Posts Tagged ‘emails’

Was Fabrice Tourre Cheating On His Girlfriend? Are CDOs Really Nothing More Than “Intellectual Masturbation”?

Was Fabrice Tourre Cheating On His Girlfriend? Are CDOs Really Nothing More Than "Intellectual Masturbation"?

Courtesy of Tyler Durden

Businesswoman pulling rug from beneath other businesswoman

Zero Hedge is currently going through the 100 or so pages of just released Goldman emails that disclose in excruciating detail the events from late 2006 to late 2007 occurring in Goldman’s mortgage trading business. We will have a lot more to say on this tomorrow, suffice to say that we were pleasantly surprised that C-BASS, which we uncovered recently may be implicated in the Goldman SEC fraud scandal, is again involved. We also feel bad for Harvard and MS Prop, and a little better for Hayman Capital. Stay tuned. In the meantime, we will take a brief detour into the financial yellow pages, as we focus on the curious case of Fabrice Tourre, who once again plays a prominent role in today’s email discovery.

The first thing that caught our attention is the original "Fab Fab" email, finally reproduced in its entirety. One tangent that may be relevant to gleaning some more insight into the character of the "fabulous" 27 year-old mortgage god, is that at the time he penned his email to girlfriend (#1), then Goldman co-worker, Marine Serres, he was likely also with girlfriend (#2) Fatiha Bouktouche, a Columbia University post Doc, to whom he may have been disclosing proprietary Goldman holdings and trades. Who knows to whom, when or how Fatiha may have leaked insider trades whispered to her by Fabrice, and who knows what CDO trades Marine was pitching to the retarded (and soon to be bankrupt) European banks gobbling up everything Goldman would sell them, structured and originated by her boyfriend.

We recreate the original email:

From:       Fabrice Tourre
Sent:       Tuesday, January 23, 2007 11:34 PM
To:          Marine Serres
Subject:   Fw: ft--friday

Darling you should take a look at this article… Very insightful…More and more leverage in the system, l’edifice entier riqsue de s’effondrer  a tout moment…. Seul survivant potentiel, the fabulous Fab (as Mitch would kindly call me, even though there is nothing fabulous abt me, just kindness, altruism and deep love for some gorgeous and super smart French girl in London), standing in the middle of all these complex, highly levered exotic trades he created without necessarily understanding all the implications of these monstruosities !!! Anyway, not feeling too guilty about


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Shocked, Shocked to Find That Fraud is Going on in Here

Excellent post, ep’s take on "climate-gate," and the corruption of science by politics. - Ilene

Shocked, Shocked to Find That Fraud is Going on in Here

Courtesy of ep at finem respice/reflection on consequences  

you mean you weren't expecting to find that in there?

The Really Big News™ is actually that there is no really big news. Much is being made of the recent hack of the Hadley Climatic Research Center (the "CRU") whereby over a thousand emails along with documents as well as data and code were lifted and published to an FTP site before being linked to by "The Air Vent" blog and then… the world.

The leak appears to show climate scientists shaping results, strategizing on how best to conceal data and analysis from the public, planning public relations to get their message out irrespective of the most recent data setbacks, debating the best way to influence the "man on the street," discussing means to deal with critics via the press and otherwise, and reacting with barely contained glee to the news of an opponent’s untimely death. While the general consensus is that the most damaging emails appear to reference the now semi-famous "hockey graph" illustration that has been a favorite of the United Nations (and everyone else pushing radical climate change policy) for a decade, I think something much more insidious (and actually quite ordinary) emerges from between the many subject lines. Rank corruption.

Shock and surprise at the conduct of particular individuals within the CRU seem the order of the day. I’m not quite sure why. If, indeed, the disclosures are genuine (and it certainly appears on first blush that they are) how is it news that "scientists" embroiled in what long ago ceased to be scientific research and now amounts to a political campaign would cut corners, sabotage critics, conceal or even destroy data and analysis, massage results and graphics and otherwise act exactly like politicians, particularly where their careers, the body of their life’s work and their continuing income stream were at risk?

It isn’t of course. They are politicians.

The surprise should be that something like this wasn’t revealed earlier. (Well it was, but no one seems to count the glaring errors in Al Gore’s public presentation as relevant for some reason- polish always


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Climate-gate!

Here’s more on the climategate story, from a few different perspectives. – Ilene

Climate-gate!

global warming, tbi

By Andrew Leonard at Salon

Climate skeptics claim hacked e-mails prove, once and for all, that global warming is a hoax

The climate-change obsessed blogosphere — including both those who accept the science behind anthropogenic climate change and those who deny it — is in an absolute uproar today after the revelation that an unknown party hacked into the computer system of an important climate research center and posted hundreds of private e-mails to a Russian FTP server.

To climate skeptics, the e-mails prove that global warming is a conspiracy theory. At Wonk Room, Brad Johnson rounded up the politicized reaction:

  • If you own any shares in alternative energy companies I should start dumping them NOW," says the Telegraph’s James Delingpole.
  • Hot Air’s Ed Morrissey claims the emails discuss "repetitive, false data of higher temperatures."
  • The National Review’s Chris Horner salivates, "The blue-dress moment may have arrived."
  • "The crimes revealed in the e-mails promise to be the global warming scandal of the century," blares Michelle Malkin.
  • The Australia Herald-Sun’s Andrew Bolt claims the emails are "proof of a conspiracy which is one of the largest, most extraordinary and most disgraceful in modern [sic] science."

RealClimate, a blog maintained by real climate scientists, is busy doing damage control. This story will no doubt rage for weeks, so I’m just going to pick one example of the back and forth before trying to take some time to go deeper, if merited…

So what’s going on here? Put aside the question of whether the words "trick" or "hide" have nefarious or innocuous meanings. The scientific problem is that in attempting to reconstruct temperatures in the past, climate scientists are often faced with the problem that there were no humans standing around holding thermometers and writing down temperatures. So scientists use "proxies" — tree rings, or ice cores, or fossilized clams, or lake pollen trapped in sediment…

Overall, the more data we have, the more clear it has become to the vast majority of scientists working in this field that the earth has gotten significantly hotter at an alarming rate in the last century, most likely due to increased concentrations of greenhouse gases in the atmosphere. And if there really is a smoking gun in the…
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Phil's Favorites

Q+A: Boris Johnson tests positive for coronavirus - what happens now?

 

Q+A: Boris Johnson tests positive for coronavirus – what happens now?

He’s felt better. PA.

Courtesy of Nicholas Allen, Royal Holloway

Boris Johnson, the British prime minister, has tested positive for the COVID-19 virus. In a recorded video message, Johnson said he had developed “mild symptoms” and is now in self-isolation. Here are the main issues at play for the UK in this time of crisis.

Will Boris Johnson continue as prime minister?

Johnson has made it clear that he will continue to oversee the government’...



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Zero Hedge

25-Year-Old California Man With No Underlying Conditions Dies Of COVID-19

Courtesy of ZeroHedge View original post here.

While coronavirus deaths have primarily been in those above 50-years-old, the disease has also been sending younger people to the ICU in larger than expected numbers - and in some cases, claiming younger victims.

In France, doctors have reported that 50% of ICU patients are under 60-years-old, while in the Netherlands, half are under 50.

Nearly 50% of c...



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Insider Scoop

'Psyched': Hawaii Considers Resolution For Shrooms, Champignon Eyes Ketamine Products

Courtesy of Benzinga

Psyched is a bi-monthly column covering the most important developments in the industry of medicinal psychedelics. We hope you follow us periodically as we report on the growth of this exciting new industry.

Champignon Brands Buys IP Company and Adds Ketamine and New Formulations To Its Portfolio

On March 19, Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF), a Canadian healt...



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The Technical Traders

These Index Charts Will Calm You Down

Courtesy of Technical Traders

I put together this video that will calm you down, because knowing where are within the stock market cycles, and the economy makes all the difference.

This is the worst time to be starting a business that’s for sure. I have talked about this is past videos and events I attended that bear markets are fantastic opportunities if you can retain your capital until late in the bear market cycle. If you can do this, you will find countless opportunities to invest money. From buying businesses, franchises, real estate, equipment, and stocks at a considerable discount that would make today’s prices look ridiculous (which they are).

Take a quick watch of this video because it shows you ...



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Kimble Charting Solutions

Broadest Of All Stock Indices Testing Critical Support, Says Joe Friday!

Courtesy of Chris Kimble

One of the broadest indices in the states remains in a long-term bullish trend, where a critical support test is in play.

The chart looks at the Wilshire 5000 on a monthly basis over the past 35-years.

The index has spent the majority of the past three decades inside of rising channel (1). It hit the top of this multi-decade channel to start off the year, where it created a monthly bearish reversal pattern.

Weakness the past 2-months has the index testing rising support and the December 2018 lows at (2).

Joe...



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Biotech/COVID-19

Coronavirus treatments and vaccines - research on 3 types of antivirals and 10 different vaccines is being fast-tracked

 

Coronavirus treatments and vaccines – research on 3 types of antivirals and 10 different vaccines is being fast-tracked

Scientific research on the novel coronavirus has progressed at unprecedented speed. Mongkolchon Akesin / Shutterstock

Courtesy of Ignacio López-Goñi, Universidad de Navarra

Just three months after China first notified the World Health Organization about a deadly new coronavirus, studies of numerous antiviral t...



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Chart School

Cycle Trading - Funny when it comes due

Courtesy of Read the Ticker

Non believers of cycles become fast believers when the heat of the moment is upon them.

Just has we have birthdays, so does the market, regular cycles of time and price. The market news of the cycle turn may change each time, but the time is regular. Markets are not a random walk.


Success comes from strategy and the execution of a plan.















Changes in the world is the source of all market moves, to catch an...

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Digital Currencies

Bitcoin Tested As A Safe Haven After Biggest Stock Crash Since 2009

Courtesy of ZeroHedge View original post here.

Authored by Horus Hughes via CoinTelegraph.com,

Gold and Bitcoin react to global panic

Amid all of yesterday's chaos in bond, commodity, and stock markets, with the yield on the 10-year US Treasury note dropping below 0.5% for the first time in history - a strong indicator that investors are desperately looking for safe harbors - two supposed safe-havens in 'alternative currencies' behaved qui...



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Members' Corner

Bloody Mob Sh*t: An Interview with Lincoln's Bible

 

Bloody Mob Sh*t: An Interview with Lincoln's Bible

We talk Trump, Mogilevich, Epstein, Giuliani, Fred Trump, Roy Cohn, and more.

Courtesy of Greg Olear at PREVAIL, author of Dirty Rubles: An Introduction to Trump/Russia

(Originally published on Feb. 21, 20.)

...

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ValueWalk

Entrepreneurial activity and business ownership on the rise

By Jacob Wolinsky. Originally published at ValueWalk.

Indicating strong health of entrepreneurship, both entrepreneurial activity and established business ownership in the United States have trended upwards over the past 19 years, according to the 2019/2020 Global Entrepreneurship Monitor Global Report, released March 3rd in Miami at the GEM Annual Meeting.

Q4 2019 hedge fund letters, conferences and more

The Benefit Of Entrepreneurial Activity ...

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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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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