Posts Tagged ‘NY pension fund’

Texas AG Candidate Sues Goldman et al For Causing “Recession, Unemployment” And Everything Else That’s Bad

Texas AG Candidate Sues Goldman et al For Causing "Recession, Unemployment" And Everything Else That’s Bad

Courtesy of Zero Hedge’s Tyler Durden

Yesterday, NY’s pension fund sued BP for having the temerity to see its shares drop. Today, the Democratic candidate for Texas  AG has filed a Legal Complaint and Legal Brief against Goldman Sachs et literally al for "causing financial crisis and physical harms; recession; unemployment; home and wealth loss; forced cutbacks in a wide variety of critical areas, including medical care, social services, and environmental protection" and pretty much everything that is bad in the world. Tomorrow, one million Americans file a class action lawsuit against E-Trade for experiencing a downday.

In an action that is undoubtedly predicated by the plunging cash coffers and the drop in Texas pension funds, coupled with Wall Street’s less than stellar popularity rating, the Democrat candidate for Texas Attorney General, Barbara Ann Radnofsky, has decided to put the two together, and to get her campaign off to a rock solid start, by suing Goldman Sachs Group, Morgan Stanley, UBS, Merrill Lynch/BOA, Citigroup, Credit Agricole, Credit Suisse, Deutsche Bank ("the Banks"), Moody’s, Standard and Poor’s, Fitch (“the Ratings Agencies”), AIG Insurance Company (AIG) and other John Doe defendants. The basis of the lawsuit apparently comes from this: "the U.S. Supreme Court recognizes the State’s right to sue to protect its physical and economic well being and that of its citizens and the State’s possession of Quasi Sovereign Interests in physical wellbeing and economic prosperity. The doctrine permits damages from such underlying theories as common law fraud and RICO, and survived Motions to Dismiss in the State tobacco litigation."

In other words the vampire squid has become nothing more than a pack of cigarretes: Goldman Lights (recessed filter) anyone? Soon, we will be adding cancer to the list of evils unleashed upon the world at the breaking of the seventh seal.

Not sure what to make of this – you see we have no legal Ph.D., but blaming someone for all the troubles in one state based on years of imprudent and reckless decisionmaking, coupled with legislative and regulatory capture, sure sounds like the July 4th thing to do. Some Ph.D.’s who however are smarter than us, and as a result can opine (in this case affirmatively), are the following:

"Having reviewed the Complaint, and bringing their expertise to explain this action as viable, reasonable, plausible


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Phil's Favorites

#DeleteFacebook is still feeding the beast - but there are ways to overcome surveillance capitalism

 

#DeleteFacebook is still feeding the beast – but there are ways to overcome surveillance capitalism

Not creepy at all. antb / Shutterstock.com

Courtesy of Yuwei Lin, University of Stirling

In the wake of the Cambridge Analytica scandal, many people are questioning whether or not to delete their Facebook accounts. It’s not the first time this has happened. I can’t recall how many times I have seen calls to boycott Facebook – on Facebook – ever since I started using the social media platform.

But many peopl...



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Zero Hedge

Facebook Moves 1.5 Billion Users' Data Out Of Europe To Circumvent New Privacy Law

Courtesy of Zero Hedge

This doesn't bode well for Facebook CEO Mark Zuckerberg and what remains of his tattered credibility.

After Zuck suggested (but stopping short of promising) during testimony before Congress last week that he would treat all Facebook users' data as if it fell under the European Union's new General Data Protection Regulation, Reuters and the ...



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Digital Currencies

Cryptos Continue To Surge As Tax-Day Passes

Courtesy of ZeroHedge. View original post here.

Crytpocurrencies are continuing their post-tax-day gains with Bitcoin above $8500, Ethereum at almost $600, and Ripple up over 30% on the week.

With Bitcoin back above $8,500...

And Ethererum is back above $550 - testing towards $600...

Certainly for now, the anecdotal performa...



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Insider Scoop

Cowen Says The Big Sell-Off In Skechers Is A Buying Opportunity

Courtesy of Benzinga.

Related SKX 25 Stocks Moving In Friday's Mid-Day Session Mid-Day Market Update: Skechers USA Falls After Weak Q2 Guidance; Ericsson Shares Climb...

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Chart School

Short Opportunity II

Courtesy of Declan.

The first chance for a short play got burned but there is a second one on offer for the S&P.

The S&P tagged channel resistance and while today's reversal off resistance didn't amount to a big percentage loss it did register as a distribution day. There wasn't any significant technical change so if this short does evolve it will do so with risk measured on a move above 2,717.


The Nasdaq may match a 'bearish evening star' but if this is the case there has to be a significant move lower tomor...

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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Biotech

How your brain is wired to just say 'yes' to opioids

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

 

How your brain is wired to just say ‘yes’ to opioids

A Philadelphia man, who struggles with opioid addiction, in 2017. AP Photo/Matt Rourke

Courtesy of Paul R. Sanberg, University of South Florida and Samantha Portis, University of South Florida

...

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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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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

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

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

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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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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