Headlines 

A Trader Named Morgan Stanley Just Left Morgan Stanley

Morgan Stanley. No, really. The fixed-income trader, who just happens to share a name with the 82-year-old Wall Street firm, has left the bank, a person with knowledge of the matter said. Stanley joined in 2012 after graduating from Boston College, according to records from the Financial Industry Regulatory Authority. Stanley, whose middle name is Adam, didn’t return LinkedIn messages seeking comment on his next career move. A spokesman for the New York-based bank declined to comment. Read more: http://www.bloomberg.com/news/articles/2018-04-17/morgan-stanley-leaves-morgan-stanley-yes-you-read-that-right

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Odds and Ends 

Snap is reportedly laying off around 100 employees

Snap is laying off around 100 employees that are part of its engineering staff, according to multiple reports from CNBC and Cheddar. The company expects to lay off as many as 100 people in the engineering department, according to those reports. It’s another sign of potentially re-aligning efforts as it looks to remake itself into something that’s differentiated from products like Instagram, which is repeatedly copying many of Snap’s core features like Stories. With that constant risk of copying at stake, Snap has had to make some drastic moves, like…

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Headlines 

Goldman Says Stocks May Dive 25% If 10-Year Yield Hits 4.5%

If the 10-year U.S. Treasury yield hits 4.5 percent by year-end, the economy would probably muddle through — stocks, not so much, according to Goldman Sachs Group Inc. Goldman’s base-case scenario calls for a 10-year yield of 3.25 percent by the end of 2018, though a “stress test” out to 4.5 percent indicates such a move would cause stocks to tumble, economist Daan Struyven wrote in a note Saturday. He also said the economy would probably suffer a sharp slowdown but not a recession. “A rise in rates to 4.5…

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Odds and Ends 

7 Pricks Who Defied The Odds And Didnt Go Into Finance

The hard truth: Nowadays, if you’re a prick who wants to be anything but a financial analyst, the deck is pretty much stacked against you. We won’t depress you with the statistics, but in short, it’s extremely rare for pricks to make a living in any field other than finance. And yet, amazingly, some do. Here are seven assholes who inspired us by breaking the cycle: <img src=””> Society looks at Sean’s meaty neck, crew cut, and baseball cap and thinks one thing: finance. But Sean is living proof that…

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Odds and Ends 

Researchers find that one person likely drove Bitcoin from $150 to $1,000

Researchers Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman have written a fascinating paper on Bitcoin price manipulation. Entitled “Price Manipulation in the Bitcoin Ecosystem” and appearing in the recent issue of the Journal of Monetary Economics the paper describes to what degree the Bitcoin ecosystem is controlled by bad actors. To many it’s been obvious that the Bitcoin markets are, at the very least, being manipulated by one or two big players. “This paper identifies and analyzes the impact of suspicious trading activity on the Mt. Gox Bitcoin…

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Odds and Ends 

Apples bid to become a $1 trillion company starts this week

While people spend more than $1,000 for the right to eventually get an iPhone X (as well as sell that right to eventually get an iPhone X for more than $1,500), we’re seeing Apple is doing a pretty good job of setting the stage as to whether it can make its case to Wall Street that it can be a $1 trillion company. We’ve noted before that quarterly financial reports from companies are, generally, the moments that consistently swing stock prices for companies. And while Apple is hoarding a ton of cash,…

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Odds and Ends 

Atlassian is on one heck of a run

When Atlassian went public at the end of 2015, it was a bit of an anomaly: a tech IPO whose numbers looked quite good with some profitability. It’s been almost two years since that IPO, and since then, the company’s valuation is at around $9 billion. The company popped 32% on its first day and hit a valuation of $5.8 billion. A lot of that is thanks to an insane run this year so far, where the stock is up more than 65%. And that run continued today after reporting…

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Headlines 

Bitcoin Futures Could Open the Floodgates for Institutional Investors

Bitcoin is spiking to a record after CME Group Inc. said it’s planning to launch bitcoin futures as the move could open the floodgates of investors who have been standing on the sidelines as bitcoin soared over 500 percent this year. The cryptocurrency jumped as much as 5.2 percent to $6,416.39 after the CME said it will start offering trading the derivatives in the fourth quarter. Futures will be settled in cash based on a bitcoin index that CME started calculating in November.  The move comes after the Chicago Board Options…

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Odds and Ends 

Tesla has fired hundreds of employees after performance reviews

Tesla fired hundreds of employees following what the company said is an annual performance review process, the company told TechCrunch. The news was first reported by The Mercury News. “Like all companies, Tesla conducts an annual performance review during which a manager and employee discuss the results that were achieved, as well as how those results were achieved, during the performance period,” a Tesla spokesperson said. “This includes both constructive feedback and recognition of top performers with additional compensation and equity awards, as well as promotions in many cases. As with any company, especially…

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Headlines 

Martin Shkrelis One-of-a-Kind Wu-Tang Album Listed for Sale on EBay

The one and only copy of, an album by the Wu-Tang Clan purchased by former pharmaceutical executive-turned-convicted criminal Martin Shkreli, was listed for sale on EBay at a deep discount to the $2 million he paid for it.  The  Photographer: Peter Foley/Bloomberg The EBay listing for the recording states “this is the one and only Wu-Tang album,” going on to say that Shkreli “decided to purchase this album as a gift to the Wu-Tang Clan for their tremendous musical output. Instead I received scorn from at least one of their (least-intelligent) members,…

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Headlines 

Equifaxs Hacking Nightmare Gets Even Worse For Victims

After Equifax Inc. revealed that sensitive data on two of every five Americans was exposed in a cyberattack, thousands logged onto a company website to see if they were at risk. For many, the site didn’t work at first. But for those who got through, a nasty surprise was waiting. If your data had been stolen, Equifax offered a free year of credit monitoring known as “TrustedID Premier.” But some fine print may also mean that consumers who agree would be giving up the right to sue over many types of…

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Headlines 

Wall Street Banks Are Sending Warning Signals

1) We Could Be Close to a Downturn The rally looks like it’s about to peter out, say analysts at banks like HSBC Holdings Plc, Citigroup Inc., and Morgan Stanley. They’re looking at the relationships between stocks, bonds, and commodities—and they’re worried people may be ignoring fundamentals. “Just like they did in the run-up to the 2007 crisis, investors are pricing assets based on the risks specific to an individual security and industry, and shrugging off broader drivers,” Societe Generale SA 2) The New iPhone Won’t Blow You Away Not with…

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Odds and Ends 

Bitcoin breaks $3,000 to reach new all-time high

Bitcoin has reached a record high valuation of $3,000 per coin to complete a rollercoaster week that begin with the long-awaited split of the cryptocurrency. A number of exchanges, including popular destinationsCoinbase and Kraken, valued a single bitcoin at over $3,000, an all-time high that is up $485 on the valuation one month ago. Earlier this year, Bitcoin surged to surpass $2,000 for the first time in May going on to almost reach $3,000 in June only for the valuation to crash. Over the last twelve hours, bitcoins value has…

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Odds and Ends 

How Apple could become a $1 trillion company

Apple reported its earnings this week, and with a surprisingly positive report the shares spiked again as Apple signaled a potential huge iPhone release. With that jump, Apples market cap is now over $800 billion. This year alone, shares of Apple are up almost 35%. If Apples promise plays out or exceeds what Wall Street hopes for the September quarter, we may soon be asking ourselves whether or not Apple really will fulfill the promise of a company that could hit a market cap of $1 trillion. The company is…

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