Editors’ note: This article was originally published on October 25, 2013. It explains how IEX—the firm profiled in Flash Boys, Michael Lewis’s book about high-frequency…
WHAT A DRAG
How Rand Paul could hold up Yellen’s confirmation as Federal Reserve chairwoman
CNBC reports that US senator Rand Paul (R-KY) will wage a campaign to hold up the confirmation of Federal Reserve chairwoman appointee, Janet Yellen, whose…
P&L
Forget Asia, UPS is riding a pickup in European exports
The numbers: UPS narrowly beat analyst estimates, reporting earnings of $1.16 per share for the third quarter versus estimates of $1.15. Strength in US e-commerce…
INDONESIA
Watch out, Puerto Rico—the hedge funds are here to save you
Puerto Rico is in a world of hurt. Not only is it impoverished, it’s finding it ever harder to borrow money from financial markets. But…
EVIL GENIUS
In the upside-down world of derivatives, you can make more by loaning to a company that defaults than one that pays its bills
It’s illegal to burn down one’s home for insurance money. However, the same principle does not always hold true in business. In fact, forcing a…
P&L
Nasdaq makes money off what it does best: buying things
The numbers: Nasdaq OMX Group reported better-than-expected results for the third quarter, earning $0.66 per share and revenue of $506 million, up from $451 million…
What people miss out on when they’re online
New research from Scott Wallsten, an economist at the Technology Policy Institute in Washington, DC, attempts to show exactly what Americans are missing out on…
Is Jamie Dimon worth the trouble? JP Morgan’s stock price doesn’t argue for it
Why do JP Morgan’s investors allow Jamie Dimon to stick around? Reports suggest the bank will pay $13 billion–the largest fine ever levied on a…
INDONESIA
The investment manager ridiculed in “The Big Short” is now under fire from the SEC
If you’ve read Michael Lewis’s book “The Big Short: Inside the Doomsday Machine“—about the build-up to the housing crisis and credit bubble—then you’ll probably remember…
INDONESIA
Leasing a car is cheap—so why aren’t more Americans doing it?
Wells Fargo analysts say that the interest rates Americans pay if they lease a car for 48 months are the cheapest they’ve been for 40…
P&L
Morgan Stanley wows after a dismal US bank earnings season
The numbers: Better than expected. Morgan Stanley beat Wall Street’s expectations for both earnings and revenue in the third quarter. The bank saw revenue of…
SHORT (FINANCE)
Hedge funds are jubilant after performing only 30% worse than the S&P 500
Can hedge funds get their mojo back? Even though they’re still under-performing major US stock indices, the third quarter could have been a whole lot…
