
Excellent piece by the Bloomberg Gadfly, Lisa Abramowicz: Corporate Bond Traders Play Chicken in Overpriced Market… The corporate bond market has many overpriced securities, but no catalyst yet to make them go down in price…
Yield chasers plow into direct lending
The global scramble for yield continues… Another large player announces a new direct lending fund… Angelo, Gordon’s Twin Brook Capital Partners Raises over $2.3 Billion of Equity…
The case of the vanishing loan docs
Fascinating investigate piece about the soft underbelly of the private student loan market, bad servicing… Stacy Cowley of the New York Times break the story: As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away…
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