Posts Tagged ‘criminal probe’

10 Things You Need To Know That Are Going On This Weekend

SPECIAL EDITION: 10 Things You Need To Know That Are Going On This Weekend

Courtesy of Joe Weisenthal, at Clusterstock 

It’s a Saturday, but it certainly doesn’t feel like it, because there’s a heck of a lot going on. 

Here’s what you need to be paying attention to this May Day.

  • Greece/IMF/EU talks continue. According to Greek government officials, some kind of announcement may be made today. The market is hoping to hear something that’s orders of magnitude stronger than any bailout announcement we’ve gotten so far, or otherwise the feeling will be that it can and will fall through again.
  • Of course, there are fresh violent, anti-austerity protests going on today in Athens. The fact that it’s May Day, a day for celebrating anti-capitalism only adds to the tension.
  • New reports suggest the criminal probe into Goldman Sachs is not just a perfunctory follow-on to the SEC charges, but rather a truly separate thing that’s wider than Abacus, and that started before the SEC’s investigation. HUGE.
  • With just five days before the election, UK’s The Guardian has endorsed the Liberal Democrats, the country’s biggest third party. Its leader, Nick Clegg, has surged thanks to a string of strong debate performances, Gordon Brown’s disastrous campaigning, and a lingering sense of unease with the conservatives.


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    Federal Prosecutors Conducting CRIMINAL Probe Of Goldman Sachs

    Federal Prosecutors Conducting CRIMINAL Probe Of Goldman Sachs

    Courtesy of Joe Weisenthal at Clusterstock 

    Banking CEO's Testify Before House On Use Of TARP Funds

    Following the SEC’s fraud charges against the firm, prosecutors have opened up a criminal probe of Goldman Sachs (GS), the WSJ is reporting this evening.

    There are several things to note here, particularly the fact that an initial probe is no guarantee that charges will actually filed. In fact, such initial probes are common after civil charges are brought.

    Although the ramifications of such a case would be enormous, the significant weaknesses and ambiguities that have emerged in the SEC’s case may make prosecutors gun-shy.

    Lady justice with scales

    Why else?

    Notes WSJ:

    But the Goldman probe presents a significant challenge for the government. Prosecutors in the Brooklyn office of the U.S. Attorney last year lost a high-profile fraud case against two former Bear Stearns Cos. executives, in the first major criminal case linked to the financial meltdown.

    Prosecutors had accused the Bear Stearns employees of lying to investors in 2007 about the health of two funds that eventually collapsed. The case centered on what the government viewed as incriminating emails indicating the traders knew the mortgage market would fall but didn’t disclose that view to investors.

    To bring any criminal charges in the Goldman matter, prosecutors would need to believe they had gathered evidence that showed that the firm or its employees knowingly committed fraud in their mortgage business. Proving such intent to break the law typically is the toughest hurdle for prosecutors to clear.

    Read the whole report > 


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    Phil's Favorites

    Is Facebook today's Compuserve? How Libra could hasten its demise

     

    Is Facebook today's Compuserve? How Libra could hasten its demise

    Will Libra be Facebook’s downfall? (Shutterstock)

    Courtesy of Marc-David L. Seidel, University of British Columbia

    When Mark Zuckerberg was five years old in 1989, two dominant players in telecommunications made a big announcement.

    Compuserve (the first major commercial online service provider) and MCI Mail (one of the first commercial e-mail service providers) introduced commercial e-mail relays to the public internet. These relays connected their centralized networks to the public, outside of their direct con...



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    Zero Hedge

    Yuan, Stocks Erase Mnuchin Ramp

    Courtesy of ZeroHedge. View original post here.

    The overnight ramp in yuan and US equity futures - on the back of Mnuchin's comments - has been entirely erased as the algos were taught that tenses matter...

    ...a deal that WAS 90% done is different from a deal that IS 90% done... ...



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    Kimble Charting Solutions

    Metals Bulls Praying This Indicator Does Not Peak Here!

    Courtesy of Chris Kimble.

    Gold has been strong of late as the US Dollar has been weak. This combo has driven the Gold/Dollar ratio to a key price zone and momentum level, that looks to be important to metals bulls.

    This chart looks at the Gold/Dollar ratio over the past 6-years. The long-term trend is down, while the trend over the past 3-years is pretty much flat (sideways trading range).

    The rally of late has the ratio testing the 2018 highs as well as its 38% Fibonacci retracement l...



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    Insider Scoop

    Analysts Say Homebuilder Environment Still Looks Good For Lennar

    Courtesy of Benzinga.

    Lennar Corporation (NYSE: LEN) stock remains attractive in the long term, sell-side analysts said Wednesday after investors sent the share price on a post-earnings roller-coaster ride.

    The homebuilder had a strong ...



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    ValueWalk

    Beyond Meat vs Impossible Burger: Comparing The Vegan Meat Burgers

     

    Beyond Meat vs Impossible Burger: Comparing The Vegan Meat Burgers

    Courtesy of Vikas Shukla, ValueWalk

    Pexels / Pixabay

    The trend of vegan food has been gathering momentum in the last few years as people become more health conscious. They have also begun to realize the environmental impact of raising meat for human consumption. According to PETA, it takes an estimated 1...



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    Chart School

    Formula for when the Great Stock Market Rally ends

    Courtesy of Read the Ticker.

    When valuations for the boring water company or the boring electric company is trading like your Facebook, Apple, Amazon or Netflix or Google (ie FANG) you know something is wrong.

    This is when a seriously over valued market is screaming at you.

    Of course the reader must understand in a world where money printing goes super nuts (Zimbabwe style) the stock market may go hyper inflationary and picking a time frame for a top is never a good idea, but we are not there yet. There is no Ben Bernanke helicopter money to the masses yet (ie MMT). 

    To see when water company's (and such like) are nearing the crazy FANG like valuations a review of the Dow Jones Utility Index channel shows us how history can repeat. The c...

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    Digital Currencies

    Cryptocurrencies are finally going mainstream - the battle is on to bring them under global control

     

    Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

    The high seas are getting lower. dianemeise

    Courtesy of Iwa Salami, University of East London

    The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what ...



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    Biotech

    Consumer genetic testing customers stretch their DNA data further with third-party interpretation websites

    Reminder: Pharmboy is available to chat with Members, comments are found below each post.

     

    Consumer genetic testing customers stretch their DNA data further with third-party interpretation websites

    If you’ve got the raw data, why not mine it for more info? Sergey Nivens/Shutterstock.com

    Courtesy of Sarah Catherine Nelson, University of Washington

    Back in 2016, Helen (a pseudonym) took three different direct-to-consumer (DTC) genetic tests: AncestryDNA, 23andMe and FamilyTreeDNA. She saw genetic testing as a way...



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    Members' Corner

    Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

    Are you ready to retire?  

    For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

    Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

    Still, the stock market has been better over the last 10 (7%) an...



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    Mapping The Market

    It's Not Capitalism, it's Crony Capitalism

    A good start from :

    It's Not Capitalism, it's Crony Capitalism

    Excerpt:

    The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

    This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...



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    OpTrader

    Swing trading portfolio - week of September 11th, 2017

    Reminder: OpTrader is available to chat with Members, comments are found below each post.

     

    This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

    We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

    Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

    To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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    Promotions

    Free eBook - "My Top Strategies for 2017"

     

     

    Here's a free ebook for you to check out! 

    Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

    In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

    This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

    Some other great content in this free eBook includes:

     

    ·       How 2017 Will Affect Oil, the US Dollar and the European Union

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    About Phil:

    Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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