Elon Musk Takes Shot at Shortsville

Apr 3, 2017
J. Webster
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There's a rule in the stock market that you usually don't go after the "shorts". The "shorts" being those investors/traders who are shorting your company's stock. It just hasn't proven to be a successful strategy. During the financial crisis, banks in trouble blamed the shorts. But in this case, Elon Musk is sort of stomping on the shorts while his stock soars higher. Who knows who will be right in the long run, but probably not a good idea to bet against someone who's landing rocket ships on boats. Today Tesla's stock is up nearly 6% and hit a new

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Kellyanne Conway Spoke at Point72 Asset Management

Apr 2, 2017
J. Webster
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I wonder just how much Kellyanne Conway was paid for her "speaking engagement" at Point72 Asset Management? I guess, according to the financial disclosure it had to be at least or more than $5K. But when exactly did she give the speech, was she working for Ted Cruz or Donald Trump at that point? I think the primary was over so it would have when she switched to Trump. And it's not the first time Conway has given how some stock market related advice, she's tweeted out the markets like Trump's "policies, actions and vision".
Kellyanne Conway, one

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Robert Mercer’s Hedge Fund Trying to Avoid Tax “Abuse” Charge

Mar 19, 2017
J. Webster
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Just how long does the hedge fund Renaissance Technologies hold on to a stock? What's the average time period they hold on to a stock in general? I'm guessing it's a bit shorter than say, Warren Buffett,...who might hold on to a stock for ten or twenty years while Renaissance Technologies might trade in and out of a stock in less than a second. I'm also guessing that the Trump administration is going to side with the reclusive hedge fund tycoon who backed his campaign on this one...but man, nearly $7 billion owed in taxes on this question of short

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That Time Steve Bannon’s Dad Sold All His AT&T Shares…

Mar 15, 2017
J. Webster
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Back in 2008, when the stock market was in the midst the financial crisis and the economy was on the verge of the Great Recession, Steve Bannon's Dad decided to sell all of his AT&T shares based on a Jim Cramer interview on the Today Show...? Why sell all of your AT&T shares when they have a dividend...? And AT&T isn't a high flying Internet stock, it's an old school buy and hold and collect the dividend stock. In fact, I'm sure it's one stock that Cramer would have said not to sell, since it has a dividend. I think AT&T

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S.A.C. Capital Wanted to Know If There Was a Penny Change…

Mar 10, 2017
J. Webster
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S.A.C. Capital did a lot of trading of stocks...and they demanded something in return for all that stock trading. If a firm was going to change their expectations of a company's earnings, even by a penny, they wanted to know before anyone else. That's just the way it worked they thought. If they were spending so much money with a firm trading stocks...they wanted to know if any analysts changed their earnings estimates or if they were going to upgrade or downgrade a stock. So it's what S.A.C. Capital demanded of Goldman Sachs, it seems... And interestingly enough,

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Everyone’s Favorite Massage Therapist at S.A.C. Capital

Mar 10, 2017
J. Webster
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This isn't quite like some of the "massage methods" used in Showtimes' TV show Billions, but hedge fund traders at S.A.C. Capital had a favorite massage therapist who would walk on their backs when they got too stressed out about certain stock trades they'd placed that weren't going their way.... This is just one of many crazy details in the book Black Edge about S.A.C. Capital and its founder Steve Cohen.

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Body Language Analysis at S.A.C. Capital

Mar 10, 2017
J. Webster
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How often do hedge fund representatives meet with CEOs of companies? And when they do, how often is almost their main goal to gauge their mood and or body language..? Does this still go on? Most traders don't meet with CEOs...and most people who buy stocks when hedge funds do don't know when they change their mind and sell a position... At S.A.C. Capital, Steve Cohen's former hedge fund, body language and how a CEO acted when they were asked questions was a big tell for how they'd go about investing in these companies...especially or at least one particular biotech company

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Young Fearless Girl Versus Wall Street Bull

Mar 8, 2017
J. Webster
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Credit goes to State Street Global Advisors for putting up the statue of the young girl standing directly across from the famous "Wall Street" bull. I'll put my money on the girl. The statue reads: "Know the power of women in leadership. SHE makes a difference." I don't think the statue will be permanently positioned there, but it should be.

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Preet Bharara Watched Wall Street Last Night..

Mar 6, 2017
J. Webster
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Preet Bharara, the U.S. Attorney for the Southern District of New York, seems to be trolling stock traders tempted to trade on inside information. Bharara has a personal Twitter account and he appears to have caught the movie Wall Street on TV last night. In a series of tweets he mentions how greed is actually not good and the part in the movie where a body wire is used by Bud Fox (Charlie Sheen) to catch Michael Douglas's character, Gordon Gekko. And don't forget that Gekko's character, at least some of his language about corporate takeovers, was based on Carl

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Jim Chanos Playing Poker on Billions

Mar 6, 2017
J. Webster
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Yes, on the right there in the picture below, is Jim Chanos, playing poker on an episode of Showtime's Billions. You can just see the side of his face and his glasses, though...the legendary short seller isn't someone you want to be on the other side of any position, whether it's related to stocks or say a poker table. It looks like he's got a pretty good stack of chips there...Chanos of course is most famous for his short position in Enron, and one of the first to see their accounting practices as pretty much a fraud.

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