The market...
Trannies ended the week lower (first down-week in 7 weeks), Dow outperformed on the week (4th week up in a row)... The S&P record-high streak is over...
According to prosecutor Carol Sipperly, former HSBC currency trader Mark Johnson used just four words to trigger a massive, international front-running operation that netted his firm some $8 million in illicit profits: "my watch is off."
The bank’s former global head of foreign exchange alerted the traders around the globe via a phone call in December 2011 that was recorded, a prosecutor said Thursday. The gambit was designed to take advantage of a $3.5 billion client order to buy sterling, the U.S. says.
Via The Daily Bell
Patents seem like a good idea on paper. If you come up with something innovative, you should reap the rewards. That safeguards the hard work and money someone puts into an invention or technology.
But patents really amount to a legal monopoly, granted by government. And as is typical with government, this intervention into the economy creates some interesting side effects.
It should come as a surprise to precisely no one reading this post that wall street equity analysts have a 'slight' bias toward "Buy" ratings. After all, equity analysts aren't really in the business of helping clients make buy/sell decisions, their only real value comes from acting as an intermediary to setup the coveted 1x1's at lavish conferences in Miami between the hedge funds who pay them and the management teams of the companies they cover. And, of course, it's much harder to get those management teams to attend your conference if you spread too much truth about th
The September jobs report was a bizarre exercise in "goalseeked" data: from the first drop in Establishment Survey payrolls in 7 years, to the near record monthly surge in full-time jobs and Household Survey employment, to the erroneous calculation in average hourly earnings, virtually everything about the latest payrolls report was off.
Still, accurate or fabricated, here is the breakdown of the seasonally-adjusted job gains and losses that took place in the hurricane-impacted month.