Patrick Boyle On Finance

The Dumbest Megaprojects! Feb 18, 2025

From skyscrapers in the middle of nowhere, to man-made islands that are sinking into the sea. And from abandoned buildings to foolish transportation infrastructure - let's look at the world's most useless megaprojects.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel:Patreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Neom The Line Episode: https://www.youtube.com/watch?v=Ak4on5uTaTgBusiness Inquiries ➡️ sponsors@onfinance.org

Trump’s Tariff Wars - What Happens Next? Feb 10, 2025

Last weekend Donald Trump announced 25 per cent tariffs on most imports from Canada and Mexico, and an additional 10 per cent levy on imports from China. Canadian oil was hit at a lower rate of 10 per cent. The duties will take effect from Tuesday. Just days later these tariffs were suspended.Trump said the actions were in response to the “major threat” posed by the flow of migrants and drugs into the US across its borders with Canada and Mexico.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel:Patreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.org

DeepSeek - How a Chinese AI Startup Shook Silicon Valley Feb 03, 2025

On Monday, over a trillion dollars was wiped off the US stock market due to the appearance of a Chinese artificial intelligence start-up DeepSeek. The release of a new reasoning model, known as R1, led investors to question US dominance in tech, their expectations around future AI capex while also raising the prospect that China might beat Silicon Valley at its own game. The new DeepSeek model can “reason” to solve complex problems and performs as well as the AI software from US tech giants like Google and OpenAI, but was apparently developed at a fraction of the price of those models. DeepSeek quickly overtook OpenAI’s ChatGPT as the most-downloaded free app on the US iOS App store. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ sponsors@onfinance.org

The South Sea Bubble Jan 30, 2025

1720 was a year of two bubbles and a plague - The Mississippi Company in France –and the South Sea Bubble in England were the first large scale financial bubbles on record. In September 1720 - when the bubbles burst, England and France were plunged into economic and political crisis's. These were amongst the first examples of financial boom and bust cycles and were the events that gave rise to the use of the term bubble to describe a spectacular market failure. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Sources: Money For Nothing by Arthur Levinson: https://amzn.to/3PUbbcV The King, the Crook, and the Gambler by Malcolm Balen: https://amzn.to/3CFq7bM The Life of Isaac Newton by Richard Westfall: https://amzn.to/4hfXbWU Manias Panics & Crashes - Kindelberger: https://amzn.to/40xOrnX Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance YouTube Channel: https://www.youtube.com/@PBoyle

The Economic Toll of The Los Angeles Wildfires Jan 19, 2025

The Los Angeles wildfires have destroyed more than 12,000 structures and at least 24 people have died with more unaccounted for as multiple wildfires, fueled by severe drought conditions and strong winds, continue to burn. Wells Fargo and Goldman Sachs estimate that the destruction will cost insurers as much as $30 billion dollars and after accounting for non-insured damages, the total costs will balloon to $40 billion. The ongoing fires, already appear to be the costliest wildfire event in California history. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ sponsors@onfinance.org

How Would Mass Deportations Affect the US Economy? Jan 15, 2025

Donald Trump has promised to conduct “the largest deportation effort in American history,” no matter what it costs—but the price tag may be bigger than expected. In today's video we look at a history of US border control and the economic costs of deporting more than six percent of the US workforce while the US workforce ages. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ sponsors@onfinance.org Links: Chloe East - The Labor Market Effects of Immigration Enforcement: https://www.journals.uchicago.edu/doi/epdf/10.1086/721152 Chloe East - Unintended Consequences of Immigration Enforcement: https://jhr.uwpress.org/content/early/2022/05/02/jhr.0920-11197R1 Warwick McKibbin presentation: https://www.youtube.com/watch?v=QV3lxKYIDFE What Will Mass Deportations Look Like: What Will Mass Deportations Look Like? How many people did Obama, Biden and Trump actually deport? https://www.the-independent.com/news/world/americas/us-politics/trump-deportation-numbers-obama-biden-b2649257.html Sarah O’Connor Article: https://www.ft.com/content/2bb60c40-efe1-48d1-9c9e-b9ff672ce349 Who is right about ‘Maganomics? https://www.ft.com/content/76ee5977-1f16-470b-86a5-400209aad5a3 What we know about unauthorized immigrants living in the U.S: https://www.pewresearch.org/short-reads/2024/07/22/what-we-know-about-unauthorized-immigrants-living-in-the-us/

Is Electrification Killing the Auto Industry? Jan 08, 2025

For years, the auto industry has been hyping the transition to electric vehicles with optimistic sales forecasts for electric models and huge growth projections. Investors pumped up valuations for automakers, based on their visions for an electric future. Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen and Jaguar are scaling back or delaying their electric vehicle plans. Tesla’s annual vehicle deliveries declined for the first time in more than a decade during a period when overall car sales are up. Have automakers overinvested in EVs and are EVs killing the car industry? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Further Reading: How Trump policies could reshape the EV industry: https://observer.com/2024/12/trump-ev-policy-tesla/ Norway EV subsidies: https://www.instituteforenergyresearch.org/renewable/the-hypocrisy-of-the-electric-vehicle-movement/ Tesla Deliveries drop: https://www.ft.com/content/f13d799c-a4dc-4619-b876-6ec68b502fec Automakers struggling: https://www.nytimes.com/2024/12/15/business/automakers-trouble.html Northvolt Bankruptcy: https://www.ft.com/content/09938004-21b9-4750-8fa2-9ed15c566d4e The Winners & Losers in Auto Sales: https://www.caranddriver.com/news/g63335108/auto-sales-q4-2024-winners-losers/ Why Norway is Having Second Thoughts about EVs: https://www.vox.com/future-perfect/23939076/norway-electric-vehicle-cars-evs-tesla-oslo

2024 - The Financial Year in Review Jan 01, 2025

Here's a look back on some of the most impactful events in markets during 2024. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: / patrickboyleonfinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickb... Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.... Business Inquiries ➡️ sponsors@onfinance.org

Swamped by Rules! - Which Ones Should Go? Dec 22, 2024

There is a long history of regulation and deregulation where big scandals provide the catalyst for new rules, and then the realization that the rules are possibly excessive has caused them to be rolled back. In finance the 1933 Glass-Steagall provisions came in the wake of the 1929 Crash. The 2002 Sarbanes-Oxley Act was a reaction to the Enron and WorldCom scandals. Dodd-Frank was enacted in 2010 after the 2008 financial crisis. Good regulation can bring all sorts of benefits, but excessive regulation, does little to serve the public interest, and creates financial costs and frustration for businesses and the public. Elon Musk has vowed to dismantle thousands of federal regulations as the co-head of the Department of Government Efficiency, or DOGE, saying the nation’s financial security depends on it. Is he right, and if so, what rules need to go first? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org Additional Reading: https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulation An Evaluation of Consumer Protection Legislation: The 1962 Drug Amendments | Journal of Political Economy: Vol 81, No 5 https://www.cato.org/publications/policy-analysis/jones-act-burden-america-can-no-longer-bear#conclusion https://worksinprogress.co/issue/how-madrid-built-its-metro-cheaply/ Milton Friedman Video: https://www.youtube.com/watch?v=dZL25NSLhEA A history of regulation and deregulation: https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulation Weird Laws Around the World: https://www.farandwide.com/s/weird-laws-world-4961c1ede8d749bf

Javier Milei One Year In! Dec 16, 2024

Javier Milei has been in office for one year having taken over an economy on the brink of collapse. Milei managed to cut the monthly inflation rate from 26 per cent before he took office to 2.7 per cent in October. The Argentine peso has strengthened significantly against the black-market dollar over the past six months and Argentina’s sovereign bond prices have roughly tripled. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org Further Reading: FT - Has Javier Milei proved his critics wrong? https://www.ft.com/content/35b444a1-608c-48b5-a991-01f2ac3362be The Economist - The making of an economic miracle? https://www.economist.com/the-world-ahead/2024/11/20/argentina-the-making-of-an-economic-miracle Javier Milei's Argentina in 6 Charts: https://news.gallup.com/poll/654089/javier-milei-argentina-charts.aspx

Can Trump's Tariffs Work? Dec 09, 2024

In today's video we examine Donald Trump's plan to rebalance global trade using tariffs, try to understand the issues with international trade that have been pushing the United States and other countries in this protectionist direction, and if tariffs can be expected to improve the situation or make things worse. We’ll discuss whether Trump could impose his tariffs unilaterally on his first day in office and whether the mere threat of tariffs could be used to improve Americas bargaining power? Subscribe to @PBoyleInterviews here: https://youtu.be/w7sWER7LJd8 Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org
Further Reading: Michael Pettis Trade Intervention for Freer Trade: https://carnegieendowment.org/research/2024/10/trade-intervention-for-freer-trade?lang=en CFR The Contentious U.S.-China Trade Relationship: https://www.cfr.org/backgrounder/contentious-us-china-trade-relationship

How Much of a Good Thing is Too Much? Victor Haghani Interview Dec 05, 2024

Victor Haghani started his career at Salomon Brothers and shortly after became a managing director in the bond arbitrage group run by John Meriwether. He was a founding partner of Long-Term Capital Management and established its London office. The failure of LTCM was a life-changing experience that led him to question and revise much of the way he thought about the economy, markets, and investing. His new book - The Missing Billionaires is a personal finance book that examines why there are so few "old money" billionaires on the current rich lists. The book focuses on poor risk decisions, both in investing and spending. Many of the millionaires from 125 years ago didn’t choose bad investments– they simply sized them incorrectly– and allowed their spending decisions to amplify this mistake. The Missing Billionaires book offers a framework for making important lifetime financial decisions in a systematic and rational way. In today's interview Victor discusses how much risk an investor should take to safely grow their wealth or how much of a good thing is too much? The Missing Billionaires on Amazon: https://amzn.to/3OIr6u8 Subscribe to Victor's Mailing List: https://elmwealth.com/elm-in-the-press/ Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org

Yotta Bank & The Problem with Fintech! Dec 01, 2024

Marc Andreessen appeared on the Joe Rogan podcast this week arguing that the Consumer Financial Protection Bureau (CFPB) should be shut down as it debanks conservatives. In today's video we use the example of the finfluencer promoted fintech bank Yotta - look at its ties to another fintech - synapse to try to understand if the CFPB should be defunded or if savers need to be protected from fintech firms that are mostly unregulated. Subscribe to Patrick's interview channel here: https://www.youtube.com/@PBoyleInterviews Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org Additional Reading: CNBC Article: https://www.cnbc.com/2024/11/22/synapse-bankruptcy-thousands-of-americans-see-their-savings-vanish.html How Safe are Online Banks & Fintechs?: https://www.bloomberg.com/news/articles/2024-10-09/how-safe-is-your-money-really-in-online-banks-and-fintechs Andreessen-Backed Fintech's Meltdown Shows Bank Middlemen Risks: https://news.bloomberglaw.com/banking-law/andreessen-backed-fintechs-meltdown-shows-bank-middlemen-risks Rob Copeland - How To Keep Your Money Safe: https://www.nytimes.com/2024/08/10/business/online-lending-banking-money-risks.html CFPB Debanking Press Release: https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-rule-on-federal-oversight-of-popular-digital-payment-apps-to-protect-personal-data-reduce-fraud-and-stop-illegal-debanking/ a16z Investment list: https://a16z.com/investment-list/ Joe Rogan - Marc Andreessen Interview: https://www.youtube.com/watch?v=ye8MOfxD5nU

Can Elon Musk Cut Two Trillion Dollars From the US Budget? Nov 25, 2024

Elon Musk and Vivek Ramaswamy are heading up Donald Trump's newly created Department of Government Efficiency which plans to take aim at wasteful government spending. On the campaign Elon Musk claimed that he could cut two trillion dollars in government spending. What would those cuts look like and how likely is Elon Musk to succeed? Does Elon Musk have too many conflicts of interest to do this job? Subscribe to Patrick's interview channel here: https://www.youtube.com/@PBoyleInterviews Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Additional Reading: Jetson Leder-Luis Website: https://sites.bu.edu/jetson/ False Claims Act Reporting: https://www.justice.gov/civil/report-fraud The Economist: https://www.economist.com/briefing/2021/11/20/governments-are-not-going-to-stop-getting-bigger Reid Hoffman in The FT: https://www.ft.com/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108 Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org

The Great Depression - An Economic History Nov 18, 2024

The Great Depression was the worst and deepest peacetime economic shock in the history of the industrialized world. It brought about profound social change and was a significant factor in the drift towards the Second World War. The depth of suffering during the Depression years is hard for many of us to imagine today. More than 1 in five children in the city were suffering from malnutrition by 1932, and the Great Depression was only getting going at that point, it lasted seven more years. So, why did events on Wall Street in 1929 reverberate around the world? Why did the depression last so long, and how did America and the rest of the world eventually dig themselves out of this financial hole? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Additional Reading: Milton Friedman on The Great Depression: https://amzn.to/4fvMYF6 The Great Depression by Robert S. McElvaine: https://amzn.to/40Szajt Essays on The Great Depression by Ben Bernanke: https://amzn.to/40Szajt Keynes letter: https://www.economicsnetwork.ac.uk/archive/keynes_persuasion/The_Economic_Consequences_of_Mr._Churchill.htm The U.S. Economy in the 1920s: https://eh.net/encyclopedia/the-u-s-economy-in-the-1920s/ Britain In The Great Depression: https://moneyweek.com/economy/uk-economy/602525/britain-didnt-have-a-roaring-20s-it-had-a-roaring-30s-heres-why Michael Pettis in The FT: https://www.ft.com/content/ec1b730b-0fbf-3a8c-896a-557c06f730cf The photographers of the Great Depression - Dorothea Lange, Walker Evans, and Arthur Rothstein Business Inquiries ➡️ sponsors@onfinance.org

The Truth About the US Economy! Nov 10, 2024

The US Economy has been booming in recent years and most Americans are doing better than they were a year ago, unemployment is lower, wages are growing, and inflation is declining. It’s not just the one percent either, the statistics show that Americans across ages and social classes are doing really well. While people should be feeling these tangible economic improvements, surveys show that Americans are the most pessimistic they have been about the economy in thirty years. TikTokers have coined the term “the silent depression,” claiming that it’s harder to get by today than it was during the great depression. So what is the truth about the US Economy? Further Reading: It's Getting Better All The Time - Stephen Moore & Julian Simon: https://amzn.to/3CigyiK Factfulness by Hans Rosling: https://amzn.to/4fqA6QI Gilad Edelman in the Atlantic: https://www.theatlantic.com/ideas/archive/2023/12/inflation-food-prices-democrat-biden/676901/ Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel: Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org

Deindustrialization in Europe? Nov 03, 2024

There has been a lot of press on how Europe is facing deindustrialization, where manufacturing employment is in terminal decline and the continent can no longer compete due to high energy prices, economic competition, and other factors. In today's video we try to work out if Europe is doomed and should pivot towards tourism - becoming the worlds museum. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC

Helpful Links:

Mario Draghi Report: https://commission.europa.eu/topics/strengthening-european-competitiveness/eu-competitiveness-looking-ahead_en

Oxford Economics: https://www.oxfordeconomics.com/resource/claims-of-deindustrialisation-in-europe-are-overblown/ Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org

Big Tech is Going Nuclear! Oct 27, 2024

Big tech companies like Microsoft, Amazon and Google are driving the nuclear revival, as to get new power-hungry data centers built in the US and Europe, they have to solve the problem of power generation. Their net zero pledges mean that the sources of power that they have pledged to use have to be low carbon, and they have already invested heavily in wind and solar, but their data centers still need a steady base load, so for big tech, investing in nuclear energy makes a lot of sense. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org

What Went Wrong With California? Oct 20, 2024

Since the gold rush, California has been the go-to state for start-up companies. In recent years the Golden State has been losing the competition with neighboring states. More than 500 businesses have left California since 2005. Among these businesses were Fortune 500 companies and the economic impact from these departing companies is likely to be severe. California’s tax laws and prohibitive regulations are the leading causes of the massive corporate exodus. The business-friendly conditions, opportunities to save costs, and home-ownership options for employees in other states are a few reasons companies have decided to leave California. These factors led to the first three-year decline in population in Californias history. In today's video we ask, what went wrong with California? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance YouTube Channel: https://www.youtube.com/@PBoyle

The FBI had A Crypto Token! Oct 12, 2024

The FBI created their own crypto token called NexFundAI as part of an investigation into price manipulation in crypto markets. As a result of the investigation, the SEC charged three “so-called market makers” and nine individuals for allegedly engaging in schemes to boost the prices of certain crypto assets. The Department of Justice charged 18 people and entities for “widespread fraud and manipulation” in crypto markets. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Ways To Support The Channel Patreon: https://www.patreon.com/PatrickBoyleOnFinance Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle Visit our website: https://www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Additional Links: SEC Press Release: https://www.sec.gov/newsroom/press-releases/2024-166 U.S. Attorney's Office, District of Massachusetts: https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread Link To Report Losses: https://forms.fbi.gov/seeking-information-in-cryptocurrency-investment-fraud-investigation Business Inquiries ➡️ sponsors@onfinance.org Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

The Collapse of The Luxury Watch Market - Why Have Secondary Market Prices Fallen So Much? Oct 07, 2024

Send us a textPrices for the most in-demand luxury watches have been in freefall on the secondary market since March 2022 as a pandemic-era rally fizzled. Are luxury watches a good investment, how do watch prices perform in the long run?Patrick's BooksStatistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCSupport The ChannelPatreon Page: https://www.patreon.com/PatrickBoyleO...

Crypto Has Bought The 2024 Election! Oct 02, 2024

Send us a textAccording to the consumer advocacy group Public Citizen, almost half of all corporate money contributed to this year's US election campaigns has come from crypto backers and politicians are bending to their will with promises to reduce regulation and consumer protections.Why do Trump and Kamala Harris suddenly support crypto? In today's video we follow the money.Patrick's BooksStatistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor:...

Is Tony Robbins Right About Private Equity? Sep 27, 2024

Send us a textIn a recent CNBC interview Tony Robbins extolled the virtues of investing in private equity, arguing that private equity provided high returns – with low risk. Is he right? Should everyone invest in Private Equity?Patrick's BooksStatistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCSupport The ChannelPatreon Page: https://www.patreon.com/PatrickBoy...

Is the EV Revolution Dead? Sep 23, 2024

Send us a textAutomakers are hedging their bets on electric vehicles and stepping up their investment in hybrid cars as consumers’ growing disinterest in fully electric vehicles has forced the industry to shift gear.A combination of high EV depreciation and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that many automakers had ignored.Volvo scrapped its target of going all electric by 203...

Tech Bros Inventing Things That Already Exist Sep 12, 2024

Send us a textIt seems like every day the tech industry comes out with a "brilliant new idea” that turns out to be merely a reinvention of a mundane product that already existed. Tech bros keep reinventing the bus, but they have also taken to reinventing the tea pot, the toothbrush, the lunchbreak and the public park. In today's video we look at the tech products that either already existed or should never have existed.Patrick's BooksStatistics For The Trading Floor: https://amzn....

The Great British Bailout Sep 03, 2024

Send us a textThe British government is closing in on a bailout of the Chinese owned British Steel in which taxpayers would inject £600 million pounds into the group.British Steel is one of only two manufacturers of “virgin steel” in the UK alongside Tata Steel at Port Talbot in Wales which some industry experts claim is strategically important. Tata is in more advanced talks of its own with the government over a similar bailout.The British government wants the steel mills to switch from usin...

When AI is Just Badly Paid Humans! Aug 25, 2024

Send us a textIn recent years, a number of companies have been caught claiming to use artificial intelligence while in reality, outsourcing this work to humans. The SEC recently settled with two funds who were misleading investors about their use of the technology. While artificial intelligence has been widely used in industry for decades, not all companies have been truthful with their claims of AI breakthroughs.In today's video we discuss to what extent have big firms been faking AI? Statis...

Adam Robinson - Strategy for Investing and for Life Aug 21, 2024

Send us a textSign up for Compounded Daily at this link: https://www.compoundeddaily.com/I welcome my friend Adam Robinson to the podcast, the person who has had possibly the most interesting career of anyone I know. He was a teenage Chess prodigy who trained with Bobby Fischer as Fischer prepared to play Boris Spassky for the 1972 world championship – in what has gone on to be known as The Match of The Century. He was an undergrad at The Wharton School at the University of Pennsylvania and l...

America's Retirement Timebomb! Aug 18, 2024

Send us a textOver the next five years the largest cohort of the baby boomer generation will reach retirement age and while it is broadly assumed that they will have comfortable retirements, a recent analysis of their assets shows that more than half of this final group of boomers are not financially prepared to retire whatsoever.In today's video we look at how American retirees found themselves in this position, and how much you need to save to have a comfortable retirement.Patrick's Books:S...

What's Behind Last Week's Stock Market Drama Aug 13, 2024

Send us a textThis Monday was one of the worst days for global stock markets in years, Stocks in the US, Europe and Japan tanked on Friday and again on Monday before a partial rebound. Bond yields and foreign exchange rates swung around wildly too.The Magnificent seven stocks lost about $1 trillion dollars in value in just two days. So, what exactly is going on in markets, and how much should we worry?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives F...

Big Tech Doesn't Want You Anymore Aug 04, 2024

Send us a textBig Tech is slashing hundreds of thousands of jobs and blaming artificial intelligence, but there may be more to the story than that. Intel just announced fifteen thousand layoffs yesterday, causing their stock price to plunge. Big Tech, who for over a decade provided all sorts of employee perks may no longer be the dream place to work.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cj...

Short-Seller Andrew Left Charged With Fraud! Jul 30, 2024

Send us a textThe activist short seller Andrew Left surrendered to authorities in Los Angeles on Monday to face federal criminal securities fraud charges, a spokesman for the U.S. Attorney’s Office there said.Both the SEC and a federal grand jury in the Central District of California brought charges against Andrew Left a prominent activist short seller with multiple counts of securities fraud for a long-running market manipulation scheme reaping profits of at least $20 million.As alleged in t...

Pump and Dump Schemes are Now Totally Legal Jul 21, 2024

Send us a textA Texas District Judge Andrew S. Hanen has dismissed all charges against seven social-media influencers the SEC and Justice Department had accused of perpetrating a “stock manipulation scheme” on Twitter and Discord, ruling that the prosecution failed to state an offense in a case alleging securities fraud. The influencers were accused of securities fraud through a Pump and Dump scheme as they posted on social media that they owned or were buying various penny stocks but did not...

Will Trump Pump the Stock Market? Jul 15, 2024

Send us a textU.S. stocks are expected to get a short-term boost in the aftermath of the attempted assassination of former President Donald Trump over the weekend, as analysts say the likelihood of his victory in November has increased. Trump's lead has extended itself since Biden's poor debate performance two weeks ago which left his biggest supporters concerned about the president's ability to handle the rigors of another four years in office. Will the stock market do better under Tru...

History's Greatest Conman! Jul 06, 2024

Send us a textGregor MacGregor was a Scottish soldier, adventurer, and con man who invented a Central American country called “Poyais,” in 1820 which he claimed to rule as the “Cazique.” MacGregor attempted to draw British and French investors and settlers to his fictional country. Hundreds invested in Poyaisian government bonds and land certificates, while about 250 emigrated to MacGregor’s invented country. MacGregor’s Poyais scheme has been called one of the most brazen confidence tricks i...

The Pig Butchering Scam! Jun 29, 2024

Send us a textEvery year, people around the world lose millions of dollars to a sophisticated scam known as “the pig butchering romance scam”. The scam takes its name from the victims, who the scammers call “pigs” that they "fatten up" before slaughter. It usually begins with a text message that appears to be a wrong number. People who respond are lured into a long conversation with a good-looking and wealthy stranger who eventually offers to teach them how to make money with crypt...

Millionaire Exodus? Jun 22, 2024

Send us a textMillionaires are leaving the UK faster than any country in the world other than China, new data shows.According to the Henley Private Wealth Migration Report, 9,500 millionaires, defined in US dollar terms are leaving the UK this year. Only China - which has more than twice as many people with seven-figure net worths - saw more millionaires leave.This is a new record outflow for the UK, with London expected to be especially hard hit. The top destinations for millionaires leaving...

Financial Nihilism - Understanding Meme Stocks & Crypto Jun 15, 2024

Send us a textDemetri Kofinas came up with the term Financial Nihilism in 2019, describing it as a philosophy that treats the objects of speculation as though they are all intrinsically worthless. Financial nihilism according to Demetri represents an ideological standpoint that questions the value and legitimacy of financial systems, markets, and even the concept of money itself. It doesn’t involve a simple disregard for fundamental reality but a contempt for all fundamentals. The point...

Election Chaos! India, Mexico & South Africa Jun 09, 2024

Send us a textIndia’s stock market took its worst tumble in four years after Indian Prime Minister Narendra Modi’s BJP lost its parliamentary majority in a surprise outcome.This result means that Modi will need to rely on smaller parties to form a governing majority in the Lok Sabha, the lower house of India’s parliament, raising uncertainty about the Indian leader’s ability to pursue his pro-business agenda.Surprise election results in Mexico and South Africa also shook markets over th...

How WallStreetBets Really Started - Trolls of Wall Street - With Nathaniel Popper Jun 04, 2024

Send us a textTrolls of Wall Street on Amazon: https://amzn.to/4e40D5MAn interview with Nathaniel Popper the author of Trolls of Wall Street - How the Outcasts and Insurgents Are Hacking the Markets. Trolls of Wall Street is a new book telling the story of an improbable gang of self-proclaimed “degenerates” who made WallStreetBets into a cultural movement that moved from the fringes of the internet to the center of Wall Street, upending the global financial markets and changing how an entire ...

Was Endless Shrimp to Blame for Red Lobster's Bankruptcy? May 27, 2024

Send us a textRed Lobster was America’s largest casual dining seafood chain, with almost 600 locations across the United States and Canada. Its bankruptcy was announced earlier this week.The bankruptcy declaration insinuates that the chains equity owner who was also their biggest seafood supplier might have decided that their equity stake in the business was worthless, but that they could extract some extra value from the company before it declared bankruptcy by selling them a lot of extra sh...

Japan Spent 60 Billion Dollars Defending The Yen! May 21, 2024

Send us a textOver a four-day period Japan is suspected to have carried out two interventions to support the yen at an estimated cost of $59 billion dollars.The first intervention came after the yen fell below 160 to the dollar for the first time in 34 years. The second intervention came a few days later after Jerome Powell announced that a rate hike was unlikely to be the Fed’s next interest-rate move.The simplest explanation for the declining yen is that it is entirely driven by Japanese in...

Shell's Fake Carbon Credit Scandal Explained! May 12, 2024

Send us a textEurope’s largest oil and gas company Shell was accused in an investigative report from Greenpeace Canada of selling millions of carbon credits tied to CO2 removal that never took place.Let’s look at what Shell did, how carbon offsets work, and how environmentally beneficial they actually are.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rv...

Won't Somebody Please Think of The Traders?? May 04, 2024

Send us a textThe Société Générale Delta One Desk is back in the news after two traders were dismissed - accused of placing unauthorized risky options trades.Kavish Kataria – one of the traders in question - attacked the banks leadership with a LinkedIn post on Thursday saying the “entire risk team and other bosses” were equally responsible for the trades and complaining that his bonus had been withheld. The Delta One desk that Kataria worked on is the same trading desk where rogue SocGen tra...

The Handbag Wars! - Has The FTC Lost Control? Apr 29, 2024

Send us a textLina Khan's Federal Trade Commission is suing to block Tapestry's $8.5 billion acquisition of Capri Holdings, saying the deal would harm consumers by reducing competition and raising prices in the affordable luxury handbag sector.Monday's lawsuit challenges the proposed deal that would have Tapestry controlling Coach, Kate Spade, Stuart Weitzman, Michael Kors, Versace and Jimmy Choo.According to the FTC, the acquisition could have a negative impact on the millions of American sh...

Is Britain Falling Behind? Apr 24, 2024

Send us a textCheck out Eight Sleep and unlock $200 off using my link: https://www.eightsleep.com/boyle/ British stocks closed at an all-time high this week, but as exciting as a new all-time high might sound, the British stock market has been lagging US and European stocks since the Brexit referendum.A recent report from Goldman Sachs says that the British economy is 5% smaller than it would have been had it remained in Europe.The IMF last week listed the UK in its Fiscal Monitor public...

Neom - The Line - The Rise and Fall of Saudi Arabia's Linear City. Apr 16, 2024

Send us a textSaudi Arabia’s plan to build a 170km long, 500m tall, mirrored city in the desert, filled with 9 million people has been curtailed to 2.4km long.According to Bloomberg, Saudi Arabia’s government had “scaled back its medium-term ambitions” for Neom, of which The Line is the most significant sub-project.The Saudi government had hoped to have 9M residents living in The Line by 2030, but this has been scaled back to fewer than 300,000, according to the report.The curtailment of plan...

What Happened to Electric Vehicle Sales? Apr 05, 2024

Send us a textSales growth of electric vehicles has slowed dramatically this year. Tesla delivered 20% fewer cars in the first quarter of 2024 than in the prior quarter, and BYD who was previously the world’s biggest EV maker saw sales decline more than 40% over the same period.BYD’s EV sales were still up 13% when compared to the same quarter a year earlier, while Tesla’s sales were down 9%. Both companies have been slashing prices to stimulate demand.While EV sales overall are still r...

What the End of Japan’s Negative Interest Rates Means Mar 29, 2024

Send us a textJapan’s central bank raised interest rates last week for the first time in seventeen years, ending the world’s only remaining negative interest rate regime. The Bank of Japan also abandoned its yield curve control policy which has been in place since 2016, which saw it buying Japanese government bonds to keep longer term interest rates from rising. It has however maintained bond buying at the same pace for now.Patrick's Books:Statistics For The Trading Floor: https:/...

Bankruptcies Rising Around The World Mar 22, 2024

Send us a textAfter a decade of decline, bankruptcy filings around the world are on the rise. In the United States, business bankruptcy filings rose more than 40 percent last year and non-business bankruptcy filings rose 16 percent.Bankruptcies in England and Wales just hit a 30-year high according to the latest figures.In Japan, corporate bankruptcies involving a total liability of 10 million Yen or more increased year on year by more than 35 percent.Patrick's Books:Statistics For The ...

Elon Musk Vs. OpenAI - The Lawsuit Mar 08, 2024

Send us a textElon Musk filed a lawsuit last week against OpenAI and its CEO Sam Altman, alleging the company’s deal with Microsoft compromised the start-up’s original mission. Musk is seeking disgorgement, additional unspecified damages and specific performance. Let’s go through these claims one by one, see what legal experts have been saying about the case. We will also discuss the Open AI memo saying that the claims in this lawsuit suit stem from Elon’s regrets about not being i...

The Office Real Estate Crunch! Mar 03, 2024

Send us a textOffice mortgage default rates are rising around the world which could mean problems for the banks, insurance companies and pension funds who lent money to real estate investors.Let’s discuss the distressed sales of office buildings that have been happening over the last few months, why New York Community Bancorp is down more that 65% year to date, what banking regulators are saying about loan portfolios at large US banks and how banks are hedging their loan books. Patrick's Book...

Is AI Actually Useful? Feb 25, 2024

Send us a textA new Harvard Business School study analyzed the impact of giving AI tools, to white collar workers at Boston Consulting Group.In the study, management consultants who were told to use Chat GPT when carrying out a set of consulting tasks were far more productive than their colleagues who were not given access the tool. Not only did AI-assisted consultants carry out tasks 25 per cent faster and complete 12 per cent more tasks overall, but their work was also assessed to be 40 per...

Are Exports the Only Source of Growth? Feb 17, 2024

Send us a textAs the global fight over manufacturing share and exports heats up, with surplus economies doubling down on exports, and deficit economies discussing protectionist strategies, the policies of the largest global economies are in clear conflict. Are trade wars likely, how do they work, and can the global economy regain balance?Michael Pettis Books:The Great Rebalancing: https://amzn.to/4bDIGKfTrade Wars Are Class Wars: https://amzn.to/3I2xHMHPatrick's Books:Statistics For The Tradi...

Adam Neumann Buying Back WeWork? Feb 10, 2024

Send us a textAdam Neumann has been trying to buy WeWork - the company he cofounded out of bankruptcy — allegedly with the help of the hedge fund manager Dan Loeb of Third Point.Neumann’s new real estate company "Flow" has sent a letter to WeWork requesting that they consider its takeover approach. Flow has already raised $350 million from the venture capital firm Andreessen Horowitz, disclosed in the letter that Loeb’s Third Point would help finance a transaction. The Financial Times c...

Elon Musk Pay Deal Voided - Should Tesla Reincorporate in Texas? Feb 03, 2024

Send us a textA Delaware court this week voided Elon Musk’s $55.8 billion dollar pay deal with Tesla. The voiding of these stock options erases about a quarter of Musk’s current wealth.The judgement came in response to a shareholder lawsuit launched by Richard Tornetta who owned nine shares in the company. Judge Kathaleen McCormick found Tesla directors, who negotiated the pay package, were "perhaps starry eyed" due to Musk's "superstar appeal" and did not adequately inform shareholders...

Risk & Return - The Jesse Livermore Story Jan 29, 2024

Send us a textJesse Lauriston Livermore was a famed American stock trader known for his huge successes and devastating failures in the early 20th century. Starting as a "chalkboard boy" in a Boston brokerage, he became hugely wealthy as a trader first in "bucket shops" and then on the exchange in New York. Livermore made millions in the Panic of 1907, the roaring 20's and in the 1929 market crash. His experiences are chronicled in the classic "Reminiscences of a Stock Operator" by Edwin...

Startups Are Shutting Down! Jan 21, 2024

Send us a textBig startups are shutting down. More than 3000 private venture backed startups failed in the last year. Of the startups raising money, 19% were funded at a lower valuation than in prior funding rounds. 38% of VCs disappeared from dealmaking last year and more than a quarter of a million workers at tech companies lost their jobs over the same period. US corporate bankruptcy filings closed out 2023 with the most filings since 2010. The year has been described as a mass extin...

Are You In The One Percent? Jan 15, 2024

Send us a textHow much do you need to earn per year to be in the top 1%? The answer to this question varies depending on if you are asking about the 1% in a given country or globally?In today's podcast we discuss how much you have to earn and how wealthy you have to be to be considered in the top one percent. We discuss the careers and lifestyles of the one percent. We look at inequality research to understand if inequality is actually growing as much as researchers like Tho...

Why China is Flooding Europe with Cars. Jan 09, 2024

Send us a textHow is China able to sell European drivers so many cheap cars? Customs data shows that Chinese EV shipments to the European Union have increased by 361% since 2021. All over the world, Chinese automakers are taking market share which is threatening European automakers. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: ht...

The Downfall of Dozy Mmobuosi Dec 29, 2023

Send us a textDozy Mmobuosi, the founder and CEO of Tingo Mobile has been accused by US Regulators of running a "staggering fraud."Tingo Mobile claimed to provide mobile phones to rural farmers in Nigeria and build a fintech super app. It quickly grew into a multibillion-dollar empire with a listing on New York’s Nasdaq stock exchange.Dr Dozy, the London-based tycoon attempted to buy the Premier League football team Sheffield United but struggled to prove his financial resources.It turns out ...

2023 - The Financial Year in Review Dec 23, 2023

Send us a textIn this week's podcast we look at the biggest financial news stories of the year, bank runs, The Elon Musk - Mark Zuckerberg fight, The Sam Bankman Fried Trial and much more.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://buymeacoffee.com/patrickboyleVisit...

The Frozen US Real Estate Market. Dec 16, 2023

Send us a textHigher mortgage rates should be expected to depress the housing market, and the US has just seen one of the steepest rate increases in history.Would-be homebuyers are facing massive sticker shock, with measures of affordability worsening at the fastest pace on record. The US real estate market has frozen up with the volume of new sales slowing at a faster pace than even during the aftermath of the global financial crisis.Does this mean that home prices are about to collaps...

Javier Milei - Taking a Chainsaw to the Argentine Economy. Dec 09, 2023

Send us a textArgentina’s new president, Javier Milei describes himself as an anarcho- capitalist and says that he will take a chainsaw to the Argentine economy. He has campaigned that he will dollarize the economy and shut down the central bank. What does this mean, and could it work?Argentina mostly exports agricultural commodities but used to be one of the wealthiest nations in the world. Decades of economic mismanagement have destroyed the economy and created a web of artificial pri...

Twitter is Going Bankrupt! Dec 02, 2023

Send us a textElon Musk told advertisers who have halted spending on X due to his endorsement of an antisemitic post to “go f**k” themselves, in an unhinged interview with Andrew Ross Sorkin (who Elon calls Jonathan). Musk said that a recent exodus of big brands was “going to kill the company, and the whole world will know the advertisers killed the company”.Musk, who bought Twitter (which he has renamed X) for $46.5 billion dollars (including transaction costs) in October 2022, dismissed the...

Sam Altman and OpenAI. What went wrong? Nov 23, 2023

Send us a textFired CEO Sam Altman will return to run OpenAI - the company he co-founded, following days of speculation and turmoil at the leading generative artificial intelligence start-up.In a dramatic reversal, Altman, who was fired by OpenAI’s board of directors last week, will be reinstated under the supervision of a new board.Greg Brockman, the co-founder and president who quit the company on Friday after Altman was fired, will return alongside him. Under an “agreement in principl...

The Man Who Modernized China Nov 21, 2023

Send us a textWhen Mao Zedong died in 1976 his successors seized the opportunity to reassess the wisdom of Chinas rigid commitment to Marxist doctrine. With Deng Xiaoping in charge, China scoured the globe in search of economic expertise to put China on the path to domestic prosperity and ultimately global economic power.The World Bank describes China’s growth as “the fastest sustained expansion by a major economy in history,” In today's video we try to understand what changes were made...

The End of the Peace Dividend Nov 11, 2023

Send us a textRussia’s invasion of Ukraine was a wake-up call to all western governments. Alongside China’s rise, the threat of a nuclear-armed Iran and instability in Africa, the new era of global conflict has forced governments around the world to commit to more defense spending.Will voters around the world accept the high price of military deterrence?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsy...

Are Ray Dalio's Principles the Secret to His Success? Nov 07, 2023

Send us a textSign up for Compounded Daily at this link: https://www.compoundeddaily.com/Since founding Bridgewater nearly 50 years ago, Ray Dalio has become one of the world’s richest investors. He is widely credited with having predicted and profited from both the 1987 crash and the 2008 financial crisis. He is the founder of the world’s largest hedge fund and is one of the most successful businessmen alive, yet he professes to be seeking something more meaningful than just money or busines...

Sam Bankman Fried - Guilty on All Charges! Nov 04, 2023

Send us a textA jury has found Sam Bankman-Fried guilty of all seven criminal counts against him. The FTX founder faces a maximum sentence of 115 years in prison. In today's podcast we discuss the findings of the trial and speak with Tiffany Fong who has been there in person reporting from the courthouse in New York along with people like Michael Lewis.Tiffany Fong YouTube ChannelTiffany Fong TwitterPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivativ...

Is This a Golden Age of Fraud? Oct 28, 2023

Send us a textA podcast about how "passive income" money-making scams seem to have taken over the internet, and the economic implications of such scams.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://buymeacoffee.com/patrickboyleVisit our website: www.onfinance.orgFollo...

The Big Bond Selloff! Oct 20, 2023

Send us a textThe 10-year U.S. Treasury yield closed above 4.9% yesterday, its highest level since July 2007. The bond-market sell-off that's pushing yields higher is starting to eclipse some of the most extreme market meltdowns of past eras.Losses on Ten Year Treasury Bonds are close to 50% since March 2020, while the 30-year bond had plunged even more.Those losses are nearly in line with stock-market losses seen during the worst crashes of recent stock market history — when equities slumped...

Is Ireland Really the World's Richest Country? Oct 14, 2023

Send us a textOil rich countries have long used sovereign-wealth funds to store their windfall profits from periods of high prices for future years when hard times might arise. Ireland on Tuesday created its own sovereign wealth fund thanks to outsize tax revenues from international companies seeking to lower their tax bills. In the past eight years, the country of five million people has watched its corporate tax income triple to the tune of 22.6 billion euros last year, equivalent...

The Inevitable Decline of WeWork Oct 08, 2023

Send us a textWeWork announced this week that it would not make two sets of interest payments totaling about $95 million, a move meant to jump-start negotiations with its lenders at the same time it tries to cut costs with its landlords.The missed interest payments will spur speculation of a bankruptcy filing. But WeWork says it has the cash on hand, and the company has a 30-day grace period to make the payments, which were due Monday. At the end of June, it had $205 million in cash and acces...

Billions of Dollars Trapped In Russia! Sep 29, 2023

Send us a textA large number of western firms have continued to operate and invest in Russia since Putin’s invasion of Ukraine. These companies are estimated to have earned profits of around $20 billion dollars since the invasion. The problem for these companies is that the Kremlin has blocked them from accessing those profits in an effort to clamp down on companies from what they call “unfriendly nations.” Will these companies be able to repatriate these profits at some point in ...

How Involved Were Sam Bankman Fried's Parents? Sep 23, 2023

Send us a textFTX has sued Joseph Bankman and Barbara Fried, the parents of Sam Bankman-Fried, claiming they enriched themselves by siphoning off millions of dollars in “fraudulently transferred and misappropriated funds” from the cryptocurrency exchange their son founded.In a court filing earlier this week, the FTX debtors said Joseph Bankman and Barbara Fried, both of whom are tenured professors at Stanford Law School, used their influence to funnel money from the business to themselves and...

The Top Seven Biggest Business Mistakes! Sep 20, 2023

Send us a textWhen a company, brand or product gets really big, it can be easy to imagine that company will remain in business forever. Yet businesses rise and fall over time, with millions and billions of dollars changing hands as executives try to stay current on what consumers want at any given time. Today let's look at some of the biggest business mistakes in history.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: htt...

Number Go Up - Zeke Faux Interview Sep 16, 2023

Send us a textBloomberg journalist Zeke Faux travelled around the world to better understand the world of crypto currencies, meeting the biggest names in the space on superyachts in the Caribbean and at parties in Miami and travelling to El Salvador to see how bitcoin is being used in the real world.Along the way he buys a Bored Ape with his book advance and sends Tether to a scammer in Cambodia to learn the real-world uses of cryptocurrencies.Here is a link to the book on Amazon - https://am...

The Biggest US Trading Partner Is No Longer China! Sep 14, 2023

Send us a textThe US-China trade war is rewiring global trade. While the US seeks to reduce its reliance on China and other geopolitical rivals and start sourcing imports from closer to home, Mexico is starting to shine. Mexico has just overtaken China as the biggest supplier of goods to the United States.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/...

Goldman Sachs Helps China buy Foreign Companies Sep 05, 2023

Send us a textGet one month of complete digital access to the Financial Times for $1 by clicking here: https://subs.ft.com/patrick_boyle?segmentId=979ca37f-c690-7295-5eba-bf4ff33d3bb4Goldman Sachs is reported in the FT to have used a fund set up with Chinese state money to buy a series of US and UK companies, including one with a cyber security business that provides services to the British government, even as tensions rise between Beijing and the west.Goldman struck seven deals using cash fr...

In China - Don't Say Deflation Aug 29, 2023

Send us a textClick my CoPilot https://go.mycopilot.com/PatrickBoyle link to get a 14-day FREE trial with your own personal trainer!China’s economy has been struggling to reawaken from an economic shutdown that was officially ended last year. Chinese authorities are now reported to be pressuring economists and analysts within the country to avoid discussing any negative trends and to avoid using the word deflation, as concerns grow about the leaderships’ ability to stimulate the economy...

The Panic of 1907 - How JP Morgan Saved the US Economy. Aug 25, 2023

Send us a textThe Panic of 1907 was a six-week stretch of bank runs in October and early November of 1907, where the stock market crashed, the city ran out of money and numerous banks and brokerage firms went bankrupt. The event was triggered by an earthquake a year earlier in San Francisco and a failed short squeeze in United Copper stock by Fritz Augustus Heinze and Charles W Morse. J. Pierpont Morgan famously took action to bring the business community together to save the US economy from ...

Can Our Power Grids Handle the Green Energy Boom? Aug 19, 2023

Send us a textThe demand for electricity has been soaring around the world, and this increase in demand is expected to continue. Governments have been creating rules to electrify transportation, heating, household appliances and even industrial processes. In today's podcast we look at the electric grids that we have in place and copper production to discuss if our power grids can handle the green energy boom?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0...

Million Dollar Homes - Where Should "How Money Works" Live? Aug 12, 2023

Send us a textIn today's podcast I look at the affordability of real estate in the United States and around the world. I try to help my friend who runs a popular YouTube channel "How Money Works" find a good place to live. If you can live wherever you want to, where should you live? Here is a link to his YouTube channel: https://www.youtube.com/@HowMoneyWorks/videosPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://a...

The Five Stocks Driving the Market in 2023 Aug 05, 2023

Send us a textThe performance of the US stock market is the most concentrated it has ever been. Seven of the biggest stocks — Apple, Microsoft, Google owner Alphabet, Amazon, Nvidia, Tesla and Meta — have rallied sharply this year gaining between 35 per cent and 210 per cent this year. The remaining 496 stocks have barely moved.Five big tech companies make up nearly a quarter of the S&P500. At $3.1trillion dollar market cap, Apple alone is worth more than the Russell 2000 index of compani...

Are Taylor Swift and Beyoncé to Blame? Jul 29, 2023

Send us a textIn Europe’s battle against inflation, new villains have emerged: Beyoncé and Taylor Swift!Last month, as Beyoncé kicked off her world tour, fans flocked to Sweden from around the world for the shows, pushing up prices for hotel rooms. This could explain some of the reason Sweden’s inflation rate was higher than expected in May according to Michael Grahn, an economist at Danske Bank.Why after a series of interest rate hikes and a surge in the price of essential goods like food an...

Is The Luxury Goods Bubble About to Burst? Jul 22, 2023

Send us a textIn March 2023 Bernard Arnault, the chairman and CEO of luxury fashion giant LVMH overtook Elon Musk to become the wealthiest person in the world. He is the only European in the list of top 10 richest people in the world. His wealth has skyrocketed with the massive growth in LVMH’s share price. And it's not hard to see why they’re so profitable. It’s easy to make money when you can sell items of clothing for $5,000. While luxury brands build the perception of having the highest q...

Western Economies Fight Back! Jul 15, 2023

Send us a textWhen the Biden administration passed the Inflation Reduction Act and the Chips and Science Act for clean energy and tech last year, Americas trade allies in Europe and Asia were surprised. Now they are scrambling for ways to catch up. Are western economies in a war of subsidies with each other and China over technology and green infrastructure?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amz...

Why Are Cars Suddenly So Expensive? Jul 08, 2023

Send us a textOver the last three years we have seen the biggest car price increases in history. Last year the average cost of a new car in the United States was forty-seven thousand dollars and the average used car price today is just under thirty thousand dollars.Car buyers today aren’t just faced with higher car prices, the average interest rate on a new car or truck loan has reached just under nine per cent and car insurance costs are rocketing too. What is going on?Patrick's ...

How George Soros Broke the Bank of England! Jul 02, 2023

Send us a textIn The UK, September 16, 1992, is known as Black Wednesday, the day when speculators including George Soros and Stanley Druckenmiller "broke the pound." This expression is used to describe the moment in time where market forces coalesced to force the British government to exit the European Exchange Rate Mechanism (ERM) by removing its currency from that agreement. Joining the ERM was part of Britain's effort participate in a single European CurrencyPatrick's Books:Statistics For...

Britain’s Mortgage Crisis! Jun 23, 2023

Send us a textRising mortgage payments are squeezing the finances of millions of borrowers in Britain, threatening to undermine household spending and the broader economy.The dream of a soft landing that would have the Bank of England squeeze out inflation without condemning the country to a recession looks increasingly remote. Inflation has been more stubborn than expected and is forcing the central bank to go with a bigger-than-expected rate hike that took the key rate to 5%.What does this ...

The Scam of The Century! Jun 16, 2023

Send us a textAside from losing over 1.13 million people, the United States is thought to have lost billions of dollars in pandemic relief fund fraud, according to the most recent Associated Press analysis, published this week.The analysis discovered that fraudsters took more than US$280 billion in relief cash, while another $123 billion was lost or misspent.“Combined, the loss represents 10 percent of the $4.2 trillion the U.S. government has so far disbursed in aid,” according to the report...

The SEC Comes For Crypto! Jun 09, 2023

Send us a textThis week, the US Securities and Exchange Commission (SEC), filed lawsuits against Binance and Coinbase, two of the world’s biggest crypto exchanges, on which investors buy and trade a large offering of cryptocurrencies. The SEC’s main allegation against Coinbase is that it’s running an unregistered securities exchange — like if the Nasdaq independently operated without any regulatory oversight. Binance faces the same charge, as well as additional accusations that it appropriate...

How A Lottery Win Might Change You. Jun 02, 2023

Send us a textWe’ve all heard the story of how a lottery win, which at first may appear to be a great blessing slowly reveals itself to be a curse. In today's video we look at what happens to people after they win the lottery.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our websi...

How Will Turkey's Election Shape the Economy? May 25, 2023

Send us a textTurkish voters return to the polls this weekend to choose a president. Before the first round of the election, polls suggested that voters were evenly divided between the two biggest parties. However, Erdogan’s unexpectedly strong first round has put pressure on the Turkish lira and knocked other Turkish assets ahead of this weekend’s runoff vote. The official annual inflation rate in Turkey was 43.7% as of April. This is actually down from the 80% inflation rate tha...

The Problems In The Commercial Real Estate Market May 20, 2023

Send us a textThe next big potential risk to the U.S. economy may be lurking in office buildings across the country's downtown districts. With so many people still working from home, companies are cutting back on office space which threatens to unleash even more headwinds for the U.S. economy. What is going wrong in the commercial real estate market, and how might we be affected?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Fl...

The Death of Globalization! May 13, 2023

Send us a textThe three-decade era of globalization risks going into reverse according to company executives and investors. In this video we look at the economic evidence in a paper called Is the Global Economy Deglobalizing? by Pinelopi Goldberg of Yale University and Tristan Reed of The World Bank.Here is a link to the full paper: https://www.nber.org/papers/w31115Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor:&nb...

Hindenburg Research takes on Carl Icahn May 06, 2023

Send us a textLegendary corporate raider and activist Carl Icahn found himself on the wrong side of a familiar battle this week when the short selling investment firm Hindenburg Research took aim at Icahn’s publicly traded holding company, alleging in a new report that Icahn Enterprises L.P. (IEP) is overstating the value of its private asset portfolio, and that its publicly traded stock units–85% of which Icahn owns–are “significantly overvalued.”Icahn’s fortune fell over 35%, from $18.3 bil...

Why First Republic Bank Was Seized and Sold to JPMorgan? May 06, 2023

Send us a textThe FDIC took possession of First Republic Bank on Monday, resulting in the third failure of an American bank since March.JPMorgan Chase, already the largest U.S. bank by several measures, emerged as the buyer in a weekend auction for First Republic. It will get all of the ailing bank’s deposits and a “substantial majority of assets.”Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorp...

Would a BRICS Common Currency Work? Apr 28, 2023

Send us a textThe BRICS nations have been discussing the idea of creating a new currency to facilitate overseas trade. The idea was put forth by Russia as it faces economic sanctions from the West over its invasion of Ukraine.Meanwhile, some of the BRICS countries have already ditched dollar and are now trading in their local currencies.Brazil and China signed an agreement last month to abandon the dollar as an intermediary and settle bi-lateral trade in their own currencies and as many as 18...

Is Apple A Threat to Banks? Apr 26, 2023

Send us a textApple recently announced its latest financial product in partnership with Goldman Sachs — a savings account designed for Apple Card users. The high-yield savings account comes with a 4.15% interest rate and comes with no fees and no minimum deposit or minimum balance requirements. Plus, it has some extra benefits for users like automatic deposits of Daily Cash earned with the Apple Card and the ability to make an instant transfer to your Apple Wallet.This is considerably higher ...

How Good is Popular Personal Financial Advice? Apr 22, 2023

Send us a textThe term “Finfluencer” refers to a person who by virtue of their popular or cultural status has an outsize impact on investor decisions through social media influence. According to Sue Guan of Santa Clara University, a variety of finfluencers exist in today’s markets, ranging from simple celebrities that draw people's attention like Kim Kardashian to corporate personalities like Elon Musk or Ryan Cohen to ordinary investors who develop followings on YouTube, TikTok, and other so...

Forbes Has a Fraud Problem! Apr 15, 2023

Send us a textDisgraced Frank founder Charlie Javice has joined the likes of Elizabeth Holmes and Sam Bankman-Fried on a growing list of founders to be lavished with honors by the financial news outlet Forbes – only to later face criminal fraud charges.“The Forbes 30 Under 30 have collectively raised $5.3B in funding,” tech investor Chris Bakke tweeted on Tuesday. “The Forbes 30 Under 30 have also been arrested for frauds and scams worth over $18.5B. Incredible track record.”Victor Niederhoff...

Jamie Dimon Warns Banking Crisis 'Is Not Yet Over!' Apr 08, 2023

Send us a textJamie Dimon, the chief executive of JPMorgan Chase, warned that the banking crisis 'not yet over' in an annual letter to shareholders just weeks after the collapse of three US banks.He said he didn't expect the turmoil to lead to a global crisis like in 2008, noting that it involved "involved fewer players and fewer issues". But he warned the impact would linger.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor:&nbsp...

China's Overseas Bailouts! Mar 30, 2023

Send us a textChina has significantly expanded its bailout lending as its Belt and Road Initiative blows up following a series of debt write-offs, scandal-ridden projects and allegations of corruption according to a new paper "China as an International Lender of Last Resort" by Sebastian Horn of the World Bank; Brad Parks, a research professor at William & Mary University; Harvard’s Carmen Reinhart; and Christoph Trebesch, a director at the Kiel Institute. The researchers found 128 bailou...

The End of Credit Suisse! Mar 22, 2023

Send us a textAfter a weekend of intense negotiations, Swiss authorities brokered an emergency deal to sell Credit Suisse the troubled 167-year-old investment bank to its Swiss rival, UBS. A $54bil lifeline from the Swiss National Bank last week failed to stem the crisis facing Credit Suisse following Silicon Valley Bank’s collapse: its share price collapsed and the flight of deposits accelerated. The deal has prevented a globally important bank from failing. Under the terms of the deal,...

What's happening with Credit Suisse? Mar 19, 2023

Send us a textLet's discuss the ongoing controversy at Credit Suisse, if they are like Silicon Valley Bank and what this means for depositors and investors!Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/Pat...

Silicon Valley Bailout Mar 13, 2023

Send us a textA number of things went wrong at Silicon Valley Bank over the last days, weeks and years, there were huge failures of risk management. The risk manager would have some tough questions to answer, except that it appears that they didn’t have a risk manager on staff for almost nine months of the last year. There were issues tied to the different regulations applied to community banks when compared to national banks in the United States. There were investment decisions that we...

Bank Runs! Mar 10, 2023

Send us a textBanks don’t fail very often, and bank runs appear to be mostly a thing of the past. The last bank failure in the United States happened in 2020 when a small bank in Kansas failed. That two-year streak was broken this Wednesday with the failure of the crypto focused bank Silvergate, and on Friday with the failure of Silicon Valley Bank.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjs...

Artificial Intelligence. Mar 04, 2023

Send us a textLet’s talk about Artificial Intelligence, what it is, how it works and where it might be taking us. We’ll try and see if as an investor you should worry about missing the boat on AI, and as an individual should you worry about losing your job to these new technologies? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: ht...

Tulip Bulbs, Bored Apes & Bubbles Feb 25, 2023

Send us a textThe Dutch tulip bulb market bubble, also known as tulipmania, was one of the most famous market bubbles and crashes of all time. It occurred in Holland during the early to mid-1600s, when speculation drove the value of tulip bulbs to extremes. At the market’s peak, the rarest tulip bulbs traded for as much as six times the average person’s annual salary.Today, the story of tulipmania serves as a parable for the pitfalls that excessive greed and speculation in investing can lead ...

The $577 Million Nickel Fraud Feb 21, 2023

Send us a textThe commodities trading firm Trafigura has announced that it has been the victim of a “systematic fraud” and has to write-down over half a billion dollars after discovering shipments of nickel that it purchased from firms controlled by Prateek Gupta failed to contain the metal.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: ...

The Adani Group Scandal: What You Need to Know! Feb 10, 2023

Send us a textThe Adani Group, one of India’s biggest conglomerates, has come under fire from a small American short selling hedge fund called Hindenburg Research. The firm, run by Nathan Anderson, is known for uncovering fraud and other issues at companies like Nikola Corporation, Clover Health, and Lordstown Motors.Let's dig into the allegations, the evidence and Adani's response and discuss what this means for Gautam Adani and for India.Patrick's Books:Statistics For The Trading Floor:&nbs...

Brazil and Argentina - A Common Currency? Feb 06, 2023

Send us a textBrazil and Argentina announced last week that they are starting preparatory work on a common currency, in a move which could eventually create the world’s second-largest currency bloc. Does this move make any sense?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our we...

Winklevoss Twins in Hot Water! Jan 27, 2023

Send us a textIn today's video we look at the recent lawsuit against Gemini Trust Company, a crypto lending platform run by the Winklevoss twins and Genesis Global Capital a crypto lender run by Barry Silbert who are accused of breaking securities laws. We'll dive into the legal definition of what a security is and how it relates to crypto products. We’ll finish up by looking at whether Logan Paul’s Crypto Zoo which was exposed as a possible scam by Coffeezilla could be seen as an unregistere...

The US Hits Its Debt Ceiling Limit! Jan 21, 2023

Send us a textUS Treasury secretary Janet Yellen on Friday fired her first warning shot of the year to Congress about the need to raise America’s debt limit. “Failure to meet the government’s obligations would cause irreparable harm to the US economy, the livelihoods of all Americans, and global financial stability,” Yellen wrote to lawmakers.The US is hurtling towards its riskiest debt ceiling clash since 2011 and there is a real risk that America could default on its payments for the first ...

Egypt's Currency Crisis! Jan 14, 2023

Send us a textEgypt allowed its pound to tumble to a new low this week as the country struggles with a foreign currency crisis that is hurting businesses.The slump in the currency comes after Egypt agreed to move to a flexible currency regime as part of an IMF $3bn bailout intended to help relieve its foreign currency shortage.Since the central bank said it would move to a flexible currency rate in October, the pound has lost a third of its value as it has allowed it to devalue in phases. Ana...

China's Reopening Economy Jan 08, 2023

Send us a textWhile China is struggling with an unprecedented wave of coronavirus, and tens of millions are getting infected daily, the world’s second-largest economy is starting to show signs of coming back to life following the government’s decision last month to dismantle the zero-Covid system that aimed to control the virus at the cost of keeping the country isolated.Investors and analysts predict a brighter year ahead after disrupted supply chains and forced stoppages on factory floors h...

2022 The Year in Review Jan 08, 2023

Send us a textFrom Elon Musks Purchase of Twitter to the arrest and extradition of Sam Bankman-Fried, 2022 was an eventful year in the world of finance. In Today's podcast let's look at the major financial news events of the year to see if there is anything we can learn or laugh about. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https...

The $100 Million Influencer Pump & Dump Scheme. Dec 19, 2022

Send us a textFederal prosecutors and the SEC earlier this week charged seven Influencers with using Twitter, Discord and YouTube to commit securities fraud that netted them more than $100 million.An eighth influencer was charged with aiding and abetting the alleged scheme in the SEC’s civil complaint and with conspiracy to commit securities fraud in the Department of Justice’s criminal case.Each of the defendants had well over 100,000 Twitter followers as of this month, they ran a podcast ca...

The Case Against Sam Bankman-Fried Dec 15, 2022

Send us a textSam Bankman-Fried has been arrested, accused of engineering “one of the biggest financial frauds in American history.”In a Department of Justice indictment unsealed on Tuesday, Bankman-Fried has been charged with eight counts including conspiracy to commit wire fraud on customers and lenders, money laundering and violations of campaign finance laws. Bankman-Fried, who was arrested in the Bahamas on Monday, faces years in prison if convicted.The charges point to a long-running sc...

Why We Trust Fraudsters! Dec 10, 2022

Send us a textFrom Enron to Wirecard to Theranos and FTX, elaborate investment scams can remain undetected long after the warning signs appear. What are investors missing?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://...

Blackstone’s Investors Want Their Money Back! Dec 06, 2022

Send us a textStephen Schwarzman and Jonathan Gray of Blackstone have built the best fundraising machine on Wall Street, but now, the billionaire pair are in an unfamiliar position — having to return cash to clients who are asking for their money back.Blackstone’s stock price fell last week after it limited withdrawals from its $125bn real estate investment fund BREIT, after a surge of redemption requests.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivativ...

Sam Bankman Fried Explains the Losses at FTX. Dec 01, 2022

Send us a textSam Bankman Fried did two interviews with Tiffany Fong to explain what happened at FTX and where the customers money went. The first interview went out on the YouTube channel Coffeezilla yesterday.The Full Sam Bankman Fried Interview: https://www.youtube.com/watch?v=xP54LZB3WRw&t=1sCoffeezilla Video: https://www.youtube.com/watch?v=0rL35_WV3lE&t=85sPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor:&nbsp...

The Institutional Investors Who Lost With FTX Nov 24, 2022

Send us a textSince its launch in 2019, FTX has raised $1.8bn and was most recently valued at $32bn. Among its shareholders are some of the world’s most-respected hedge fund managers and Venture Capitalists. Now with FTX having filed for bankruptcy, their investments look to be a complete wipeout. Investors including Sequoia, SoftBank and Paradigm, which was co-founded by former Sequoia partner Matt Huang, have marked their holdings in the company to zero, vaporising hundreds of millions...

FTX: Worse Than Enron! Nov 19, 2022

Send us a textThe new chief executive of FTX, an insolvency professional who oversaw the liquidation of Enron, has said that the bankruptcy of the crypto group is the worst case of corporate failure he has seen in more than 40 years.John Ray III, who was appointed to run the FTX bankruptcy, said in a US court filing that he had never seen “such a complete failure of corporate controls and such a complete absence of trustworthy financial information”.Patrick's Books:Statistics For The Trading ...

FTX Bankruptcy Explained! Nov 12, 2022

Send us a textFTX, the cryptocurrency exchange recently valued at $32 billion dollars, has filed for bankruptcy protection in the US.The filing in Delaware federal court on Friday included the main FTX international exchange, FTX US a US crypto marketplace, Sam Bankman-Fried’s proprietary trading group Alameda Research and about 130 affiliated companies.In today's video we discuss what went wrong at FTX, and discuss the influencers who pitched FTX to their audiences.Patrick's Books:Statistics...

The Myth of The Robber Barons. Nov 08, 2022

Send us a textThe term robber baron is frequently used to describe men like Cornelius Vanderbilt, John D. Rockefeller and Andrew Carnegie, along with other powerful 19th-century American industrialists. These men came from nowhere and made fortunes building out Americas industrial infrastructure. In their pursuit of wealth, they put railroads in place, provided energy to American homes and manufactured the steel that built American cities. Many of the 19th Century American industr...

How China is Helping to Reduce Inflation. Oct 29, 2022

Send us a textChina’s crackdown on property developers and its “Zero Covid" policy are harming its economy and the economies of countries selling raw materials to China. But there is an upside to Xi's actions, these policies are reducing inflationary pressures in the rest of the world. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: ...

Is London the Dirty Money Capital of The World? Oct 22, 2022

Send us a textRussian oligarchs have kept their money in London for twenty years, encouraged by British bankers' lawyers and politicians. Critics say that the 'London laundromat' cleans dirty money from kleptocrats all over the world. This video looks at where dirty money comes from, how money laundering works why it took Russia's invasion of Ukraine to put this issue in the spotlight. From One Hyde Park to Bishops Avenue. Where is oligarch money kept in London?Patrick's Books:Statistics...

Semiconductors: The Geopolitics of the New Oil Oct 14, 2022

Send us a textThe United States has introduced new export controls to restrict Chinese companies access to the most advanced computer chips which can be used to develop cutting-edge technologies with military applications.The commerce department announced these restrictions last week which will make it extremely difficult for Chinese companies to obtain or manufacture advanced computer chips and will slow their progress in artificial intelligence.The measures are also designed to make it much...

Pension And Mortgage Chaos In The UK Sep 29, 2022

Send us a textThe Bank of England had to step in to calm markets after the British government's economic plan sparked a fall in the pound and caused borrowing costs to surge.The Bank warned that if the market volatility continued there would be a "material risk to UK financial stability."Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: htt...

Why Is The Pound Falling? Sep 27, 2022

Send us a textThe British pound plummeted on Friday after the government announced huge tax cuts in its mini-budget. It then plunged again on Monday, reaching $1.04 - the lowest level the pound has ever been against the dollar. Why is the British Pound Falling?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/P...

The Rise & Fall of Japan Sep 24, 2022

Send us a textFrom 1991 through 2001, Japan experienced a period of economic stagnation and price deflation known as "Japan's Lost Decade." This was caused by the collapse of an asset price bubble in late 1991. The term originally referred to the 1990s, but the 2000s and the 2010s can be added to the list due to the country’s economic stagnation. We’ll look at the postwar Japanese economic miracle, the bubble economy of the late 1980’s and the lost decades that Japan has experienced since.&nb...

Is Russia Winning The Economic War? Sep 16, 2022

Send us a textVladimir Putin announced in a speech last month that Russia had weathered the worst of the Economic sanctions imposed by Western nations. He said that “gloomy predictions about the Russian economy’s future didn’t come true” and that the sanctions had hit foreign economies much harder than they had hit Russia. He added that “The weaponry of sanctions is a double-edged sword… and European countries had dealt a serious blow to their own economies all on their own.” So are the sanct...

The Vaporware Salesman Sep 09, 2022

Send us a textJohn Keely was the founder of the Keely Motor Company. He announced that he had discovered a new physical force, one that, if harnessed, would produce unheard-of power. He claimed to be able to produce from a quart of water enough fuel to move a 30-car train from Philadelphia to New York City.Scientists and engineers scoffed at his unverified claims. After his death, an investigation was carried out, and examination of his apparatus - a supposed perpetual motion machine - showed...

Protests In China: The Story Behind the Bank Scandals. Sep 07, 2022

Send us a textIn China, a major financial crisis is unfolding. A few months ago, four rural lenders in the northern province of Henan froze the deposits of hundreds of thousands of customers and Chinese citizens in 86 cities are boycotting mortgage payments towards their homes. Confidence in the financial sector has plunged. In this video we look at the story behind the bank scandals.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Flo...

Will China Actually Allow Audit Inspections? Sep 01, 2022

Send us a textThe United States and China appear to have reached a landmark deal that would allow Chinese companies to remain listed on US exchanges, halting the threatened delisting of about 200 stocks that trade in New York.The announcement by US and Chinese regulators is a breakthrough after a prolonged standstill. Beijing has not allowed foreign regulators to inspect Chinese company audits, citing a desire to protect state secrets. US law requires Chinese companies to leave American stock...

The 1987 Crash - Wall Street History Aug 30, 2022

Send us a textThe first global financial crisis erupted in the autumn of 1987 on a day known as “Black Monday.” A chain reaction of market distress sent stock exchanges around the world plummeting in a matter of hours. In the United States, the Dow Jones Industrial Average dropped 22.6 percent in a single trading session, a loss that remains the largest one-day stock market decline in history. At the time, it marked the sharpest market downturn in the United States since the Great Depre...

The European Cost Of Living Crisis! Aug 25, 2022

Send us a textRising energy prices could push UK inflation as high as 18% next year according to Citi. European gas prices rose sharply this week due to supply fears, after Gazprom Russia’s energy firm announced it would shut down the Nord Stream 1 pipeline - the main gas supply line to Europe - to complete three days of unplanned maintenance.Right now, Britain and the EU are in the middle of a cost-of-living crisis driven by energy inflation. What can be done to prevent this from happening a...

Will The Inflation Reduction Act Reduce Inflation? Aug 19, 2022

Send us a textThis Tuesday Joe Biden signed into law a sweeping tax, healthcare, and climate bill, called the Inflation Reduction Act, a significantly pared back version of the “Build Back Better Plan” which he was pushing for last year.Fans of the new law claim that it will improve citizens’ finances while reducing the federal deficit and critics say it will lead to higher taxes for individuals and corporations, and that it will be ineffective at dampening inflation. Let’s look at the new le...

A Mistake To Avoid! Aug 12, 2022

Send us a textThis week, let's talk about Cathie Wood and The Ark Invest Disruptive Innovation Fund to see if there is anything we can learn from the rise and fall of ARKK? What mistakes do investors make when selecting funds to invest in.Jack Schwager - Market Sense & Nonsense: https://amzn.to/3SKBRgt Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to...

What Killed Sri Lanka's Economy? Aug 04, 2022

Send us a textIn late June, Sri Lanka’s prime minister Ranil Wickremesinghe announced that the country’s economy had “collapsed.” There was no money left to pay for imports of necessities like food, fuel and medicine, and the country was seeking help from neighboring countries and the IMF.Sri Lanka is going through its worst economic crisis since it gained independence from Britain almost 75 years ago. In today's video we ask the question, "What Killed Sri Lanka's Economy?"Patrick's Books:Sta...

China's International Debt Crisis Jul 27, 2022

Send us a textIn 2013 President Xi Jinping announced the launch of his signature policy, the Belt and Road Initiative, the largest transnational infrastructure program ever undertaken by a single country. Today though, many of the loans financing these huge infrastructure projects are going bad and going bad in record numbers. Today's video looks at the Belt and Road Initiative, how the projects are going and how recent events like Russia's invasion of Ukraine are affecting debtor natio...

Will Elon Musk Be Forced to Buy Twitter? Jul 16, 2022

Send us a textThis Tuesday, Twitter’s sued Elon Musk to force him to honor his legally binding agreement to buy the company. Twitter asked the Delaware Court of Chancery to fast-track a trial for September. According to the complaint “Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.”The Delaware court will examine the case on its merits...

Is DeFi Really Decentralized? Jun 25, 2022

Send us a textLast week, three DeFi (decentralized finance) groups stepped in with emergency plans to protect their projects and users from economic turbulence in the face of collapsing cryptocurrency prices.These DeFi crypto networks which had pledged to put users in control ended up taking charge themselves in order to survive the ongoing crisis in the digital asset market.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: ...

Investing In An Inflationary Environment! Jun 17, 2022

Send us a textInflation has turned from transitory to pernicious, with some economists even raising the specter of a 1970s-style wage-price spiral. Should you reposition your investment portfolio for an inflationary environment, shifting some of your money to sectors or asset classes that tend to do well during inflationary periods? Or should you leave your investments alone and let the markets control their long-term destiny? In today’s video we look at market history to see how securities p...

The Rise And Fall Of Blitzscaling! Jun 08, 2022

Send us a textBlitzscaling is what you do when you need to grow really, really quickly according to Reid Hoffmann the Founder of LinkedIn, and Elon Musk’s former partner at PayPal. Blitzscaling is high-impact entrepreneurship, it’s the science and art of rapidly building out a company to serve a large and usually global market, with the goal of becoming the first mover at scale.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor:&nb...

How Did Russian Oligarchs Get So Rich? May 30, 2022

Send us a textRussian Oligarchs have become synonymous with superyachts, luxury mansions and the shady political maneuvering of post-Soviet Russia. Since the Russian invasion of Ukraine, Russian billionaires like Roman Abramovich, Vladimir Potanin, Alisher Usmanov and Oleg Deripaska have been all over the news.The word Oligarch conjures up images of opportunistic, well-connected businessmen who made billions by plundering the remains of the collapsed Soviet state. But how exactly did Russia’s...

The Coming Food Catastrophe May 20, 2022

Send us a textThe widely accepted idea of a cost-of-living crisis does not begin to capture the gravity of what may lie ahead according to António Guterres, the UN secretary general. He warned earlier this week that the coming months threaten “the spectre of a global food shortage” that could last for years. The high cost of staple foods has already raised the number of people who cannot be sure of getting enough to eat by 440m, to 1.6bn. Nearly 250m are on the brink of famine.Patrick's...

Stablecoins Are Unstable! May 13, 2022

Send us a textThe $1.3tn cryptocurrency industry was on Thursday hit by one of its toughest challenges when stablecoin Tether — a critical cog in the market — failed to maintain its link with the US dollar. The company refuses to provide details on the Treasury holdings that back the stablecoin claiming their fear of revealing the ‘secret sauce.’Tether tumbled as low as 95.11 cents yesterday, far below the $1 peg that it seeks to maintain. Its price later recovered, but the slip-up, days afte...

The Economic Effects of China's Zero Covid Policy May 07, 2022

Send us a textXi Jinping has reaffirmed his commitment to China’s controversial zero-Covid strategy, warning against “any slackening” in the effort and vowing to crack down on criticism of the policy despite signs of damage to the economy.“Our prevention and control policies can withstand the test of history; our measures are scientific and effective. We have won the battle to defend Wuhan, we can also win the battle to defend Shanghai,” the statement said.Patrick's Books:Statistics For The T...

Bill Hwang arrested on fraud charges! Apr 30, 2022

Send us a textBill Hwang, founder of Archegos Capital Management, has been arrested by US authorities and charged with racketeering, fraud and market manipulation.The indictment accuses Hwang and former chief financial officer Patrick Halligan, of using Archegos as an “instrument of market manipulation and fraud” with “far-reaching consequences for other participants in the United States securities markets”.The case marks the first criminal charges against Hwang, one of the so-called Tiger Cu...

Elon Musk- Corporate Raider - Will He Actually Buy Twitter? Apr 22, 2022

Send us a textElon Musk - The world’s richest man has allegedly hired the investment bank Morgan Stanley and is trying to gather financing, so he can buy Twitter for $43 billion.According to The New York Times, Musk is evaluating various packages of debt and a loan against his shares of Tesla. Apollo Global Management, an alternative asset manager, is among the parties considering offering debt financing. The equity he needs is likely to be sizable.Last week, Elon Musk, made an unsolicited of...

The Weaponization Of The Dollar Apr 11, 2022

Send us a textThe sanctions on Russia’s central bank use the reserve currency status of the US dollar to punish an American adversary. Will the US dollar lose its exorbitant privilege? What currency might replace the US Dollar as a reserve currency?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/Patric...

Russian Oil Priced In Roubles Apr 02, 2022

Send us a textVladimir Putin has demanded payment in roubles for Russian gas sold to “unfriendly” countries, setting a deadline of 31 March for the transition.It is not clear whether he plans to tear up existing contracts that set the price in euros or dollars, but Germany, which relies on Russia for 40% of its gas supplies, is not taking any chances, warning large industrial gas users that a standoff is possible and rationing is one possible outcome.In todays video we ask why payment for Rus...

Planes Trapped In Russia! Mar 26, 2022

Send us a textAs the clock runs down to Monday's sanctions deadline for Russian airlines to hand back more than 450 leased planes worth almost $10 billion, foreign lessors are fast losing hope that they will get their planes back. As the owners rushed to repossess the planes, the Kremlin moved quickly to block this by passing a law allowing foreign airplanes to be re-registered in Russia, effectively nationalizing them.Aviation was an early business casualty of Moscow's invasion of Ukraine, a...

The Nickel Trading Catastrophe on the LME Mar 19, 2022

Send us a textIn markets, there are few principles considered more important by traders than the idea that when a commitment to a deal is made, it should stand come what may. So, there was uproar in the commodities market last week over the London Metal Exchange’s decision to bring the global nickel market to a halt and cancel futures trades because of a “short squeeze” on a Chinese tycoon facing potential billions of dollars of losses.In one of the most controversial moments in its 145-year ...

What Happens To Sanctioned Oligarchs Assets? Mar 12, 2022

Send us a textThe UK announced new sanctions yesterday relating to the Russian invasion of Ukraine, targeting seven oligarchs with links to Vladimir Putin. Among them is Roman Abramovich, the owner of Chelsea FC.In today's video we try to answer three questions: Who owns Chelsea FC right now? What happens with the other Russian assets being seized around the world? And, what happens with Russian financial assets like stocks and bonds that westerners own that have stopped trading due to ...

Will The West Ban Russian Oil Imports? Mar 05, 2022

Send us a textIn Today’s podcast we discuss if the west can place an embargo on Russian energy exports?Western leaders have threatened Vladimir Putin with sweeping sanctions over his invasion of Ukraine but, they have been clear that they would avoid disrupting energy supplies.Hitting energy exports is no longer as due to the brutality of Putin’s war and the idea of targeting oil and gas exports is no longer off the table — even if it damages western economies in the process.Canada - a tiny b...

The Economic Effects of Russia’s Invasion of Ukraine. Feb 27, 2022

Send us a textRussia’s invasion of Ukraine risks disrupting the export of critical commodities and rupturing supply chains. Industries from food to cars and fertilizer makers to aircraft manufacturers will be hit by disruption to exports.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit ou...

What Does Being Cut Off From SWIFT Mean For Russia? Feb 26, 2022

Send us a textThe US President said on Thursday that the United States and Europe were united in their efforts to confront Russian aggression toward Ukraine with aggressive sanctions. However, there was one area where he suggested that there was some disagreement: SWIFT.The messaging service, called the Society for Worldwide Interbank Financial Telecommunications, connects more than 11,000 financial institutions around the world. It is viewed as a potential nuclear option in the world o...

Meet Razzlekhan - 'The Crocodile of Wall Street' Feb 13, 2022

Send us a textA married couple has been arrested and charged with laundering billions in Bitcoin stolen during the 2016 Bitfinex hack, as the Justice Department announced its largest financial seizure ever. Ilya 'Dutch' Lichtenstein, and his wife, Heather Rhiannon Morgan aka Razzlekhan or The Crocodile of Wall Street, were arrested on Tuesday in Manhattan on federal charges of conspiracy to commit money laundering and conspiracy to defraud the United States.Federal law enforcement officials s...

DOJ Launches Criminal Investigation Into Short Selling! Feb 07, 2022

Send us a textUS criminal authorities are gathering information on contacts among dozens of short selling hedge funds and research outfits as they investigate possible trading abuses by hedge funds. This comes after complaints from GameStop and AMC Shareholders.The Department of Justice has sent subpoenas asking for information about a list of more than two dozen firms to a smaller group of market participants. Among other things, they are asking for calendar information and communicati...

The Consequences of China's Slowdown Jan 27, 2022

Send us a textChina’s Economy Is Slowing Which Could Have Big Consequences for the World.Economic output grew four percent in the last quarter, a slowdown from the previous quarter. Growth faltered as home buyers and consumers became more cautious. Construction and property sales have slumped, as the country grapples with power shortages, Covid-related restrictions, a crackdown on a range of companies, and debt troubles in its property sector. Some of those pressures could ease, but China’s e...

Private Money and Cryptocurrencies Jan 19, 2022

Send us a textIn the United States, the government is not the only entity legally allowed to issue money. Private citizens and businesses are allowed to do so, too, and throughout U.S. history, they have done this. This type of money is referred to as private money, and it had mostly disappeared from circulation until Bitcoin was created in 2009. Today more than eight thousand cryptocurrencies exist, and more are appearing every day.Why were private currencies so popular, and why are they com...

Pandemic Real Estate Bubble? Jan 13, 2022

Send us a textDuring the pandemic, house prices have increased even faster than they did in the period leading up to the 2007 financial crisis, stoking concern that another dangerous housing bubble is developing. In this week's podcast we compare the current real estate market to the bubble years before the global financial crisis of 2007-2008Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate...

Elizabeth Holmes Conviction – Is this a Golden Era of Fraud? Jan 06, 2022

Send us a textOn Monday we saw the fraud conviction of Theranos founder Elizabeth Holmes. This conviction we are told in the press has split Silicon Valley. Supporters worry that the spirit of entrepreneurship has been put in ‘jeopardy’ while others say she overstepped boundaries.Tim Draper, a venture capitalist and family friend of Holmes who provided early funding to Theranos, told the New York Times that the outcome made him “concerned that the spirit of entrepreneurship in America is in j...

2021 The Financial Year in Review Jan 01, 2022

Send us a textLet’s look back at the big financial events of 2021 and the lessons we learned. 2021 was an exciting year in markets, we had meme stocks, SPACs, hedge fund blow ups and the mainstreaming of crypto. The stock market went from strength to strength this year. The year started out with the short squeezes in GameStop and then AMC.As global economies bounced back from the pandemic, supply chains buckled due to shortages either of goods or people to deliver them. The squeeze on t...

Turkey's Rescue Plan - What to Make of Turkey’s Latest Currency Move? Dec 24, 2021

Send us a textHaving defied internal and external economic logic by repeatedly cutting interest rates, Erdogan opted this week for a new set of measures to stabilize its currency. What should we make of Turkey’s latest currency move?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our web...

Turkey's Unravelling Economy Dec 21, 2021

Send us a textThe Turkish lira has been in meltdown as President Erdogan rejected warnings on the dangers of his recent interest rate cuts. He vowed that there was “no going back”.The currency, which has lost about 40 per cent of its value against the dollar since the central bank started lowering borrowing costs in September, fell to a new record low of TL18.36 against the dollar on MondayTrading on Turkey’s main stock exchange was halted for the second consecutive session following a ...

Evergrande - The Lawsuits Begin! Dec 17, 2021

Send us a textChinese creditors have sued Evergrande for more than $13 billion dollars in as domestic companies owed money by the property development firm race against offshore bondholders to get paid.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow P...

Evergrande and Kaisa Default! Dec 09, 2021

Send us a textLink for next suggested piece: Chinese State Owned Developers Rescue Local Governments! - YouTubeInvestors are waiting for news about tens of millions of dollars of overdue interest payments owed by Chinese Property Developers Evergrande and Kaisa. The firms both appear to be overdue on payments to bond holders. Evergrande's shares closed at a new record low on Wednesday after falling by 5.5% in Hong Kong trade.If, Evergrande did fail to make these payments on time, the stage co...

Didi Delisting - Less Than 6 Months After IPO! Dec 07, 2021

Send us a textJust five months after going public on the New York Stock Exchange, Chinese ride-hailing giant Didi Global said it plans to delist from the New York Stock Exchange and pursue a Hong Kong listing as it bends to Chinese regulators angered by its US IPO.“Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong,” Didi said on its Twitter-like Weibo account on Friday.Didi did not explain it...

Short Selling Disasters! Dec 04, 2021

Send us a textSubscribe to The Daily Upside! (Free Business & Finance Newsletter) https://bit.ly/3lwt7LTShort squeezes have been all over the news this year as retail investors banded together to spoil the fun for hedge funds in some well-known stocks. Short squeezes are not new though, they’ve been around as long as short selling has. In today’s video we look at the most disastrous short selling fails to see what lessons we can learn. These are some of the craziest finance stories you wi...

My Investment Plan For 2022! Dec 01, 2021

Send us a textA few weeks ago, I made a video on how the world of investing has changed over the last few years. I explained how much easier investing had become in 2021, as there is much less of a need for the type of analysis people used to do in the past. The trick today is to invest in things that seem funny, and hope that Elon Musk then tweets about them. In today's video I lay out my investment plan for 2022.Patrick's Books:Statistics For The Trading Floor: https://amz...

What Is The Replication Crisis? Nov 25, 2021

Send us a textIn 2005, Stanford medical professor John Ioannidis published a bombshell essay titled “Why Most Published Research Findings Are False”, which noted that the results of many medical research papers could not be replicated by other researchers. Subsequently, several other fields have turned a harsh eye on themselves and come to similar conclusions. The heart of the issue is a phenomenon that researchers call “p-hacking”. Campbell Harvey, a professor of finance at Duke univer...

Chinese State Owned Developers Rescue Local Governments! Nov 18, 2021

Send us a textChinese state-owned developers are rescuing cash-strapped local governments in China by stepping to the fore at land auctions previously dominated by private sector groups like Evergrande.State-owned bidders include highly leveraged local government finance vehicles, which have traditionally focused on infrastructure projects rather than real estate. LGFVs have accounted for about one third of land purchases by value at auctions since September, compared with just over 10 per ce...

Elon Musk's $162 Million Dollar Joke Nov 17, 2021

Send us a textJP Morgan Chase is suing Tesla for $162 million over tweets in 2018 by Technoking Elon Musk that he would take the electric vehicle maker private.JP Morgan accuses Tesla of "flagrantly" breaching a deal it claims should have triggered payments to JP Morgan.JP Morgan's suit, filed in a Manhattan federal court, says that Tesla sold warrants to JP Morgan allowing the bank to purchase shares if the "strike" price was below Tesla's share price when the warrants expired in 2021."We ha...

How China’s CEOs Sold Stock At The Right Time Nov 13, 2021

Send us a textIn China, there is no better sell-signal than when the president, starts attacking an industry.So when Xi said in March that home-schooling was a “stubborn malady” that was putting too much pressure on Chinese children and their parents, the executives of two Chinese tutoring companies dumped their shares in New York according to records found by the FT.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https:/...

The Federal Reserve Warns About Evergrande Nov 11, 2021

Send us a textThe Federal Reserve warned that fragility in China’s commercial real-estate sector could spread to the U.S. if it deteriorates dramatically, as investor focus turns to China Evergrande Group’s biggest payment test yet. The Fed’s stability report, which is meant to highlight risks that could undermine the financial system, said that “stresses in China could strain global financial markets through a deterioration of risk sentiment, pose risks to global economic growth, and affect ...

Squashing Tether - The Coming Regulation in Stablecoins Nov 06, 2021

Send us a textFederal regulators requested more power from Congress to regulate stablecoins, a fast-growing type of cryptocurrency that they warn could result in bank runs and consumer abuse unless lawmakers act quickly, according to a report issued Monday by the Treasury Department.The report, which was undertaken by the President’s Working Group on Financial Markets, called on Congress to pass a law that makes issuers of stablecoins subject to requirements like those of traditional banks an...

Zillow's Home Flipping Business Made No Sense Nov 06, 2021

Send us a textZillow, the digital real estate company, said on Tuesday that it’s exiting Offers, its business that buys and flips homes, and eliminating 25% of its workforce.The announcement was attached to Zillow’s third-quarter earnings report. The company’s revenue and earnings missed analysts’ estimates.“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated,” Zillow CEO Rich Barton said in the release. “Continuing to scale Zillow Offers would res...

Squid Game Crypto Rug Pull Nov 02, 2021

Send us a textThe anonymous scammers behind a Squid Game cryptocurrency have officially pulled the rug on the project, making off with an estimated $2.1 million. Investors were able to purchase the crypto but couldn’t sell it. The SQUID cryptocurrency peaked at a price of $2,861 before plummeting to $0 around 5:40 a.m. ET., according to the website CoinMarketCap. This kind of theft, commonly called a “rug pull” by crypto investors, happens when the creators of the crypto quickly cash out thei...

Ending The Tragedy of The Commons Oct 30, 2021

Send us a texthttps://teamseas.org/ The Tragedy of the Commons is an economic idea made popular by the American ecologist Garrett Hardin, who used the analogy of ranchers grazing their animals on a common field. Individual ranchers will seek to add additional livestock, to increase their profits. The benefit of adding additional animals accrue to the rancher alone, while the costs are shared. The tragedy is that ultimately the field will be destroyed, due to overconsumption. ...

Meme Coins & The Elon Markets Hypothesis Oct 28, 2021

Send us a textIn this video we look at meme coins and learn about the Elon Markets Hypothesis. Patrick explains why he is all in on Shibu Inu.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePat...

Do Companies Pay For S&P Index Membership? Oct 26, 2021

Send us a textDo Companies Buy S&P500 Membership? A new working paper attempts to figure out why some companies make it into the blue-chip stock market index.In recent years there has been a huge shift away from active asset management and towards passive, index-tracking funds. The indices that these funds follow have in turn gained enormous power, becoming gatekeepers to the flow of trillions of dollars.Names like S&P Dow Jones, FTSE Russell and MSCI are the biggest index providers a...

Everything You Thought You Knew About GameStop Was Wrong! Oct 21, 2021

Send us a textThe SEC published its report on GameStop $GME this Monday, which focuses on the January 2021 trading activity of GameStop Corp (GME), the most famous of the "meme stocks." Because the meme stock episode raised several questions about market structure, the staff report also provides an overview of the equity and options market structure for individual investors.The SEC Report on GameStop: https://www.sec.gov/news/press-release/2021-212Patrick's Books:Statistics For The Trad...

Bitcoin on The Big Board - The New Bitcoin ETF Oct 18, 2021

Send us a textThe first bitcoin-linked ETF is scheduled to make its NYSE debut officially on Tuesday morning.The new ETF from ProShares, will track the bitcoin futures market and trade on the NYSE under the ticker “BITO.”According to ProShares a multitude of investors have been eagerly awaiting the launch of a bitcoin-linked ETF after years of efforts to launch one, BITO will open up exposure to bitcoin to a large segment of investors who have a brokerage account and are comfortable buying st...

Biggest Trading Mistakes! Oct 16, 2021

Send us a textA small London based crypto asset trading platform called DeversiFi got quite a shock two weeks ago when it mistakenly paid out a $24m fee to a large crypto miner. Transferring crypto deposits generates a fee, known in the industry as a “gas fee”, to compensate miners for the computing energy used to verify transactions on the blockchain. DeversiFi should have paid out around $5, but instead transferred 23.7 million dollars due to an error in their code.A few fat finger errors l...

Evergrande Audit Failure! Oct 13, 2021

Send us a textPricewaterhouseCoopers earned over forty million dollars in fees auditing China Evergrande and signed off on the accounts presented to them by management for all of those years. PWC is likely to face criticism over the level of push back they gave to management over accounting policies that could have shown warning signs about the company’s financial health many years before the collapse.Around the world, auditors have faced criticism when companies have collapsed, and aud...

Could Evergrande Impact Global Property Prices? Oct 12, 2021

Send us a textChina’s crackdown on property developers threatens the London property market.Evergrande, the world’s most indebted developer, sparked fears across global markets as it missed a crucial interest deadline on its offshore debts. This week, another developer, Fantasia, defaulted on an offshore bond. A property consultant close to London’s development market was contacted in the wake of the Evergrande crisis by a UK regulator with concerns about the risks of contagion in London. “Th...

The Pandora Papers - Everything You Need To Know! Oct 09, 2021

Send us a textRevelations from nearly 12 million leaked confidential financial records have thrown light on the concealed wealth of powerful public figures around the world. How do they hide their money, and why is this information important? The Pandora Papers were released this week showing that Jordan’s King - Abdullah II amassed $100 million in property including homes in The United States and London. An alleged mistress of Vladimir Putin, Russia’s leader managed to covertly buy a lu...

Another Evergrande? Fantasia Holdings Defaults! Oct 09, 2021

Send us a textOn the heels of Evergrande’s debt crisis, there are increasing signs of stress in China’s real estate market after Fantasia Holdings failed to make a bond payment.Fantasia Holdings, a Chinese developer of luxury apartments missed $315 million in payments to lenders on Monday, sparking fears that financial strains in the country's outsized property sector are spreading beyond the troubled Evergrande conglomerate.Fantasia Holdings, a Shenzhen-based developer, missed repaying $206 ...

Are Rising Energy Prices The First Sign Of Greenflation? Oct 05, 2021

Send us a textOver the last month the news has been dominated by stories of energy shortages around the world. China has seen major industrial output cuts caused by power outages over the last year, European gas prices are trading near record highs and the UK is reeling from the political fallout of a surge in energy prices. US oil prices rose to the highest level in seven years after OPEC and its allies declined to accelerate plans to increase crude production, snubbing calls from the White ...

What Does China's Crypto Ban Mean? Will Other Countries Follow Suit? Sep 30, 2021

Send us a textIn the latest of a series of crypto crackdowns, Chinas central bank announced on Friday that overseas facilities offering cryptocurrency services inside China are “illegal”. It warned that any local staff who help these businesses operate, or even provide marketing and technical support, “shall be investigated”. This is the most direct crackdowns by a major regulator against “offshore” exchanges that have proliferated as interest among traders has boomed in Bitcoin, Ethereum, Do...

Evergrande & The Chinese Economy Sep 23, 2021

Send us a textThe financial woes of Evergrande the once-mighty Chinese property developer highlight a showdown between two competing objectives for China's Communist Party. They aim to force China's private sector away from speculative and risky lending practices while avoiding a financial meltdown and the collapse of the property sector, in which more than 70% of the nation's urban wealth is locked up.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives ...

Evergrande Wealth Management Products - A Ponzi Scheme? Sep 22, 2021

Send us a textIn an interview with local media, an Evergrande financial adviser said the products were a type of “supply chain finance”. While the money from retail investors may in years past have gone to its suppliers, the Evergrande executives in Shenzhen receiving retail investors said this was no longer the case.One of the executives of Evergrande’s wealth management division said Hubei Gangdun was just a shell company. “Proceeds from the Wealth Management Products have been used to brid...

Evergrande Crisis Intensifies Sep 21, 2021

Send us a textThe liquidity crisis at Chinese property developer Evergrande shook global markets this morning with stocks falling in Asia, Europe and New York.The S&P 500 fell 2.1 per cent in afternoon trading, while the Nasdaq Composite slipped 2.6 per cent. The Vix, which measures expected volatility on the S&P, hit 26.5 — around its highest level since May.Monday’s sell-off came after shares in Evergrande, the world’s most indebted property developer, closed 10 per cent lower in Ho...

Evergrande - China Faces a Potential Lehman Moment Sep 18, 2021

Send us a textThe implosion of Lehman Brothers, 13 years ago this week, showed the world how the collapse of a single company can send shockwaves around the world. Echoes from that event are resounding today as a massive Chinese property developer teeters on the brink of default.The collapse of Evergrande Real Estate Group - China's second-largest property developer with $310 billion of debt outstanding, could set off a chain reaction that spreads overseas.Wall Street is keeping a...

Investing In Collectibles - Are NFT's Digital Beanie Babies? Sep 16, 2021

Send us a textThe Beanie Babies Bubble is a particularly entertaining story which highlights all the hallmarks of a mania. Mass delusion. Speculation. Out of control expectations. The herd mentality.Right now, it might appear that we are in another collectibles boom, in February this year, a Michael Jordan basketball card sold for $738,000 at auction. The exact same card had traded for more than half a million dollars less just a few weeks earlier. A Klon Centaur guitar effects pedal is being...

The Difference Between Trading And Investing Sep 09, 2021

Send us a textIn today's podcast Patrick discusses the famous Warren Buffett quote “calling someone who trades actively in the market an investor “is like calling someone who repeatedly engages in one-night stands a romantic.” from his 1991 letter to investors.Topics covered are: what is the difference between trading and investing? Is one better than the other, and does it make sense to discourage short term trading? Patrick's Books:Statistics For The Trading Floor: https://amzn....

Billionaires Who Lost Everything Sep 02, 2021

Send us a textAccording to Forbes Magazine there are 2,755 billionaires in the world today. The top five industries where they made their money are Finance, Technology, Manufacturing, Retail and Healthcare. It is rare to become a billionaire, but even more unusual to reach that level and then lose everything, but it is not unheard of. Today we’ll look at ten one-time billionaires who later went bankrupt, and one whose net worth fell from eight billion dollars to two million dollar...

Do Central Bankers Care About Rising House Prices? Aug 26, 2021

Send us a textWhy don’t central bankers care about rising asset prices?For most people their greatest expense is housing. According to the Bureau of Labor Statistics, Americans spend almost 40% of their take home pay on shelter, this might lead you to ask - why aren’t home prices included in measures of inflation? And should they be? Is real inflation much higher than is being reported in the CPI because of asset price inflation? Patrick's Books:Statistics For The Trading Floor: h...

Should Politicians Trade Stocks? Congressional Insider Trading Aug 17, 2021

Send us a textInsider trading, or the act of buying or selling investments based on nonpublic information, is against the law in the United States and in most countries. At its core, insider trading benefits well connected investors at the expense of the general public and it has been illegal in the US since 1934 – at least for corporate insiders. I made a video a few months ago on the biggest insider trading scandals, and a lot you asked in the comments section “what about politicians”...

Sinner or Saint - ESG Investing vs. Vice Investing Aug 10, 2021

Send us a textESG (or environmental, social and governance) investing is one of the hottest things in markets right now, with large fund managers competing to be seen to take ESG more seriously than the next. Setting aside any moral judgements, the commercial rationale for the investment management industry is pretty clear: ESG funds have attracted about $350bn over the last two years, almost twice as much as the rest of the stock fund universe combined.The opposite of ESG investing is ...

Insider Trading on The Dark Web Aug 03, 2021

Send us a textApostolos Trovias was recently arrested in Peru and charged by the SEC with perpetrating a fraudulent scheme to sell what he called "insider trading tips" on the Dark Web. According to the complaint, Trovias, using the online avatar "TheBull" engaged in a deceptive scheme to sell "insider trading tips" on Dark Web marketplaces like Alpha Bay. The Bull claimed that the information he was selling consisted of order-book data from a securities trading firm that was provided to him ...

Consumer Protections in Crypto Investing Jul 27, 2021

Send us a textLast week Janet Yellen called for rapid action to ensure there is an appropriate US regulatory framework in place for crypto-assets. A month ago the Basel Committee on Banking Supervision said that banks’ exposures to crypto should carry the toughest capital requirements. Todays video looks at what consumer protections are in place for crypto investors today. What regulations protect you? What happens if you are hacked, or if a crypto exchange goes bust? What will the SEC do abo...

When Pubs Briefly Replaced Banks in Ireland Jul 21, 2021

Send us a textToday we are going to discuss the Irish Banking Strike of 1970 when all of the countries clearing banks closed for over six months, only to find themselves quickly replaced by local pubs. We will discuss if something like this could work again, and at the end of the video we will compare how the system that emerged compares to more modern ideas like cryptocurrencies.Between 1966 and 1976, there were three major banking strikes in Ireland in which all of the clearing banks were c...

The First SPAC on The Moon! Jul 15, 2021

Send us a textSEC Charges Stable Road SPAC and Space Startup Momentus with Misleading Claims.The SEC announced on Tuesday that it charged blank-check company Stable Road Acquisition Corp (SRAC.O), its sponsor SRC-NI, space exploration company Momentus Inc and two executives for misleading claims over their planned merger.The SEC said the companies and Stable Road Acquisition Company Chief Executive Brian Kabot agreed to pay $8 million to resolve allegations they misled investors about Momentu...

Should Companies Make Political Donations? Jul 10, 2021

Send us a textCompanies across major sectors of the market are reassessing political donations in response to the January 6th storming of the U.S. Capitol, but it is too soon to know whether it leads to fundamental changes in the way money flows between politics and business. In this video we discuss whether companies should make political donations?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cj...

China cracks down on Didi days after IPO Jul 05, 2021

Send us a textDiDi is a Chinese Ride Hailing app that raised $4.4bn in its listing on the New York Stock exchange this Wednesday. This was the biggest Chinese listing in the US since Alibaba listed seven years ago. The stock initially rallied, then two days later news broke that the Chinese regulators are investigating the company. They say they are doing this “in order to maintain national security and protect the public interest.” The stock fell 5.3 per cent on Friday to $...

Lordstown Motors Executives Sold $8 Million of Stock Before Bad News Broke Jun 23, 2021

Send us a textMembers of the leadership team at Lordstown Motors appear to have sold large amounts of company stock just before reports of various troubles at the company became public. Five top Lordstown executives—including president Rich Schmidt, now former chief financial officer Julio Rodriguez, and propulsion head Chuan "John" Vo—sold some of their shares worth a total of more than $8 million in early February when the stock was worth around $24 a share. Today, it's worth around $10.Pat...

Where Have All The Stocks Gone? Jun 16, 2021

Send us a textThe Private Capital Industry Soars Beyond $7 TrillionOver the past twenty years, the number of companies listed on the US stock market has almost halved. The world’s largest, most liquid public equity market would appear to have lost its shine.Institutional investors have been piling into private markets instead, in particular venture capital, private equity and private debt. The Financial Times reported last week that the size of the private capital industry has now reached $7....

Inflation - A New Era? Jun 08, 2021

Send us a textUnprecedented stimulus measures to help the global economy recover from the pandemic are fueling price rises in many major economies. This week we examine whether this is just temporary, or if inflation is back for good. Is this a new era of hyperinflation?Interview With Manoj Pradhan: https://www.youtube.com/watch?v=SHf0o...Book by Manoj Pradhan - The Great Demographic Reversal: https://amzn.to/2TBpGsaPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerL...

Robinhood IPO Access Jun 08, 2021

Send us a textRobinhood will give retail investors access to IPO shares. Robinhood announced last week that they are building a platform to “democratize” initial public offerings, including their own, that would allow users of its trading app to buy shares alongside Wall Street funds.The move could erode Wall Street’s grip on stock market flotations. It would be easier to implement for Robinhood’s own IPO, given how companies and their investment bankers tightly control allocations to investo...

The Five Biggest Insider Trading Scandals May 20, 2021

Send us a textThe top five insider trading scandals. When people hear the term “insider trading,” they think of the crime. But insider trading is just the trading of a public company's securities by people with access to nonpublic or insider information about the company. There are rules around how insiders are allowed trade, forms they must fill out and so on, and these differ around the world.Insider trading becomes illegal when a person bases their trading decision on information that the ...

Wall Street Quants - A History May 06, 2021

Send us a textI have been a trader for over twenty years, and from the start of my hedge fund career working with Victor Niederhoffer I have taken a quantitative approach to researching and executing trading strategies. A quant trader is a trader that builds statistical models to test trading strategies rather than relying on intuition and experience. Today we will look at the history of Quantitative Trading from 4000 years ago up until the present day. We will discuss the contributions...

What Are The Odds Of A Double Yolk Egg? Apr 29, 2021

Send us a textTodays podcast is a fun look at probability and statistics. We learn about double yolk eggs, why do they happen, what is the probability of finding one, and if you get one double yolker egg in a carton what is the probability of finding more than one? In probability, two events are independent if the incidence of one event does not affect the probability of the other event. If the incidence of one event does affect the probability of the other event, then the events are de...

The Bitcoin Green Revolution - Is Cathie Wood Right About Bitcoin? Apr 26, 2021

Send us a textWe look at the latest research from the good folks ARK Invest and payment company Square titled “Bitcoin is Key to an Abundant, Clean Energy Future”. Are Cathie Wood and Jack Dorsey right about the bitcoin green revolution?The white paper Square and ARK Invest ($ARKK) published this week aims to justify bitcoin’s energy use and explain how it could be the key to a future of clean energy. Square, a fintech founded by Twitter CEO Jack Dorsey, has invested $220 m in bitcoin, ...

New Companies Vs. Old Apr 16, 2021

Send us a textA study by McKinsey found that the average life-span of S&P 500 companies has fallen from 61 years in 1958 to less than 18 years today. McKinsey predict that, by 2027, 75% of the companies currently included in the S&P 500 will have disappeared.So, What happens to these companies? Well, many will be bought- out, merged, and some will even go bankrupt like Lehman Brothers and Worldcom did. Some companies keep on going. General Electric, Exxon Mobile and Procter & Gamb...

Gamestop Selling New Shares $GME Apr 06, 2021

Send us a textTwo months after Reddit day traders took GameStonk ( $GME ) shares to surprising heights in a massive short squeeze, the video game retailer is finally trying to cash in. On Monday, it announced plans to issue up to 3.5 million new shares worth $650m via an “at-the-market” offering, or ATM. The structure allows the issuer to raise cash bit by bit over the course of months or years. This is reasonable opportunism. Despite a pullback, GameStop shares are still up 900 per cent this...

The Archegos Capital Blow-up Mar 31, 2021

Send us a textArchegos Capital: The little-known family office of Bill Hwang convinced almost every big bank to lend enormous sums to it. One of the so-called Tiger Cub veterans of Julian Robertson’s Tiger Management fund, Hwang was, after all, a man who had run into trouble before, having been banned from trading in Hong Kong and fined millions in the US to settle illegal trading charges in 2012. Hwang, used to run a hedge fund called Tiger Asia, but he returned outside money aft...

The Collapse of Greensill Capital Mar 24, 2021

Send us a textThe Collapse of Greensill CapitalSoftBank-backed Greensill (a fintech company) lent billions of dollars to companies that included the highly indebted metals conglomerate GFG Alliance, silicon valley Construction Technology company Katerra and West Virginia mining company Bluestone Resources. These loans were packaged into bonds which were sold as a fund by Credit Suisse.Greensill was funded by its own German-based and regulated bank and via Zurich-based Credit Suisse Asset Mana...

The Next Hedge Fund Scandal Mar 17, 2021

Send us a textWhat is the latest free money for Wall Street Hedge Funds? SPAC Arbitrage, which is an investment strategy that seeks to acquire shares or units of a special purpose acquisition company (“SPAC”) at or below its net asset value (“NAV”) in order to generate a return through either:An exit at a premium to NAV once the SPAC announces a business combinationAn exit at NAV, being the IPO price plus accrued interest, while keeping the SPAC WarrantIzzy Englander’s Millennium Management i...

The Infinite Money Machine Mar 10, 2021

Send us a textThe story I am about to tell you will contradict almost everything I have taught people about risk and return, about how easy it is to make money and about arbitrage in markets. Today I’m going to tell you how an experimental physicist Konstantin Anikeev discovered an infinite money machine and used it to make $310 thousand dollars. In addition he made this money in such a way that the IRS could not even tax him on the income. because Konstantin doesn’t have to pay taxes o...

Top Five Corporate Scandals of The Century Mar 06, 2021

Send us a textIn today's Podcast we look at some of the biggest corporate scandals since the turn of the century. They are listed in no particular order - let’s see if there is anything we can learn from them.Patrick's Books:Statistics for The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onf...

The Best Performing Stocks of The Last 100 Years Feb 19, 2021

Send us a textIn today's podcast we discuss the top performing stocks of the last 100 years. Which countries have had the best performing stock markets, and which factors drive outperformance. Every year, in association with Credit Suisse, Elroy Dimson, Paul Marsh and Mike Staunton of London Business School, release The Credit Suisse Global Investment Returns Yearbook which analyses global market returns since 1900. The 2020 edition gives us the insights gleaned from examining 120...

Victor Haghani - From Long Term Capital Management To Elm Partners - Investing Lessons Feb 12, 2021

Send us a textIn today's podcast Patrick Boyle interviews Victor Haghani, former Long Term Capital Management Partner about Salomon Brothers in the days of Liars Poker, What it was like working at LTCM, different approaches to investing, short squeezes, arbitrage and how Victor invests today. We talk briefly about the GameStop short squeeze, Melvin Capital and why Steve Cohen and Citadel might have invested more money.Victor has spent more than 40 years in the world of finance, from the Londo...

Day Trading and Leverage - The Kelly Criterion Feb 04, 2021

Send us a textThis weeks podcast discusses some of the lessons that can be taken from the world of gambling that might help a trader with sizing their trades. We discuss what returns a trader might reasonably expect from the market. We look at the Kelly criterion (also known as the Kelly system or Kelly formula), to see if it can provide any insights to investors.Patricks' Books:Statistics for Traders: https://amzn.to/3eerLA0Financial Derivatives: https://amzn.to/3kwsPSrCo...

Wall Street Bets & The GameStop Short Squeeze - What Is Going On? Jan 30, 2021

Send us a textFinancial markets have been thrown into turmoil over the last week by retail investors using social media chat groups such as the Reddit forum Wall Street Bets and low-cost investment platforms to drive up shares in GameStop, a US video game retailer. In what is called a “short squeeze”, the share buyers are putting intense pressure on hedge funds such as Melvin Capital and other institutional investors, who bet that these equities would fall. GameStop is a struggling bric...

The Story of James Simons - Renaissance Technologies & Medallion Fund Jan 25, 2021

Send us a textJames Simons is a mathematician and cryptographer who realized that the complex math he used to break military codes could also explain patterns in the world of finance. Jim Simons has been described as "the world's smartest billionaire", amassing a fortune through the clever use of mathematics and computers. He has stepped down as the chairman of Renaissance Technologies, the most successful quant hedge fund in history this January. Simons has not overseen the day-to-day runnin...

The Dot-Com Bubble - Wall Street History Jan 16, 2021

Send us a textThe Dot-Com bubble was one of the largest speculative bubbles in U.S. stock market history. Here's a quick history lesson on what it was like twenty years ago. The Dot-Com Bubble was a major economic event that ultimately led to a three year bear market. The Dot-Com Bubble started in the 1990s with a rapid wave of new internet companies going public by IPO. Many of these dot-com stocks while unprofitable, skyrocketed in value. In this video, we explain what caused the Dot-Com Bu...

What Is a SPAC or Special Purpose Acquisition Company and Should You Invest? Jan 08, 2021

Send us a textWhat is a special purpose acquisition company (SPAC)? or blank check company? Should you invest in SPACs, and how do they work? A SPAC is publicly-traded shell companies that raise collective investment funds through an initial public offering (IPO) in the form of a blind pool. The funds are placed into a trust until an acquisition is made or a predetermined period of time elapses and the fund is liquidated. SPACs are increasingly being viewed as an alternative to the IPO proces...

John Law - The First Financial Engineer - A History of Paper Money and The Mississippi Bubble Jan 08, 2021

Send us a textJohn Law was a Scottish monetary reformer and originator of the “Mississippi scheme” for the development of French territories in America.After killing an adversary in a duel, he fled to Amsterdam, where he was a professional gambler and learned about banking operations. A decade later he returned to Scotland and wrote his best-known work, Money and Trade Considered, with a Proposal for Supplying the Nation with Money (available on Amazon at this link https://amzn.to/2Wkts7p). H...

How Demographic Changes Will Affect Your Portfolio - With Manoj Pradhan - Talking Heads Macro Jan 07, 2021

Send us a textAn Interview with the leading expert on demographics and macroeconomics Manoj Pradhan. Manoj has just published a new book along with Charles Goodhart, former member of the Bank of England Monetary Policy Committee and an Emeritus professor at the London School of Economics. The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival is one of the most interesting economics books of 2020 and is available on Amazon at this link: http...

Unknown Market Wizards - Jack Schwager - The Worlds Greatest Unknown Traders Jan 07, 2021

Send us a textJack Schwager on the worlds greatest unknown traders.An interview with Jack Schwager, the author of The Market Wizards series of books, on his new book, Unknown Market Wizards. Jack has been involved in financial markets for over 45 years, he worked as a market analyst, a trader, managed institutional portfolios of managed accounts, and has written extensively on the futures industry. He is most famous for his Market Wizards series of books, interviews with great traders i...

Day Traders To Billionaires - Online Trading in the 1990's Jan 07, 2021

Send us a textTodays podcast is about the history of day trading and day traders. In order to better understand how markets work it is worth taking a look at the history of retail day trading, which goes back to the late 1980’s, when new technologies allowed a small group of smart and aggressive traders to take on Wall Street and win. Nasdaq market makers at the time called these traders the SOES bandits. We discuss the market inefficiencies that the early day traders were exploiting, w...

Top Ten Finance Books For Traders - Best Finance Books Jan 07, 2021

Send us a textToday's episode is a list of my top ten books for traders, or the best finance books to read to learn about the financial industry. I decided to come up with a list of books that are not just filled with knowledge, but that are also really enjoyable reads – the kind of book that it is hard to put down. There are no university textbooks on this list, no Random Walk Down Wall Street or The Intelligent Investor. To make the list the books had to be interesting, ed...

Millionaire Habits That Could Change Your Life Jan 07, 2021

Send us a textMillionaire Habits That Could Change Your Life. In today’s podcast, I will share thirteen millionaire habits, things that self-made millionaires do that poor people do not. According to Fidelity, only 12% of today's millionaires in America inherited a significant portion of their wealth. One of the most effective ways to build wealth is to study those who have done so already. While taking on these habits won't necessarily make you rich, they might be a step in the right di...

George Soros - Reflexivity Explained Jan 07, 2021

Send us a textTodays Episode is about George Soros and Macro Investing. George Soros is the most famous Macro Hedge Fund Investor. His Theory of General Reflexivity in economics is the theory that a feedback loop exists in which investors' perceptions affect economic fundamentals, which in turn changes investor perception. The theory of reflexivity has its roots in sociology. Soros believes that reflexivity disproves much of mainstream economic theory and should become a major foc...

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