Navesink International - April 2021
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Archegos: the questions nobody asks
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What happened at Archegos? A lot has been published already, but many critical questions have still not been asked. After a factual summary / press review, this article asks the missing critical questions.
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＂I'm going rogue＂, claims the principal
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Guy Gentile is a principal with a checkered past: pump-and-dump, lack of registration, soliciting US customers from the Bahamas... He's not hiding that he went rogue.
He just got sued by the SEC for evading US stock trading regulations. Again.
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Cannabis: Wild West meets Wall Street
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The cannabis industry is growing up, getting sophisticated. Perceptions are changing, but regulations are inconsistent. The smart money has arrived.
Here are the regulatory, financial, and investment challenges, as well as the opportunities, driving this rapidly evolving market.
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The Tesla and Bitcoin lures
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Two articles coincide into a disappointing conclusion. The casino markets will lure a chunk of the stimulus money into bad investments.
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Buy Now Pay Later, the new payday loans
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Buy Now Pay Later (BNPL) is the new form of credit used by 1 in 3 US consumers, and growing at 40% per year. It's the new payday loan business.
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This report explains what BNPL is, who uses it, how much it grows, and what this business really is about. The review asks questions to ponder about this new funding business.
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SPAC, off-the-shelf dream?
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The blank check companies are raising billions in IPOs... but for how long? Here is the SPAC 101 manual: nature, popularity, ego crisis... and even options!
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The SEC's new priorities: climate, seniors, cryptos & fintechs
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The SEC has released its new sets of priorities for 2021. Here they are. Climate & ESG risks, disclosures and policies will be the focus #1. Retail investors, seniors, retirement savors: Reg BI and Fiduciary Duty compliance Information Security & Operational Resiliency: disaster recovery plans, especially for SIFI companies, data security. FinTechs, innovation and digital assets: compliance, trading applications & practices. …
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4.25% repo on 10Y and other volatility warnings
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This week saw some really unusual moves, 10Y repo, intraday volatility, stock rotations, A harbinger of more volatility to come?
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Should US stocks settle T+1? The current T+2 settlement date is considered antiquated, and the Robinhood affair (gee, them again???) has relaunched the debate. Here is a review of the DTCC's proposal, as well as an idea for derivatives traders.
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Adult supervision needed in the crypto trading rooms
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The SEC and the NY AG are suing CoinSeed for lack of registrations and multiple other counts. That's a cold shower for the crypto industry. Spoiler alert: adult supervision is needed.
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Geode hedge fund, loses big on volatility bets during COVID
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Geode handles $700 bn of Fidelity's index tracking assets. Geode Diversified, the much smaller hedge fund business, took a 36% loss on COVID's volatility rally. It is now getting the axe.
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Why are you receiving this email?
You are receiving this letter because:
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- we have worked together or discussed a related topic in the past,
- the information enclosed in these letters will be valuable to you,
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What will be the content of this monthly newsletter?
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