In the past week, the U.S. stock market has seen its two biggest one-day drops in history. The market is down more than 10% from its recent high point, entering “correction” territory. This is good.
Understanding and making money in the stock market is no easy task (especially given how nonsensical the ebbs and flows of a stock can be). But a recently released working paper suggests—not for the first time—that you could do pretty well for yourself by ignoring everything so-called experts say. It found that over…
If you’re like most people, you do not like Wall Street or the financial industry, which commanded a large amount of confidence among just 19 percent of Americans in a poll from last year—perhaps because they crashed the national economy nearly a decade ago and the vast majority of the recovery went to the already rich
Blue blazers. Blue checked shirts. Collar open. No tie. Brown shoes. Black shoes. Or Nike shoes. New, new, all new. Soft leather satchels with bold brass zippers. Good cufflinks. Good watches. Better than you know. Hundred dollar haircuts. Straight razored shaves. Shaped cuticles. Manicured nails. Clean, soft,…
This week, in #DrainTheSwamp news:
All trading has halted on the New York Stock Exchange, and the NYSE would like everyone to know that it’s the result of an internal technical screwup and not a cyberattack.
One of the cryptozoology world's most polarizing figures, Tom Biscardi, is planning an IPO to help fund his ongoing search for Bigfoot.
A team of sophisticated hackers with insider trading ambitions has been targeting executives at over 100 organizations for over a year. While their hacking techniques aren't all that sophisticated, they appear to have a deep understanding of the investment banking industry.
Eventually, they could end up on your roof, beaming trading data across the sky: Lasers, originally developed by the military, that are now being co-opted by high-frequency traders looking for even faster ways to do business.
Just the other day, the New York Post outed Bloomberg reporters for monitoring Bloomberg terminals to track Wall Street traders' accounts. Now, the Financial Times has pointed out another egregious but unrelated security problem: apparently more than ten thousand confidential terminal records have been on the Internet…
Trading on Wall Street is basically a huge game of poker and it would be kind of hard to bluff or cover your strategy if Bloomberg News reporters were watching your Bloomberg terminal to track your every move. So you'd assume that said reporters wouldn't abuse their corporate affiliation like that, because it would be…
A year ago, IBM's Watson supercomputer bludgeoned human supernerds Ken Jennings and Brad Rutter in Jeopardy. Since then, Watson's been putting its natural language interpretation skills to work for health care organizations, but now it's coming for the money: As of yesterday, Watson works for Citigroup, one of the…
In 1912 almost all forms of gambling were illegal in the United States. A handful of states allowed betting on horse races, but that was pretty much it.
Apple's earnings call began with new CEO Tim Cook offering homage to Steve Jobs. He went on to note it set new records, sold a fuckton of phones, tablets, and computers, and made a huge pile of money.
So what do Wall Street's captains of industry do when they're not repeatedly punching the global economy in the neck for their own thrill and gain? Taking dumps in lovely bathrooms like this one—recreated in a greasy diner.
Just how deeply is Steve Jobs intertwined with the existence and vitality of Apple? Every time concerns over the company's former-CEO have risen, Apple's stock took an appreciable tumble. Today's resignation news appears to be no different.
Intel is set to acquire venerable security firm McAfee for a whopping $7.7 billion. Intel claims the deal will lead to safer computing through security measures that integrate their hardware, rather than a strictly-software approach. [Business Insider]