Wearable camera-gadget maker GoPro doubled in the days after its IPO. The media went gaga. But last week, it began to tank, just before Barron’s calamitous article.
The wealth transfer machine: Wall Street hype meets “retail funk”
Gowex was one of the most recommended stocks in Spain, including among the biggest banks. But under attack by a short-seller, it jumped from denial to confession and collapse in five short days, exposing just how well Spain’s regulators function.
The spurious argument that the taxpayer should pay so that Boeing could increase its profit from $5.25 per share to $6 per share.
My convo with a wealth manager at a megabank who’s been at it for 30 years, has seen three crashes while on the job, but unlike others in finance, hasn’t re-forgotten the lessons for the third time.
You don’t need to break a code; you don’t need to capture a server. “Hardcore hackers wouldn’t even bother with it,” says one of the hackers. “They’d find access too easy.”
Ah, the spine-tingling pleasures of having this delicious breed of bonds in your conservative-sounding bond fund.
GM blamed a low-level engineer for its ignition switch fiasco. That doesn’t even merit an “oh puleese!” I speak from personal experience: I owned a supplier that was smashed to smithereens by GM’s engineering and purchasing bureaucracy.
Coach just had an earnings fiasco. Sales plunged 21%. Prospects are worse for the period ahead. Store closings are coming. That’s the payoff for playing the destructive game of the Wall Street casino.
So what happens when these huge and reckless buyers with their nearly endless resources start cutting back after a phenomenal peak? Well, we know what happened in 2008.