New York’s financial regulator sets sights on crypto firms mixing funds with customer assets in the wake of FTX fiasco

The New York Department of Financial Services published a set of guidelines for crypto firms on Monday. The agency reiterated that companies should keep clients’ funds separate to protect customers. Former FTX management is alleged to have misappropriated customer funds with sister trading firm Alameda Research. Loading Something is loading. Thanks for signing up! Access… Continue reading New York’s financial regulator sets sights on crypto firms mixing funds with customer assets in the wake of FTX fiasco

Paul Krugman says bitcoin could be losing out to the ‘pet rock of ages’ gold because scandals are denting faith in crypto

Crypto scandals helping push some investors away from bitcoin and toward gold, Paul Krugman said.  The Nobel Prize winner noted gold prices have been holding up even as crypto and Tesla tumbled in value.  A loss of faith in “fashionable technobabble” is helping demand for “the pet rock of ages,” he suggested.  Loading Something is… Continue reading Paul Krugman says bitcoin could be losing out to the ‘pet rock of ages’ gold because scandals are denting faith in crypto

It costs $1,000 less to rent in Montreal than it does in Toronto. What gives?

The reasons might surprise you Published Jan 21, 2023  •  7 minute read 5 Comments A sign advertises condos for rent in Laval, Quebec. The province has among the cheapest cities for renters in Canada. Photo by Dario Ayala/Postmedia Struggling to keep up with surging rents? You might want to consider moving to Quebec. Advertisement… Continue reading It costs $1,000 less to rent in Montreal than it does in Toronto. What gives?

US default risk raises alarms across Wall Street – here’s what Jamie Dimon, Larry Summers, Nouriel Roubini and others say as debt ceiling is reached

The US hit the $31.4 trillion debt limit set by Congress on Thursday, forcing the Treasury to take “extraordinary measures.”  Those measure will keep the US out of default until about June, but after that lawmakers must raise the debt ceiling.  Wall Street heavyweights like Jamie Dimon, Larry Summers, Ed Yardeni and Nouriel Roubini have… Continue reading US default risk raises alarms across Wall Street – here’s what Jamie Dimon, Larry Summers, Nouriel Roubini and others say as debt ceiling is reached

Natural gas prices have crashed 50% in less than a month, and now an energy CEO is ringing the alarm

Natural gas prices have plunged 50% in less than a month as an unusually warm winter hits both the US and Europe. Chesapeake Energy CEO Nick Dell’Osso wants to avoid a repeat of the 2014 shale bust by limiting supply growth. “We do think the industry should acknowledge that and may reduce growth in the… Continue reading Natural gas prices have crashed 50% in less than a month, and now an energy CEO is ringing the alarm

From tumbling earnings to sky-high valuations, here’s 4 reasons experts see losses in the S&P 500 for a 2nd straight year

Some Wall Street observers are worried the S&P 500 is headed for another grim showing in 2023.  The index suffered its worst loss since 2008 last year amid rising inflation and aggressive Fed policy. Here are four lingering headwinds that could drive a big hit to the S&P 500 in 2023. Loading Something is loading.… Continue reading From tumbling earnings to sky-high valuations, here’s 4 reasons experts see losses in the S&P 500 for a 2nd straight year

Goldman Sachs says buy these groups of 10 stocks to build the foundation of a portfolio that will outperform in a recession — or if the economy surprises investors by avoiding a downturn.

Goldman Sachs is relatively optimistic in 2023, saying there’s only a 1/3 chance of a US recession. That’s high enough that the firm is telling investors to be prepared for ‘hard’ or ‘soft’ landings. US Stock Chief David Kostin and his team put together portfolios designed for either scenario. Goldman Sachs seems like a beacon… Continue reading Goldman Sachs says buy these groups of 10 stocks to build the foundation of a portfolio that will outperform in a recession — or if the economy surprises investors by avoiding a downturn.

Warren Buffett’s ‘most gruesome’ mistake was buying Dexter Shoe with Berkshire Hathaway stock. Here’s a look back at his $12 billion error.

Warren Buffett’s “most gruesome” mistake was buying Dexter Shoe, a Maine shoemaker, in 1993. He paid with Berkshire Hathaway stock worth $433 million at the time, but $12 billion today. “I gave away 1.6% of a wonderful business … to buy a worthless business,” Buffett later admitted. Loading Something is loading. Thanks for signing up!… Continue reading Warren Buffett’s ‘most gruesome’ mistake was buying Dexter Shoe with Berkshire Hathaway stock. Here’s a look back at his $12 billion error.