Authored by Mike Krieger via Liberty Blitzkrieg blog,
Last week, I wrote a post titled, What Can an Overhyped Silicon Valley Juice Company Tell Us About the U.S. Economy. Here’s how I ended the piece:
Authored by Mike Krieger via Liberty Blitzkrieg blog,
The primary driver behind my decision to walk away from a lucrative Wall Street career was my coming to terms with the fact that our financial system is largely a rent-seeking scheme designed to enrich parasitical, unethical behavior at the expense of the nation as a whole. As soon as I recognized this, I could no longer feel proud of my work and certainly couldn’t justify my large paycheck for being a compliant, highly productive cog in this machine.
European stocks rebounded after the biggest one-day drop since November, alongside S&P futures, while Asian equities posted modest declines after yesterday's weak US close. Gold and yen slid, while the dollar gained on the latest Mnuchin comments to the FT according to which Trump was "absolutely not" trying to talk down the dollar.
One week ago, when shares of the UK-based Imagination Technology crashed 70% overnight after Apple announced it would cease using the tech company's graphics technology for new products, including phones, tablets, and watches, in a push to insource key R&D as well as preserve capital, Neil Campling, head of technology research at Northern Trust Securities, said that "this is what we would describe as a black swan moment for the company and investors in Imagination."
Who says activist investors are dead, swallowed whole by the relentless passive, ETF wave?
Moments ago Whole Foods, which has seen its stock suffer a painful decline for the past two years, spiked on a WSJ report that Barry Rosenstein's Jana Partners has amassed a 9% stake in WFM and is pushing the organic grocer to speed up its turnaround efforts while also exploring a possible sale.