Wall Street

Morgan Stanley exec says Bitcoin is the ‘Kenny from South Park’ of money

Morgan Stanley's Dennis Lynch shared a light-hearted analogy during a discussion at Morningstar’s yearly investment conference today, claiming that Bitcoin’s insatiable ability to defy the odds and rise from both technical and fundamental adversity portrays that of the South Park cartoon character Kenny.The 24-series show has garnered a global audience base for its weird and wacky sense of humour, epitomised by the long-standing gag that Kenny dies in each episode, only to be rebirthed and gleefully unaware of his brutal demise in the following show. Head of asset management firm

Diminishing returns: Is Bitcoin underperforming compared to altcoins?

The first half of 2021 in the crypto markets brought many comparisons to 2017. Bitcoin (BTC) was on a tear to its all-time high, the new frontier of decentralized finance emerged, and nonfungible tokens were gaining myriad celebrity endorsements. But after the initial months of euphoria and a subsequent sell-off, BTC’s performance has been far more lackluster. The recent market sell-off resulting from the Evergrande crisis has compounded fears. However, it can’t be ignored that many altcoins, particularly platform tokens, have undergone impressive runs and, in some cases, even bucked broader

Episode #339: George Davis, Hotchkis & Wiley, “We’re In Unchartered Territory Right Now”

Episode #339: George Davis, Hotchkis & Wiley, “We’re In Unchartered Territory Right Now” Guest: George Davis serves as CEO and is responsible for setting the firm’s strategic direction. Mr. Davis also serves as a portfolio manager on the Large Cap Fundamental Value and Large Cap Diversified Value portfolios. Date Recorded: 7/21/2021     |     Run-Time: 49:27 Summary: In today’s episode, we’re talking long term value investing. We start with George’s investment philosophy and then walk through how he views the market today, seeing value in both financials and energy stocks. We talk

3 Crucial Reasons Why Bitcoin Could Fall Below $10K This Fall

Bitcoin faces the prospects of breaking below $10,000 after failing to extend a rally that pushed its price up by 70 percent earlier this year. Bitcoin is maintaining support above $10,000. Source: TradingView.com Here are the top three risks the cryptocurrency is facing as it heads towards the fourth and final quarter of 2020, according to the latest fractals and multiple observations. #1 Another US Equity Selloff; Bitcoin Correlation One of the main reasons Bitcoin faces the risks of falling in the coming sessions is the equity market. The cryptocurrency

Buffett dumps Wells Fargo amplifying bull case for gold and Bitcoin

Warren Buffett and Berkshire Hathaway substantially cut their position on Wells Fargo, selling 100 million shares. The Oracle of Omaha is continuing to trim his position in bank stocks, buoying the bull case for gold and Bitcoin (BTC).Berkshire reportedly held $32 billion in equity in Wells Fargo at one point, Fox Business reported on Sep. 5. The investment conglomerate now owns 3.3% in equity of the lender, worth just $3.36 billion.Why did Buffett cut Wells Fargo and how could it benefit Bitcoin?Throughout his career, Buffett emphasized the importance of value

Digital Assets Retract Sharply While Stocks Continue to Rally

There’s no doubt that whatever is going on in the fascinating world of Decentralized Finance (#DeFi) right now, it has been stretched far past its limitations. But that’s ok, because the entire point of this exercise was to test the boundaries of programmable money. Yet another delicious sounding product has joined the ranks of Yams, Tacos, Spaghetti, Porkchop, Tendies and Cake. This new one is actually a fork of Sushi and is named after the popular South Korean dish, Kimchi. I know, right?! The name isn’t the only thing special

Robinhood faces U.S SEC probe over deals with high-speed trading firms

The California based financial services company, Robinhood Markets Inc faces a civil fraud investigation by the U.S Securities and Exchange Commission over its deals with high-speed trading firms, according to a report in the Wall Street Street Journal. Robinhood allegedly failed to fully disclose its practice of selling clients’ orders to high-speed trading firms, the report said. Upstart brokerage Robinhood faces a civil fraud probe by the SEC over a failure to fully disclose its practice of selling clients’ orders to high-speed trading firms https://t.co/jHacq0DbWm— The Wall Street Journal (@WSJ) September

‘DeFi Is the Tesla of Crypto’ – Mike Novogratz

The decentralized finance (DeFi) space has hit the cryptocurrency market like a bull in a china shop. And Galaxy Digital CEO Mike Novogratz is having flashbacks of the 2017 ICO bubble, but that’s not all. Novogratz, a former Wall Street hedge fund manager, in an interview with BNN Bloomberg, drew parallels between DeFi projects and high-flying electric-vehicle maker Tesla, which worries him. That’s because TSLA shares have shot up several hundred percent this year so far and are trading at more than 1,000 times earnings. The gains are coming hand