The stock market has begun to reflect a high probability of a recession. Strategists at UBS screened for stocks that have clearly priced in that risk—and are worth considering. A recession seems in th...
Tag: Credit
The Block CEO showed ‘serious lack of judgment’ in taking loans from FTX’s Sam Bankman-Fried and not disclosing them
The fallout from the implosion of FTX continues, with crypto publication The Block on Friday announcing that Michael McCaffrey has stepped down as its chief executive officer after failing to disclose...
Short selling giant Jim Chanos is still short on Coinbase, Tesla and the FOMO-investment market
Short selling giant Jim Chanos is still pretty bearish on a number of stocks including Coinbase and Tesla, he said on Thursday. In a Twitter Spaces conversation, Chanos was asked about the FTX fiasco ...
Credit Market Investors are Watching for a Federal Reserve Pivot
(Bloomberg) — Credit market watchers are looking ahead to next week’s Federal Open Market Committee meeting where Federal Reserve Chair Jerome Powell is expected to announce a 50 basis-point hik...
Credit Suisse – A ‘New Company Is Emerging,’ Says BofA While Upgrading Stock
BofA Securities upgraded Credit Suisse Group AG (NYSE: CS) to Buy from Neutral with a CHF 3.60 price target suggesting more than 20% upside potential. BofA analyst sees the rebuilding of Credit Suisse...
Uniswap [UNI], Curve Finance [CRV] dominate the DEXs, credit goes to FTX
Uniswap and Curve saw increased user activity in the last month The price of UNI and CRV tokens saw some relief following FTX’s fallout The sudden fallout of cryptocurrency exchange FTX led to increa...
Art Basel ATM begs the question: Why would you keep $9 million in a bank account?
This ATM is spitting out social commentary along with cold, hard cash. An installation by the Brooklyn art collective MSCHF stole the show at this year’s Art Basel Miami. The art piece, dubbed “ATM Le...
I have $600K invested, but my financial adviser has only made one trade this year, and left $7,500 in cash in my Roth IRA. Is it time to get rid of him?
Question: My financial advisor has made one trade this entire year and has left $7,500 in cash in my Roth IRA since January. I had $600,000 in assets at the start of the year. Some minimal reallocatio...
Queen Latifah – worth an estimated $70 million – got this money savings advice from her mom. Pros say more of us should follow it, too: ‘The best part is it scales the more you make.’
BEVERLY HILLS, CALIFORNIA – OCTOBER 22: Queen Latifah attends TheGrio Awards 2022 at The Beverly Hilton on October 22, 2022 in Beverly Hills, California. (Photo by JC Olivera/Getty Images) Getty Image...
Legal Pressure Grows on FTX’s Sam Bankman-Fried
Legal difficulties are mounting for Sam Bankman-Fried, the founder and former CEO of FTX—and it doesn’t seem to be limited to the crypto exchange’s collapse last month. FTX filed for bankruptcy on Nov...
Credit Suisse Raises $4.3 Billion Capital After Wild Ride
(Bloomberg) — Credit Suisse Group AG completed a 4 billion-franc ($4.3 billion), two-pronged capital increase, giving Chief Executive Officer Ulrich Koerner the funds needed to embark on a compr...
Tony Fadell Designed A $279 (USD) Credit Card Sized Device For Storing Crypto Assets
The Apple iPod designer has launched the crypto security firm Ledger. Ledger Stax will sell for $279 (USD) compared to Nano S Plus for $79 (USD). The Apple iPod designer Tony Fadell announced that he ...
JPMorgan looks at ‘Armageddon scenario’ of Fed jacking rates up to 6.5%. Its conclusion may come as a surprise.
The market’s expectation is that the Federal Reserve will keep lifting its policy interest rate until it brings it to 5% before pausing for some time. But it’s possible that the Fed could decide that ...
Dear Tax Guy: Our accountant charged us $486 for a simple gift-tax return. Why on earth would it cost so much?
We gave our daughter money towards a down payment on a home and learned we had to file a gift tax return. Our accountant charged us $486 for this. Why can’t you just add a form to your regular tax ret...
‘Yields last seen in 2009.’ Here’s what you should be earning on a savings account now, but probably aren’t
What savings accounts are paying Getty Images While the average savings account is still paying a mediocre rate (see below), some high-yield savings accounts are now paying more than they have in a de...
Nexus Mutual Expects Significant Loss From Maple Credit Pool
Smart contract insurance platform Nexus Mutual has revealed that it expects to take a significant loss on its investment in a Maple Finance Credit Pool. It was also revealed that the smart contract a...
Cryptocurrency investor losses are being turned into IRS gains — here’s how they’re doing it
The Internal Revenue Service has been turning up its scrutiny on cryptocurrency investors in recent years, and as that happens, more investors have been turning to the tax code’s rules on investment l...
Nexus Mutual Loses Millions in Maple Finance Credit Pool
Smart contract insurance platforms Nexus Mutual and Sherlock will be taking losses in investments on DeFi credit pool Maple Finance. Maple revealed earlier this week it is cutting ties to cryptocurren...
LeBron James — now worth an estimated $1 billion — learned this simple lesson about saving money early in life. Pros say far more of us need to learn it too.
Lebron James Getty Images Basketball star and businessman LeBron James is now worth an estimatd $1 billion, according to Forbes, but the Ohio-native didn’t grow up wealthy and his family struggled to ...
Psst: You can earn 5% on your checking or savings account right now — and multiple banks are offering it
As competition escalates for new savings customers, many financial institutions are promising high yields simply for becoming a customer and following various transaction requirements. And if done cor...
1 in 4 Americans made this money move this year, and it has Suze Orman “worried” — but for some of you, it’s actually a lucrative move
Suze Orman Getty Images Finance guru Suze Orman isn’t shy about sharing her distaste for credit cards. In a blog post earlier this year, she wrote that more than a quarter of Americans surveyed said t...
‘I feel like a fool.’ I’m 65 and recently met a ‘gorgeous’ 70-year-old millionaire who ‘started acting as my financial adviser.’ But he ghosted me, and left me with less than $20 in my account. What’s my move now?
Question: After meeting a nice guy and dating a bit, he started acting as my financial advisor, which I appreciated as I am clueless about this stuff. He’s a millionaire, gorgeous and at 70, five year...
Credit Suisse Rises on Report of Saudi Crown Prince Interest
(Bloomberg) — Credit Suisse Group AG shares rose as much as 7.5% on reports that Saudi Arabian Crown Prince Mohammed bin Salman is preparing to invest around $500 million in the bank’s planned i...
Saudi Crown Prince to Invest in Credit Suisse Unit, WSJ Reports
(Bloomberg) — Saudi Arabia’s Crown Prince Mohammed bin Salman is preparing to invest in Credit Suisse Group AG’s investment bank, the Wall Street Journal reported. Most Read from Bloomberg Princ...
I sold my late mother’s home for $250,000. I make $80,000 and have $220,000 in student debt. I want to buy a house. Should I use all my inheritance for a down payment?
My mom passed away, and left me her house, which I just sold and will net $250,000. I’m 41 years old with no real retirement savings. I make $80,000 a year, and I am maxing out contributions to my emp...