Patrick Boyle On Finance

Send us a textBill Hwang, founder of Archegos Capital Management, has been arrested by US authorities and charged with racketeering, fraud and market manipulation. The indictment accuses Hwang and former chief financial officer Patrick Halligan, of using Archegos as an “instrument of market manipulation and fraud” with “far-reaching consequences for other participants in the United States securiti...

Send us a textElon Musk - The world’s richest man has allegedly hired the investment bank Morgan Stanley and is trying to gather financing, so he can buy Twitter for $43 billion. According to The New York Times, Musk is evaluating various packages of debt and a loan against his shares of Tesla. Apollo Global Management, an alternative asset manager, is among the parties considering offering debt f...

Send us a textThe sanctions on Russia’s central bank use the reserve currency status of the US dollar to punish an American adversary. Will the US dollar lose its exorbitant privilege? What currency might replace the US Dollar as a reserve currency? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance:...

Send us a textVladimir Putin has demanded payment in roubles for Russian gas sold to “unfriendly” countries, setting a deadline of 31 March for the transition. It is not clear whether he plans to tear up existing contracts that set the price in euros or dollars, but Germany, which relies on Russia for 40% of its gas supplies, is not taking any chances, warning large industrial gas users that a sta...

Send us a textAs the clock runs down to Monday's sanctions deadline for Russian airlines to hand back more than 450 leased planes worth almost $10 billion, foreign lessors are fast losing hope that they will get their planes back. As the owners rushed to repossess the planes, the Kremlin moved quickly to block this by passing a law allowing foreign airplanes to be re-registered in Russia, effectiv...

Send us a textIn markets, there are few principles considered more important by traders than the idea that when a commitment to a deal is made, it should stand come what may. So, there was uproar in the commodities market last week over the London Metal Exchange’s decision to bring the global nickel market to a halt and cancel futures trades because of a “short squeeze” on a Chinese tycoon facing...

Send us a textThe UK announced new sanctions yesterday relating to the Russian invasion of Ukraine, targeting seven oligarchs with links to Vladimir Putin. Among them is Roman Abramovich, the owner of Chelsea FC.In today's video we try to answer three questions: Who owns Chelsea FC right now? What happens with the other Russian assets being seized around the world? And, what happens with Russian f...

Send us a textIn Today’s podcast we discuss if the west can place an embargo on Russian energy exports? Western leaders have threatened Vladimir Putin with sweeping sanctions over his invasion of Ukraine but, they have been clear that they would avoid disrupting energy supplies. Hitting energy exports is no longer as due to the brutality of Putin’s war and the idea of targeting oil and gas exports...

Send us a textRussia’s invasion of Ukraine risks disrupting the export of critical commodities and rupturing supply chains. Industries from food to cars and fertilizer makers to aircraft manufacturers will be hit by disruption to exports. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amz...

Send us a textThe US President said on Thursday that the United States and Europe were united in their efforts to confront Russian aggression toward Ukraine with aggressive sanctions. However, there was one area where he suggested that there was some disagreement: SWIFT.The messaging service, called the Society for Worldwide Interbank Financial Telecommunications, connects more than 11,000 financi...

Send us a textA married couple has been arrested and charged with laundering billions in Bitcoin stolen during the 2016 Bitfinex hack, as the Justice Department announced its largest financial seizure ever. Ilya 'Dutch' Lichtenstein, and his wife, Heather Rhiannon Morgan aka Razzlekhan or The Crocodile of Wall Street, were arrested on Tuesday in Manhattan on federal charges of conspiracy to commit...

Send us a textUS criminal authorities are gathering information on contacts among dozens of short selling hedge funds and research outfits as they investigate possible trading abuses by hedge funds. This comes after complaints from GameStop and AMC Shareholders. The Department of Justice has sent subpoenas asking for information about a list of more than two dozen firms to a smaller group of marke...

Send us a textChina’s Economy Is Slowing Which Could Have Big Consequences for the World. Economic output grew four percent in the last quarter, a slowdown from the previous quarter. Growth faltered as home buyers and consumers became more cautious. Construction and property sales have slumped, as the country grapples with power shortages, Covid-related restrictions, a crackdown on a range of comp...

Send us a textIn the United States, the government is not the only entity legally allowed to issue money. Private citizens and businesses are allowed to do so, too, and throughout U.S. history, they have done this. This type of money is referred to as private money, and it had mostly disappeared from circulation until Bitcoin was created in 2009. Today more than eight thousand cryptocurrencies exi...

Send us a textDuring the pandemic, house prices have increased even faster than they did in the period leading up to the 2007 financial crisis, stoking concern that another dangerous housing bubble is developing. In this week's podcast we compare the current real estate market to the bubble years before the global financial crisis of 2007-2008Patrick's Books:Statistics For The Trading Floor: https...

Send us a textOn Monday we saw the fraud conviction of Theranos founder Elizabeth Holmes. This conviction we are told in the press has split Silicon Valley. Supporters worry that the spirit of entrepreneurship has been put in ‘jeopardy’ while others say she overstepped boundaries. Tim Draper, a venture capitalist and family friend of Holmes who provided early funding to Theranos, told the New York...

Send us a textLet’s look back at the big financial events of 2021 and the lessons we learned. 2021 was an exciting year in markets, we had meme stocks, SPACs, hedge fund blow ups and the mainstreaming of crypto. The stock market went from strength to strength this year. The year started out with the short squeezes in GameStop and then AMC.As global economies bounced back from the pandemic, supply...

Send us a textHaving defied internal and external economic logic by repeatedly cutting interest rates, Erdogan opted this week for a new set of measures to stabilize its currency. What should we make of Turkey’s latest currency move? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/...

Send us a textThe Turkish lira has been in meltdown as President Erdogan rejected warnings on the dangers of his recent interest rate cuts. He vowed that there was “no going back”.The currency, which has lost about 40 per cent of its value against the dollar since the central bank started lowering borrowing costs in September, fell to a new record low of TL18.36 against the dollar on MondayTrading...

Send us a textChinese creditors have sued Evergrande for more than $13 billion dollars in as domestic companies owed money by the property development firm race against offshore bondholders to get paid. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://w...

Send us a textLink for next suggested piece: Chinese State Owned Developers Rescue Local Governments! - YouTubeInvestors are waiting for news about tens of millions of dollars of overdue interest payments owed by Chinese Property Developers Evergrande and Kaisa. The firms both appear to be overdue on payments to bond holders. Evergrande's shares closed at a new record low on Wednesday after fallin...

Send us a textJust five months after going public on the New York Stock Exchange, Chinese ride-hailing giant Didi Global said it plans to delist from the New York Stock Exchange and pursue a Hong Kong listing as it bends to Chinese regulators angered by its US IPO.“Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for lis...

Send us a textSubscribe to The Daily Upside! (Free Business & Finance Newsletter) https://bit.ly/3lwt7LTShort squeezes have been all over the news this year as retail investors banded together to spoil the fun for hedge funds in some well-known stocks. Short squeezes are not new though, they’ve been around as long as short selling has. In today’s video we look at the most disastrous short sell...

Send us a textA few weeks ago, I made a video on how the world of investing has changed over the last few years. I explained how much easier investing had become in 2021, as there is much less of a need for the type of analysis people used to do in the past. The trick today is to invest in things that seem funny, and hope that Elon Musk then tweets about them. In today's video I lay out my investm...

Send us a textIn 2005, Stanford medical professor John Ioannidis published a bombshell essay titled “Why Most Published Research Findings Are False”, which noted that the results of many medical research papers could not be replicated by other researchers. Subsequently, several other fields have turned a harsh eye on themselves and come to similar conclusions. The heart of the issue is a phenomeno...