The Lonely Redemption Of Sandy Lewis
“The complicity on Wall Street is sickness!” Mr. Lewis says. He fixes you with his laser stare. “If you think the big firms are being honest” — his tone slides streetwise — “well, sweetheart, go think something else!”
The temptation is to dismiss Mr. Lewis, 73, as a crank, except he once ruled as an eccentric genius of arbitrage, with a preternatural feel for the tectonic movements of the markets. He has railed for decades about venalities now on daily display. Rude truth is his currency. [more inside]
posted by the man of twists and turns
on Jul 9, 2013 -
Gold, Golden, Gilded, Glittering
- The Unexpected Double History Of Banking And The Art World
In fact, we have long entrusted the task of representing our ideas of value to members of two professions that might seem to have little in common: banking and art. And, in the last seven hundred years or so, it has happened more than once that visual and financial inventors have come up with strikingly similar representations. There is more than a shadow of resemblance between the purchase of the Hirst skull in 2007 and the mortgage-backed-securities debacle that made of Lehman Brothers in the following year one of the great public pictures of vanitas we’ve had. And, when you look further into these intersections, you often find that what is really at stake is a change in the way we feel and understand time. [more inside]
posted by the man of twists and turns
on Jan 7, 2013 -
Dallas Mavericks owner
, celebrity dancer
, Dairy Queen manager
, and bloviating billionaire Mark Cuban has been accused of insider trading
. In its complaint
, the U.S. Securities and Exchange Commission accused Cuban of selling his entire stake in Momma.com
) to avoid a $750,000 loss in 2004. But not even the government has a gag big enough to cover Cuban's mouth.
On his blog
, Cuban says the SEC is picking on him
and presented an excerpt of a deposition
of Mamma.com's CEO.
And Cuban would like you to believe that he's being politically persecuted
for his support of the 9/11 conspiracy film, "Loose Change
." Cuban's Magnolia Pictures
, which redacted Redacted
, was said
to be interested in a distribution deal.
posted by up in the old hotel
on Nov 19, 2008 -
There are 65,000 contracts @ $750.00 for the SPX 700 calls for open interest. That controls 6.5 million shares at $750 = $4.5 Billion. Not a single trade . But quite a bit of $$ on a contract that is 700 points away from current value. No one would buy that deep in the money calls. No reason to. So if they were sold looks like someone betting on massive dislocation
. Lots of very strange option activity that I haven't seen before. I've been doing this about 25 years.
The entity or individual offering these sales can only make money if
the market drops 30%-50% within the next four weeks. If the market
does not drop
, the entity or invidual involved stands to lose over $1
billion just for engaging in these contracts! Clearly, someone knows
something big is going to happen BEFORE the options expire on Sept.
posted by Huplescat
on Aug 25, 2007 -
Space-time continuum abused for financial gain
Federal investigators have arrested a Wall Street whizz who made $350 million from an initial investment of just $800 in two weeks. The man has confessed to insider dealing, explaining that he travelled back from the year 2256 in his 'time craft' specifically to make a killing on recorded past stock plunges. The kicker? There's no record of the man's existence prior to December 2002.
posted by skylar
on Mar 28, 2003 -
Oooh, Martha's in trouble...
Looks like her ex-boyfriend may have tipped her off to some insider information (and subsequently got popped
). News of the incident has caused Martha Stewart Omnimedia stock to drop. Not a Good Thing.
posted by shecky57
on Jun 12, 2002 -