Patrick Boyle On Finance

Send us a textDisgraced Frank founder Charlie Javice has joined the likes of Elizabeth Holmes and Sam Bankman-Fried on a growing list of founders to be lavished with honors by the financial news outlet Forbes – only to later face criminal fraud charges.“The Forbes 30 Under 30 have collectively raised $5.3B in funding,” tech investor Chris Bakke tweeted on Tuesday. “The Forbes 30 Under 30 have also...

Send us a textJamie Dimon, the chief executive of JPMorgan Chase, warned that the banking crisis 'not yet over' in an annual letter to shareholders just weeks after the collapse of three US banks. He said he didn't expect the turmoil to lead to a global crisis like in 2008, noting that it involved "involved fewer players and fewer issues". But he warned the impact would linger. Patrick's Books:Sta...

Send us a textChina has significantly expanded its bailout lending as its Belt and Road Initiative blows up following a series of debt write-offs, scandal-ridden projects and allegations of corruption according to a new paper "China as an International Lender of Last Resort" by Sebastian Horn of the World Bank; Brad Parks, a research professor at William & Mary University; Harvard’s Carmen Rei...

Send us a textAfter a weekend of intense negotiations, Swiss authorities brokered an emergency deal to sell Credit Suisse the troubled 167-year-old investment bank to its Swiss rival, UBS. A $54bil lifeline from the Swiss National Bank last week failed to stem the crisis facing Credit Suisse following Silicon Valley Bank’s collapse: its share price collapsed and the flight of deposits accelerated....

Send us a textLet's discuss the ongoing controversy at Credit Suisse, if they are like Silicon Valley Bank and what this means for depositors and investors! Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our w...

Send us a textA number of things went wrong at Silicon Valley Bank over the last days, weeks and years, there were huge failures of risk management. The risk manager would have some tough questions to answer, except that it appears that they didn’t have a risk manager on staff for almost nine months of the last year. There were issues tied to the different regulations applied to community banks wh...

Send us a textBanks don’t fail very often, and bank runs appear to be mostly a thing of the past. The last bank failure in the United States happened in 2020 when a small bank in Kansas failed. That two-year streak was broken this Wednesday with the failure of the crypto focused bank Silvergate, and on Friday with the failure of Silicon Valley Bank. Patrick's Books:Statistics For The Trading Floor...

Send us a textLet’s talk about Artificial Intelligence, what it is, how it works and where it might be taking us. We’ll try and see if as an investor you should worry about missing the boat on AI, and as an individual should you worry about losing your job to these new technologies? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://...

Send us a textThe Dutch tulip bulb market bubble, also known as tulipmania, was one of the most famous market bubbles and crashes of all time. It occurred in Holland during the early to mid-1600s, when speculation drove the value of tulip bulbs to extremes. At the market’s peak, the rarest tulip bulbs traded for as much as six times the average person’s annual salary. Today, the story of tulipmani...

Send us a textThe commodities trading firm Trafigura has announced that it has been the victim of a “systematic fraud” and has to write-down over half a billion dollars after discovering shipments of nickel that it purchased from firms controlled by Prateek Gupta failed to contain the metal. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor:...

Send us a textThe Adani Group, one of India’s biggest conglomerates, has come under fire from a small American short selling hedge fund called Hindenburg Research. The firm, run by Nathan Anderson, is known for uncovering fraud and other issues at companies like Nikola Corporation, Clover Health, and Lordstown Motors. Let's dig into the allegations, the evidence and Adani's response and discuss wh...

Send us a textBrazil and Argentina announced last week that they are starting preparatory work on a common currency, in a move which could eventually create the world’s second-largest currency bloc. Does this move make any sense? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3...

Send us a textIn today's video we look at the recent lawsuit against Gemini Trust Company, a crypto lending platform run by the Winklevoss twins and Genesis Global Capital a crypto lender run by Barry Silbert who are accused of breaking securities laws. We'll dive into the legal definition of what a security is and how it relates to crypto products. We’ll finish up by looking at whether Logan Paul...

Send us a textUS Treasury secretary Janet Yellen on Friday fired her first warning shot of the year to Congress about the need to raise America’s debt limit. “Failure to meet the government’s obligations would cause irreparable harm to the US economy, the livelihoods of all Americans, and global financial stability,” Yellen wrote to lawmakers. The US is hurtling towards its riskiest debt ceiling c...

Send us a textEgypt allowed its pound to tumble to a new low this week as the country struggles with a foreign currency crisis that is hurting businesses. The slump in the currency comes after Egypt agreed to move to a flexible currency regime as part of an IMF $3bn bailout intended to help relieve its foreign currency shortage. Since the central bank said it would move to a flexible currency rate...

Send us a textWhile China is struggling with an unprecedented wave of coronavirus, and tens of millions are getting infected daily, the world’s second-largest economy is starting to show signs of coming back to life following the government’s decision last month to dismantle the zero-Covid system that aimed to control the virus at the cost of keeping the country isolated. Investors and analysts pr...

Send us a textFrom Elon Musks Purchase of Twitter to the arrest and extradition of Sam Bankman-Fried, 2022 was an eventful year in the world of finance. In Today's podcast let's look at the major financial news events of the year to see if there is anything we can learn or laugh about. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https...

Send us a textFederal prosecutors and the SEC earlier this week charged seven Influencers with using Twitter, Discord and YouTube to commit securities fraud that netted them more than $100 million. An eighth influencer was charged with aiding and abetting the alleged scheme in the SEC’s civil complaint and with conspiracy to commit securities fraud in the Department of Justice’s criminal case. Eac...

Send us a textSam Bankman-Fried has been arrested, accused of engineering “one of the biggest financial frauds in American history.”In a Department of Justice indictment unsealed on Tuesday, Bankman-Fried has been charged with eight counts including conspiracy to commit wire fraud on customers and lenders, money laundering and violations of campaign finance laws. Bankman-Fried, who was arrested in...

Send us a textFrom Enron to Wirecard to Theranos and FTX, elaborate investment scams can remain undetected long after the warning signs appear. What are investors missing? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFin...

Send us a textStephen Schwarzman and Jonathan Gray of Blackstone have built the best fundraising machine on Wall Street, but now, the billionaire pair are in an unfamiliar position — having to return cash to clients who are asking for their money back. Blackstone’s stock price fell last week after it limited withdrawals from its $125bn real estate investment fund BREIT, after a surge of redemption...

Send us a textSam Bankman Fried did two interviews with Tiffany Fong to explain what happened at FTX and where the customers money went. The first interview went out on the YouTube channel Coffeezilla yesterday. The Full Sam Bankman Fried Interview: https://www.youtube.com/watch?v=xP54LZB3WRw&t=1sCoffeezilla Video: https://www.youtube.com/watch?v=0rL35_WV3lE&t=85sPatrick's Books:Statistics...

Send us a textSince its launch in 2019, FTX has raised $1.8bn and was most recently valued at $32bn. Among its shareholders are some of the world’s most-respected hedge fund managers and Venture Capitalists. Now with FTX having filed for bankruptcy, their investments look to be a complete wipeout. Investors including Sequoia, SoftBank and Paradigm, which was co-founded by former Sequoia partner Ma...

Send us a textThe new chief executive of FTX, an insolvency professional who oversaw the liquidation of Enron, has said that the bankruptcy of the crypto group is the worst case of corporate failure he has seen in more than 40 years. John Ray III, who was appointed to run the FTX bankruptcy, said in a US court filing that he had never seen “such a complete failure of corporate controls and such a...

Send us a textFTX, the cryptocurrency exchange recently valued at $32 billion dollars, has filed for bankruptcy protection in the US.The filing in Delaware federal court on Friday included the main FTX international exchange, FTX US a US crypto marketplace, Sam Bankman-Fried’s proprietary trading group Alameda Research and about 130 affiliated companies. In today's video we discuss what went wrong...