Exchange Invest 2422 Weekend Edition: Carbon Can Save The World
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From individual IPOs to rank inaccuracy of meeja & crypto celebs. Best news: Carbon can save the planet.
Welcome to the EI weekend review. Exchange Invest is a unique information resource combining the day’s stories in a newsletter for investors in exchanges/financial markets infrastructure.
Exchange Invest was founded by former exchange CEO and author of the first bestselling book of fintech (“Capital Market Revolution!” FT 1999) Patrick L Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.
This weekly edition is a magazine of broader macro topics as well as including our free weekly podcast which reviews the highlights of the week in the world’s market structure.
On this day in 2001, stock options trading was successfully migrated from the Traded Options System (TOPS) to the Hong Kong Futures Automated Trading System (HKATS). Clearing and settlement of stock options trades continues to be performed on TOPS.
In BigWorld
From Exchange Invest 2420: 05th, August 2022: Thursday
Words reaches us that for the first time since 1847, a shark attack has been reported in British waters with an injured snorkeller being rescued by the Coast Guard. The lady has only relatively minor injuries and is expected to make a full recovery.
Nevertheless, it is worth reflecting: this is the first shark attack in British waters since the first publication of the “why did the chicken cross the road?” joke, Samuel Colt sold his first pistol to the US government, Verdi’s Macbeth premiered at Teatro della Pergola, Florence, the first Carlsberg beer was brewed in Copenhagen and Emily / Anne Bronte published Wuthering Heights and Agnes Grey respectively.
A woman bitten by a shark in UK waters for the first time in 175 years, clearly leads to only one question:
When will the indignities of Brexit end for the UK?
IPO-VID LIVESTREAM
NOW ONLINE!
Season 13: Episode 03, IPO-VID Livestream 075
Guest: Steven Sears
Tuesday, August 02nd: 1800 UK, 1900 CET, 1300 EST
“Steven Sears: Developing Your Options”
Steven M. Sears is President and COO of Options Solutions. He has helped democratize strategies that have long been used by sophisticated investors to better navigate the financial market. He has dedicated himself to improving investor education and narrowing the information gap that divides institutional and individual investors.
Steve pioneered coverage of the options market and securities trading for some of the world’s most important financial publications including Dow Jones Newswires, The Wall Street Journal, and Barron’s.
Mr. Sears is the author of The Indomitable Investor: Why a Few Succeed in the Stock Market When Everyone Else Fails, a book he wrote to narrow the information gap between skilled institutional investors and everyone else.
Watch the Stream on:
IPO-VID LIVESTREAM PODCAST
In IPO-VID Episode 059: I was joined by Dalmore Group Chairman, Etan Butler.
Listen to our interesting discussion about “Success In The US Alphabet of Crowdfunding.”
EI WEEKLY PODCAST
CME beats the street estimates in a results binge
CBOE writes down their ErisX purchase
…and ASX disappoints once again with their Digital Asset CHESS replacement fiasco.
The Exchange Invest Weekly Podcast 155
Victory Or Death
20 years on from the first fintech bestseller “Capital Market Revolution!”… “Victory Or Death” is a must read book for anyone interested in the intersection of Blockchain, Cryptocurrency and FinTech as part of the whole future of finance.
Podcasts This Week
Decline Of The Stock Exchange And Boom In Private Markets
ABC
Does it matter if there are fewer companies on a stock exchange? Guest: Jason Zein, Professor of Finance at the UNSW Business School.
Macro Thoughts
From Exchange Invest 2418: 2nd August 2022: Tuesday
We have not forgotten Evergrande who set a record as the world’s most indebted developer last year and has been restructuring under duress ever since (Evergrande offers sweetener for debt revamp as China property crisis worsens Chinese developer Evergrande’s unit ordered to pay out $1.1 billion — both Reuters).
Real estate amounts to an estimated 29% of the Chinese economy (greater ecosystem from construction to servicing, furnishing et al). It’s also suffering partly due to ongoing lockdowns and a core unaffordability (Beijing is roughly 14X income for average properties). Yet the population may peak, if it has not already and with 65% in the big cities, the great migration may be over.
Now there is a further issue which has provoked mortgage payee strikes because 90% of Chinese homes are sold if not off plan, certainly before completion…and there comes the rub, completion seems to be anathema to many developers leading home owners to go on mortgage strike as they await their homes being finished.
Watch this space.
(The View | No, China is not going to bail out its property sector)
Of Interest
As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!
Is Selling Shares In Yourself The Way Of The Future?
The New Yorker
PLY: Talent markets come alive — finally…?
Nepal Doesn’t Produce Its 2 Biggest Export Items
Nepali Times
Can Carbon-Eating Bacteria Alter The Course Of Climate Change?
PLY: It amazes me this has been taking so long when it appeared an obvious solution to me decades ago to various carbon / pollution problems.
Why Do The Useful Idiots At The New York Times Keep Putting The Boot Into Brexit Britain
Daily Mail
“The Old Grey Lady, as the paper is nicknamed because of its dreary layout and headlines, is about as reliable on Britain as its coverage of Stalin’s Russia in the 1930s, when its Moscow correspondent regularly insisted no one was short of food in Ukraine, only for less biddable journalists, including a number from Britain, to discover that Stalin was intentionally starving around 5 million Ukrainian peasants to death.
The New York Times won a Pulitzer Prize for its coverage of the Soviet Union in the 1930s. No doubt it can now look forward to another for its reports on Brexit Britain.”
PLY: A good take down of the occasional newspaper of record which deserves its epithet “The New York Lie.”
The Disastrous Record Of Celebrity Crypto Endorsements
Bloomberg
PLY: Shocking who could have believed that Matt Damon and Mike Tyson are not investment demi-gods?
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You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.
Or the “ICE Cost of Borrowing 2020–2022” An Interest Rate Comparison, which illustrates the end of the funny money era of QE and how interest rates have already had a major lurch up from their previous region of zero to, even negative, levels.
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