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Crypto-assets appear in a revived and refreshed bull market, the analyst writes. Senior Bloomberg Commodity Analyst Mike McGlone weighs in with a very bullish prognosis for crypto-assets in the September edition of Bloomberg’s Crypto Outlook 2021. Considering cryptos such as bitcoin and ethereum are lifting off in the second half of the year from levels…
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The DailyAlts Playbook: China’s Repo Dealings, Sycamore’s “Secret” Buy, Dalio’s Latest Warning, and the $100 Billion “Book of Mormon.”
Today, the DailyAlts Playbook talks about China’s Repo Dealings, Sycamore’s “Secret” Buy, Dalio’s Latest Warning, and the $100 Billion “Book of Mormon.”
DailyAlts Playbook: The Arrest of Crypto “Michael Jordan”, ESG Battles and Bubbles, Trump’s Fed Pick – February 7, 2020
DailyAlts Playbook talks about Trump’s Latest Fed Pick, the Credit Suisse Shakeup, ESG Battles and Bubbles, and the Arrest of “Michael Jordan.”
Community Banking: Reich & Tang Reaches Deal with Smiley Technologies
Fintech firm Reich & Tang has reached a deal with Smiley Technologies, a developer and provider of core banking solutions to U.S community banks.
Community banks typically struggle to keep up with their larger competitors on high technology solutions. Smiley Technologies has worked with smaller banks to modernize and streamline core banking applications and services. These services help improve the efficiency of data management.
The DailyAlts Playbook: Pershing’s Coffee Sale, Bernie Madoff’s Dying Request, and Tesla’s Pullback
The DailyAlts Playbook talks Pershing’s Coffee Sale, Bernie Madoff’s Dying Request, and Tesla’s Pullback.
The DailyAlts Playbook: Tesla’s Rally, Interest Rate Cuts, Corona-covery, and “Leverage” in the Art Markets
This morning, we start with Tesla Inc. (NASDAQ: TSLA). The parabolic rise of Elon Musk’s electric vehicle company has seen its stock jump by 100% to start the year. Short sellers like David Einhorn have been on the losing end of one of the most irrational stock surges in recent memory. Shares have exploded since Rob Baron suggested that the company could generate $1 trillion in revenue in 2030.
FinTechs: UK the Epicenter of Fintech in Europe, says Report
UK the Epicenter of Fintech in Europe, says Report. The fintech sector in the UK raked in a record $4.9 billion in investments during 2019, despite political turmoil from Brexit.
DailyAlts Playbook: The Iowa “Circus”, Coronavirus Warnings, the “Succession” Drama in South Korea, Tepper’s Market Temperament, and a Busy Day for Activists
The morning, we start in Iowa.
For years, political analysts have asked why Iowa should be the first voice in the primary season.
Last night, Iowa proved it shouldn’t play this role ever again.
A mind-bending caucus process led to irregularities all across the state. Vote confirmation stalled.
Alternative Investments: Pacific Premier Bancorp Buys Opus Bank
Pacific Premier Bancorp (NASDAQ: PPBI), the holding company of Pacific Premier Bank, announced plans to purchase and Opus Bank (NASDAQ: OPB). Terms of the deal set the value at about $1.0 billion, or $26.82 per share. Pacific Premier expects the transaction to be 14% accretive to EPS in 2021 with a 1.8-year earn back period to tangible book value per share based. Opus is headquartered in Irvine, California with $8.0 billion in total assets, $5.9 billion in gross loans and $6.5 billion in total deposits as of December 31, 2019.
The DailyAlts Playbook: All Quiet on the Brexit Front. China’s Economy Takes Another Hit. And Nine More Months of Election Season
The morning, we start in China, where a massive selloff hit the Shanghai Index during the market’s first day back from the Lunar New Year celebration. The Index fell by 7.7% as the spread of the coronavirus shatters sentiment. Investors ignored positive data showing that manufacturing activity increased during January.
The DailyAlts Playbook – Dan Loeb’s Love of Soup, His Distaste for the SEC, Brexit Bargaining, Bernie’s Big Move, and Dalio’s Take on Coronavirus
We start today with the arrival of a new Europe. The United Kingdom will depart the European Union tonight after a long, drawn-out process dating back to a stunning 2016 referendum. Earlier this week, Nigel Farage conducted his victory lap while the British delegation laughed before the EU. The display concluded with the waving of tiny British flags. That final display caused EU officials to cut off Farage’s microphone.
The DailyAlts Playbook” The Return of Coronavirus, New Ponzi Schemes, and the State of Tesla Shorts.
The U.S. markets are deep in the red Thursday as markets address the ongoing coronavirus crisis in China. The Dow shed 222 points on news that the death toll in China increased to 170. The number of confirmed cases of the virus has topped 7,700. It was just two days ago that the markets shrugged off warnings and bounced back from its Monday downturn. But now economic woes are kicking in. The Shanghai index was off 2.7%, Hong Kong stocks slumped 2.6%, and the Nikkei shed 1.7%. Oil also continues to fall as analysts slash economic growth outlooks across the globe.
The DailyAlts Playbook: Fed Futures, Woodford Haircuts, a Terrible HBO Spinoff Idea, Joe Biden’s Awful Voter Pitch, and the Best Acquisition Case for Apple.
Today, the DailyAlts Playbook talks Fed Futures, Woodford Haircuts, a Terrible HBO Spinoff Idea, Joe Biden’s Awful Voter Pitch, and the Best Acquisition Case for Apple.
DailyAlts Playbook: Bernie Sanders Blowback, ESG Battery Woes, Impeachment Implications, the ECB, and New York State Tax Revenge – January 28, 2020
U.S. equity markets are pushing higher Tuesday after their worst day since October. Health experts are calling for calm and insist that coronavirus has been contained for the moment. Chinese health officials claim that 4,515 have been infected, while 106 have died from the disease. China has taken dramatic steps to contain the virus – including the cancelation of Lunar New Year events in Beijing and quarantining several cities.
Banking M&A 2020: Tim Melvin on Recent Survey Data
Banking M&A 2020 became a major topic of discussion this week. Bank Director Editor in Chief Jack Milligan and Rick Childs, a partner at Crowe, conducted a live survey at the magazine’s Acquire or Be Acquired conference in Phoenix.
Community Banking: Expect MOE Bank Deals and Other Takeovers in 2020
Tim Melvin reports from the 2020 Acquire or Be Acquired Conference. The panel “Wall Street’s Perspective on Bank Deals” featured three noted bank investors. Jonathan Ashe, equity analyst at Wellington Management Company; John Eggemeyer, Founder & Managing Partner at Castle Creek Capital; and, Anton Schutz President at Mendon Capital, all spoke on Monday. The three discussed…
Bank Technology: The Driver of M&A Over the Next 10 Years?
Will 2020 be the year that we see the tipping point in bank technology? Attendees at the Bank Director Magazine Conference in Phoenix think so. The sentiment is that banks in 2030 will look a lot different than they do today. Bankers who fail to embrace new technology will be left behind in the modern world of banking. Technology has changed almost every industry, but for some reason, there are still some bank executives and Boardmembers who think their industry will be different. They will not be.
Bank Director Magazine Conference: Fintech, Cybersecurity and Other Worries for 2020
Tim Melvin is attending the conference in Phoenix this week. At the top of the list is competition form fintech firms and big tech companies. Millennials are more focused on technology than one-on-one discussions in a branch. They have emerged as the target market for fintech companies and big tech companies like Amazon (AMZN) and Apple (AAPL). It is a top concern that fintech will disrupt commercial banking in the same way it did to consumer banking in recent years.
Alternative Investments: Pensions Could be Holding $61 Trillion of Assets Globally By 2025
Pensions Could be Holding $61 Trillion of Assets Globally By 2025. A report from the Association of the Luxembourg Fund Industry said that pension funds are “facing a crisis of unprecedented proportions” due to rising life expectancies in many countries. As a result, pension funds have been forced to diversify across geographies and different asset classes in a bid to push up returns.
Melvin: Observations From the Bank Director Magazine Acquire or Be Acquired Conference
Tim Melvin is attending the Bank Director Magazine Acquire or Be Acquired Conference in Phoenix, AZ this week. Over 1,000 bankers have gathered to talk about M&A and growth strategies in the current low growth economy.
The DailyAlts Playbook – January 27, 2020
Today, the DailyAlts Playbook talks Kobe Bryant’s legacy, the Monday meltdown, insider trading, and impeachment.
American Banking Association: M&A Expectations for 2020
The American Banking Association has released its outlook for merger and acquisition activity in the banking sector in 2020.
The ABA finds that the forces contributing to the consolidation of the industry show little to no sign of dissipating. Larger banks have an advantage as they can spread the costs of things like cybersecurity and regulatory compliance over a more extensive asset base. That gives them a significant advantage over smaller banks. The numbers bear out that theory as larger banks, in aggregate, have higher returns on assets and equity than smaller institutions.
ESG: Mining Becomes More Responsible, But Needs To Do A Lot More: EgonZehnder
Miners have accepted that Environmental-Social-Governance (ESG) criteria will measure their commitment to sustainability and the impact of their operations on society.
Going a step further, mining companies have also come to realize that ESG compliance leads to the creation of shareholder value and attendant social benefits such as better working conditions. Further, they recognize that investors, employees and host governments will welcome those miners that have a record of credible ESG performance.
That ESG is causing a sea change in miners’ approach to societal obligations is apparent. But, says EgonZehnder, they should be doing more.
The DailyAlts Playbook – Davos Virtues, Goldman’s IPO policies, and John Stumpf’s Limitations.
This morning, the Dow Jones was pushing higher despite ongoing concerns about China’s coronavirus outbreak. Today is also the conclusion of the World Economic Forum, an event swarming with anti-capitalist capitalism. The New York Times talks of a Phillip Morris rep saying the tobacco firm is “dedicated to a smoke-free future.” What?
The DailyAlts Playbook – The coronavirus outbreak, big losses for Tesla shorts, and why Bernie Sanders’ wealth tax will miss its target.
This morning, the Dow Jones is in reverse as President Donald Trump returns from Davos, Switzerland to Washington D.C. Once he arrives home, he will face the ongoing media circus around the Senate Impeachment trial. Before he took off from Switzerland, he had breakfast with U.S. CEOs, including Apple CEO Tim Cook, Microsoft CEO Satya Nadella, and Salesforce co-CEO Marc Benioff.