20 March, 2015 by The TZ Newswire Staff Comments Off on Herbalife not exonerated by U.S. judge: Pershing Square
Herbalife not exonerated by U.S. judge: Pershing Square
Pershing Square Capital Management LP, which in December 2012 revealed a $1 billion bet against the weight loss and nutritional products company, said recent news reports it was behind the lawsuit, or had sued Herbalife itself, were false. It also said that, despite what it called Herbalife’s “misleading public suggestions,” U.S. District Judge Dale Fischer in Los Angeles did not address whether Herbalife was an illegal pyramid scheme, as Ackman has contended.
20 March, 2015 by The TZ Newswire Staff Comments Off on The Time Warp Again
The Time Warp Again
From The Slope of Hope: A little over thirty years ago, I made my first trip to Palo Alto. I lived in a little town called Moraga in the East Bay, and some friends of my girlfriend (now my wife) were going to see The Rocky Horror Picture Show. I had never seen the movie (and if you know Rocky Horror, you know that you don’t really just sit there and watch it), and I had never been to Palo Alto. So, one night during a senior year in high school, off we went.
20 March, 2015 by The TZ Newswire Staff Comments Off on China Warns Against Irrational Exuberance
China Warns Against Irrational Exuberance
Yesterday, we pointed out that in US dollar terms, Chinese stocks are a real standout among the world’s equity markets, having nearly doubled in less than a year. The catalyst? Liquidity, driven by a number of factors including, as UBS notes, expectations of further policy easing, QE-lite, bank bridge loans, and of course, excessive leverage. We also warned that this, like all liquidity-driven surges, will not end well:
20 March, 2015 by The TZ Newswire Staff Comments Off on It’s good to be the Fed
It’s good to be the Fed
Before the recession, the Fed typically earned a profit of about $30 billion per year. After the Great Recession, their profits rose to the $70 to $80 billion range, as their balance sheet expanded.
20 March, 2015 by The TZ Newswire Staff Comments Off on Keep Calm, Trade on, Buy Calls
Keep Calm, Trade on, Buy Calls
U.S. stocks look good in the post-FOMC meeting world.
20 March, 2015 by The TZ Newswire Staff Comments Off on In Italy, They’re Now Taxing Shadows
In Italy, They’re Now Taxing Shadows
As Greece struggles to convince the world it’s serious about adopting a series of reforms designed to bolster its economy including cracking down on rampant tax evasion, the Syriza government may want to look to Italy for creative ideas on how to boost government revenue. As Italian newspaper Leggo reports, store owners in Conegliano are now faced with the unfortunate (albeit comically absurd) proposition of paying taxes on shadows.
20 March, 2015 by The TZ Newswire Staff Comments Off on How HFT Destroys Markets: 50 Pages Of Evidence
How HFT Destroys Markets: 50 Pages Of Evidence
Back in 2009, when aside from a few insiders, nobody had heard of HFT, Zero Hedge launched its crusade to expose the algorithmic scourge that has since then caused an equity, treasury and now US Dollar flash crash, and has been the subject of a Michael Lewis bestseller and resulted in countless market halts and failures.