Exchange Invest Weekend 2932: Sino Bears End?
China: woe…or ready to go? ATC oops? Location tracking on the ground, vineyard robots & an eager Lithium miner.
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.
On this day in 1998, Citicorp (Citibank) under Sandy Weill and Travelers Group announced a merger in an $82 billion deal that would create the world’s largest financial services company. The merger formed Citigroup and was completed in October.
IN BIGWORLD
From Exchange Invest 2315: Monday, April 2nd:
For those busy talking the USA down, the nation accounts for about 4.2% of global population but is home to 37% of the world’s millionaires with 5.5 million HNWIs holding over USD 1 million in liquid investable assets.
The USA includes 32% of global liquid investable wealth — a colossal USD 67 trillion.
IPO-VID LIVESTREAM
NEXT WEEK TUESDAY! Season 23: Episode 06
IPO-VID Livestream 138
Guest: Tom Caldwell
Tuesday, April 9th, 2024 1700 UK, 1800 CET, 1200 EST
Exchanging Investments — Tom Caldwell”
Thomas S. Caldwell has been in the investment industry since graduating from McGill University in 1965.
Mr. Caldwell is President, CEO & Director of Urbana Corporation, a publicly traded investment company listed on the Toronto Stock Exchange and the Canadian Securities Exchange (“CSE”). He is also a past Chairman of the CSE, “The Exchange for Entrepreneurs”.
Mr. Caldwell is a Retired Honorary Colonel of The Lincoln and Welland Regiment and was a Governor of the Toronto Stock Exchange who is recognized as one of the world’s foremost investors in securities exchanges.
Urbana Corporation and its affiliated companies and investment pools were the second-largest owners of the New York Stock Exchange prior to the NYSE’s demutualization.
Watch the stream on:
IPO-VID LIVESTREAM PODCAST
In the IPO-VID podcast episode #136, Patrick L Young was joined by former IPO-VID guest, University of Iceland Professor and seasoned statistician, Gunnar Stefansson.
Listen as Gunnar discusses “Smileycoin — The Happy Face Of Crypto” delivering education with some fabulous additional function.
Now available from multiple different podcast sources:
EI Website
Spotify
Google Podcasts
Apple Podcast
EI WEEKLY PODCAST
JSE IPOs Rising,
Props Throttled By EU Red Tape,
Hong Kong Pushing Away From Men Only Boards,
And Tokyo Shines As The Yamato Reforms Kick In
The Exchange Invest Weekly Podcast 239
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.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
FINANCE BOOK OF THE WEEK
The EI weekend edition highlights interesting books pertaining to exchanges and markets, investment et al.
- Anybody can sign up for EI Weekend for free at ExchangeInvest.com.
This week’s book was written by our IPO-VID 125 guest & multi-award winning Johan Norberg.
“The Capitalist Manifesto: Why the Global Free Market Will Save the World” is a case for capitalism and the vital role played by the free market in today’s uncertain world. Johan Norberg argues that a move away from global capitalism would not only squeeze the growth out of the economy but also deepen an already large social exclusion for the vulnerable — for the world’s poor, it would be a killing blow.
Get the book here.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
Suggestions welcome if you would like to nominate a book for us to cover!
Our next Book of the week will be unveiled Saturday in the EI Weekend Edition.
& don’t forget if you want all the news on the bourse business sent daily to your Inbox subscribe to Exchange Invest — via Exchange Invest.com — it’s only $375 per annum to join “The Exchange of Information.”
BITCARNAGE
Vegans For Mercy
Who cares about the corrosive management, the incompetence, the clear fraudulence and desire to do what SBF wanted to do — as opposed to anything involving legal practice, with all manner of deceit in between and corporate governance which was, to put it mildly, somewhat stunted. The clear reason SBF deserved leniency was because he doesn’t eat meat: As Sam Bankman-Fried’s Sentencing Approaches, Letters Invoking Vegan Lifestyle Call For Leniency (CoinTelegraph). Bloomberg was more sanguine: Sam Bankman-Fried Sentencing: FTX Co-Founder SBF Faces Decades In Jail and ultimately accurate…
In the end it was a Quarter Century for SBF albeit he has a decent chance of 40–50% remission if he admits his guilt and behaves well… so presumably if Silicon Valley VCs retain their own bullheadedness about SBF, they will be lining up at the penitentiary door as soon as sometime in 2035.
The initial indications are, however, poor as SBF immediately told ABC News: “I never thought that what I was doing was illegal.”
FTX Founder Sam Bankman-Fried Sentenced To 25 Years In Prison For Fraud
FT
Sam Bankman-Fried’s Fate Is Sealed By His Own Words
FT
UK columnist Alex Brummer has some sanguine thoughts on the current state of crypto:
“What is most troubling about Bankman-Fried and the skulduggery uncovered at Binance, resulting in a $4billion (£3.15million) fine for boss Changpeng Zhao, is the lack of discipline it has brought to Wild West crypto markets.” (Don’t Expect Sympathy When The Crypto Bubble Bursts — And It Will, Says Alex Brummer | This is Money).
With SBF incapable of realizing he was doing anything wrong — you know buying condos with other people’s money and mixing up accounts and not understanding anything about corporate governance and trying to buy influence with the US government and and and…
I suppose we could blame the parents — a sad reflection on generations of Ivy league education?
The NY Post surmises bluntly but accurately: Sam Bankman-Fried cynically plays dumb as all the friends he bought evaporate
If you enjoyed this excerpt you may be interested to know that you can read Bitcarnage every day in Exchange Invest.
Alternatively, if you want to follow Bitcarnage — the daily update on happenings in the world of crypto and digital assets, then you can find Bitcarnage as a standalone on Substack.
MACRO THOUGHTS
China’s Stock Market Collapse Is The End Of The Road For Many Foreign Investors
Atlantic Council
Is China Now An ‘Alternative’ Investment?
Reuters
PLY: Two of a multitude of quasi-obituaries for China and indeed Hong Kong markets. Methinks a new bull market must soon be at hand, there are signs elements of the economy are bottoming out.
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!
Near-Disaster Shows EU Air Traffic Control Is Nowhere Near Good Enough
FT
“Europe has struggled for 20 years to implement the Single European Sky initiative which aims to overcome the fragmentation of its airspace, with all air navigation service providers managed at national level. It has made some progress on innovation. However, there should be greater effort to harmonise and incentivise minimum standards for technology in air traffic management across the bloc. Safety should always be the priority. But that should not rule out change for the better.”
The Invasion Of The Vineyard Robots
The Spectator
How One Man’s Pay-To-Use Toilet Gag Revealed Google Maps Can Be Used To Track People
Crikey
How Socialist Bolivia Is Trying To Cash In On Lithium, To The Benefit Of China
Worldcrunch
Is ‘Sea Rice’ The Next Superfood? Eelgrass — Sustainable, With Nutrient-Rich Grains, And Growing In Salt Water — Championed By Top Chef Ángel León
South China Morning Post
LAST WORD
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The future continues in the water cooler of the bourse business…
— Patrick
